I was told that the margins in the insurance business is getting smaller because of "Washington". that is the major reason of the rif. Thoughts and opinions? I leans towards this is not truthful. this is what the managers were told to tell the rank and file. the real reason is imho bad decisions from c-suite.
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@a9
Healthspring was profitable when Cigna bought it 13 years ago. The more Cigna got involved, the more money MA lost.
@ax what a waste by the first in class CAO et al.
@a6 like the millions they spent on a new HCSC font?
Is it possible to not make this site like every other online keyboard warrior name slinging assumptions throwing cest pool and stick to the facts so that people who have been impacted can learn what is actually going on? Let’s be calm and mature and spare this forum from disrespect. Stick to what you know. I think people would really appreciate it.
@a8 don’t be so smug. HCSC is laying the ax on its own, as well.
Market impacts from things like tariffs and lowered membership due to job losses aren't even fully felt yet. There's definitely more at play than just being disrupted by the fe--s the admin is flinging.
Which also makes it scary that we are seeing these moves before $hit hits the fan
@a8 and you are part of the problem. You are a minnow trying to eat a whale in one sitting. HCSC doesn’t have the knowledge or infrastructure to even absorb what they bought! The only thing I’ve seen is HCSC forcing their antiquated processes which will not work! Maybe it worked great for a small Medicare footprint but it won’t work for this volume. Example … yeah let’s get rid of actual systems and go to HCSC’s way which is an excel workbook. The knowledge a lot of Cigna folks brought is needed, especially the relationships with regulators, which I have seen first hand HCSC does not have! Our CMS account manager hardly even acknowledges blue folks! And regardless what you think or how you feel the board, C-suite or disgruntled employees won’t have any say when it comes to CMS. You are obviously threatened by the talent Cigna brought. It’s clear by the way you pretend to know the ins and outs of why Cigna sold.
100% because of the current administration’s decisions. HCSC had to make decisions about stuff before the current admin made its decisions and received approval for the BBB. They were making decisions for this year and next, based on not knowing the winner of the election and or what a candidate may or may not do.
Don’t act like you don’t wake up everyday wondering what this administration has done in the 8 hours you were sleeping! Imagine trying to make a decision based on what they might do, one year from now.
It's so cute that you think managers were told ANYTHING to say to our teams
Sold off because we were losing money, to a company losing significantly more money in the same space. Don't be dense, HCSC has no idea what they're doing with Medicare.
It’s so funny to see the wise Cigna people complaining about HCSC when they did such an exceptional job that Cigna sold them off only to complain about the company that chose to see a little value in their abilities.
HCSC should just cut their losses and write the unappreciative scrubs off.
300 layoffs. Not everybody at the same time. People that has been with the company for more than 10 years were let go just a few days before Open Enrollment. When staff in key positions are let go, it usually signals something beyond “normal turnover.” It could affect severance, morale, and how the remaining team should respond. HCSC is a disaster, and they are using the washington argument to do that. It is a lie! No communication at all.
HCSC is an antiquated and poorly run organization. You have leaders that should not even be managing the McDonald's drive thru let alone an organization that operates in a very complex space. Many Executive Directors, Directors, and even Managers just got the position due to internal connections or because they were cheap. As many said, HCSC hires high paid consultants for all sort of things yet they could not foresse or even plan for this?
@a1 yeah it just seems likes clear example of ignoring headwinds with get merger! Why would we go though the merger given what was happening in Market? Curious what blame the integration office is facing?
@OP no. This is a serious of bad decision making by incompetent leadership. They knew about the reimbursement rates ahead of closing their deal, they could have pulled out but ego dictated to move forward.
HCSC is not prepared for what is needed to run business on advanced platforms either. Funny how they let go of all these consultants and yet are hiring a big firm to amp up their AI strategy…..so get rid of heads to free up as much cash flow to pay for this.