CIGNA is an employee benefits company. Part of CIGNA's business involves providing health benefit plans. In addition, CIGNA provides: retirement and investment services; life, accident, and disability plans; and assistance to people living, working, or visiting outside the United States. Health care benefit plans are designed to enable employees to choose the forms of coverage they need. CIGNA is committed to helping others by sponsoring good causes and by promoting ways to empower people.
CIGNA is the nation's oldest stockholder-owned insurance company. It was founded as a marine insurance company in Philadelphia in 1792. The original company, Insurance Company of North America (INA), issued its first life policy in 1794. In 1865, the Connecticut General Life Insurance Company (CG) was incorporated. INA operations were expanded into the United Kingdom, Europe, and South America in 1887. In 1897, INA became the first U.S. insurance company to do business in China.
In 1912, CG began to offer accident, and later, health insurance. CG wrote its first group life insurance contract in 1913. Group accident and sickness coverage were introduced by CG in 1919, and CG's first group pension contract was written in 1924. By 1937, CG was establishing itself as a leader in providing group health insurance. CG introduced group dental insurance in 1964. A family of mutual funds was created by CG in 1968, and it set up an HMO in 1969. INA entered the HMO field in 1978.
CG and INA announced their intention to merge in 1981. The CIGNA name was adopted for the new company in 1982. Philadelphia was chosen for the CIGNA headquarters in 1983. Since 1983, CIGNA has continued to expand its business both in the United States and overseas. It has won a number of awards and high ratings for its various programs, and is known as being a good place to work.
CIGNA Health Plans
CIGNA offers wide variety of health care plans that are intended to help employees get healthy and stay healthy. Programs exist to cover medical, dental, and vision needs. There are also prescription drug plans, and plans for behavioral health including treatment of substance abuse. CIGNA has an extensive customer service branch. Three of the basic medical care programs CIGNA offers are:
- CIGNA Choice Fund - The Choice Fund offers a variety of services and programs. It makes available a Health Reimbursement Arrangement (HRA) and a Health Savings Account (HSA). Both types of plans emphasize putting choice into the hands of the consumer.
- Preferred Provider Organization (PPO) - These plans allow the consumer to visit any medical provider of their choice. Savings are realized if the consumer visits in-network, preferred providers. These plans do not require a Primary Care Physician (PCP).
- Point of Service (POS) - In these plans, a PCP coordinates care received through in-network providers. Out-of-network providers can be used, but the cost will be higher for the consumer.