PHILADELPHIA--(BUSINESS WIRE)-- CIGNA (NYSE:CI) today announced that it would voluntarily implement federal rescission reforms on May 1, well ahead of the September 23 deadline.
CIGNA's business practices are already compliant with the suggested reforms that are to be implemented on September 23, 2010. CIGNA is confirming that it will not rescind the coverage of any premium-paying customer except in cases of deliberate fraud or intentional misrepresentations of material facts. CIGNA will also institute a policy of third party review if a rescission is to be made.
The company volunteered to do so as CIGNA is committed to affordable and accessible health care for all Americans.
CIGNA's decision comes days after it volunteered to extend health insurance coverage for young adults up to age 26.
“Our customers deserve access to affordable health care,” said Tom Richards, senior vice president of U.S. product. “Rescission has not been an issue for CIGNA. However, by voluntarily implementing another provision of health care reform legislation ahead of its intended effective date, we are providing our customers with the peace of mind that they can count on CIGNA to do what is right for them.”
CIGNA (NYSE:CI), a global health service company, is dedicated to helping people improve their health, well being and sense of security. CIGNA Corporation's operating subsidiaries provide an integrated suite of medical, dental, behavioral health, pharmacy and vision care benefits, as well as group life, accident and disability insurance, to approximately 46 million people throughout the United States and around the world. To learn more about CIGNA, visit www.cigna.com. To sign up for email alerts or an RSS feed of company news, log on to http://newsroom.cigna.com/rss/. Also, follow us on Twitter: @cigna and visit CIGNA’s YouTube channel at http://www.youtube.com/cignatv
Chris Curran, 215-470-2414
KEYWORDS: United States North America District of Columbia Pennsylvania
INDUSTRY KEYWORDS: Health Public Policy/Government Healthcare Reform Public Policy Professional Services Insurance General Health Managed Care