Cigna and Oscar Health are bringing their cobranded health plan for small businesses to Arizona.
The Cigna + Oscar plan will be available in 15 Arizona counties beginning on July 1, the companies announced Thursday. The expansion is the latest in a series of new market additions over the past several months.
The plan was initially launched in Atlanta, Tennessee in select California counties at the end of 2020. Over the past several months, Cigna and Oscar have unveiled plans to expand within California and into Connecticut.
“This pandemic has forced small business owners in Arizona to make many sacrifices, especially when it comes to their health care choices,” said Bruce Grimm, Cigna's senior vice president of segments, in a statement.
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“As more workplaces reopen, maintaining a safe workplace is vital to helping employees have peace of mind," Grimm said. "Through our partnership with Oscar, we are providing more choices for affordable, predictable and simple health coverage to small businesses at a time when they need it most.”
The plans are designed for firms with between one and 50 employees. The announcement notes that the pandemic has hit small businesses in Arizona hard, with 30.2% reporting a decline in revenue during the first week of October 2020.
Despite these challenges, a survey conducted by Cigna + Oscar finds that small businesses are putting a greater focus on their health offerings as a result of the pandemic, with 88% naming it as a larger priority moving forward. Sixty-six percent said health insurance is a more important calculation in their budgets moving forward.
“As the country begins to reopen, it is critical that small businesses are being helped to get back on their feet and keep their doors open,” said Louis DeStefano, head of the small group business and senior vice president of growth at Oscar, in a statement. “Cigna Administered by Oscar specifically meets those needs by offering small businesses affordable health plans that meet the needs of their employees, in this moment and moving forward.”