Humana, Cigna waiving coronavirus treatment costs
America's health insurers step up to battle coronavirus costs for consumers
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President Trump announced two of America's leading health insurers, Humana and Cigna, would step up and assist consumers financially who are dealing with COVID-19 by waiving costs related to care associated with the virus.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HUM | HUMANA INC. | 296.38 | -0.30 | -0.10% |
| CI | THE CIGNA GROUP | 337.80 | +1.30 | +0.39% |
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“We know we’re uniquely positioned to help our members during this unprecedented health crisis,” said Bruce Broussard, president and CEO of Humana, in a press release shared with FOX Business. “It’s why we’re taking this significant action to help ease the burden on seniors and others who are struggling right now. No American should be concerned about the cost of care when being treated for coronavirus.”
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Humana's COVID-19 Coverage:
- Costs related to subsequent treatment for COVID-19 — including inpatient hospital admissions — will be waived for enrollees of Medicare Advantage plans, fully insured commercial members, Medicare Supplement and Medicaid
- The waiver applies to all medical costs related to the treatment of COVID-19 as well as FDA-approved medications or vaccines when they become available. There is no current end date. Humana will reassess as circumstances change
- Humana will cover the member responsibility under the plan benefits for COVID-19-related services whether treatment is delivered by in-network or out-of-network providers
- For more information: visit www.humana.com
As for Cigna, David M. Cordani, president and chief executive officer, said:
“Our customers with COVID-19 should focus on fighting this virus and preventing its spread. While our customers focus on regaining their health, we have their backs. Our teams of experts are working around the clock to support front line heath care workers, increase flexibility for hospitals, and deliver greater peace of mind to those we serve.”
Cigna's COVID-19 Coverage:
- Cigna Waives Customer Cost-Sharing for COVID-19. Cigna is waiving customer cost-sharing for all COVID-19 treatment through May 31, 2020
- Cigna’s Clinical Team to Increase Capacity for Virtual Care. To provide additional support for the medical community, Cigna will deploy hundreds of on-staff clinicians, including physicians and nurse practitioners, to join the team of health care professionals at MDLIVE, a leading telehealth company and Cigna network partner
- Cigna Offers Early Intervention Tool to Assess COVID-19 Risk and Guide Next Best Actions. Cigna is also partnering with Buoy Health, an artificial-intelligence-powered navigation platform to provide a free, web-based interactive triage tool that assesses COVID-19 risk. Through this early-intervention tool, US domestic customers can quickly receive information regarding the severity of their symptoms and recommendations on next steps for care
- The symptom checker will be available this week on www.Cigna.com, www.MyCigna.com and related myCigna mobile applications
Trump thanked the companies during his coronavirus task force update on Sunday.