Green Health & Wellness Cigna explores shedding Medicare Advantage business – GWC Mag gwcmagNovember 17, 2023033 views DealsGovernmentHealth 06 November 2023, 6:28 pm 1 minute Reuters was first to report that U.S. health insurer Cigna Group (CI.N) is exploring the sale of its Medicare Advantage business, which manages government health insurance for people aged 65 and older, a move that would mark a reversal of its expansion in the sector. Market Impact Cigna shares rose as much as 1% to $314.06 after Reuters reported the talks, but gave back some of those gains and were up about 0.4% in midday trading. Cigna’s Medicare Advantage business generated 4.4% of the company’s $179.4 billion in revenue from external customers in 2022. Those eligible must already be covered by Medicare, a government program that mainly applies to Americans age 65 and over, or those with some disabilities. Article Tags Topics of Interest: DealsGovernmentHealth Type: Reuters Best Sectors: Business & FinanceMergers & AcquisitionPharmaceuticals & Healthcare Regions: Americas Countries: US Win Types: Speed Story Types: Exclusive / Scoop Media Types: Text Customer Impact: Significant National Story