PHILADELPHIA (AP) — Managed care company Cigna Corp. said Wednesday it will expand its fast-growing international business to include individual health insurance coverage for people outside their home countries.
The Philadelphia insurer said the new plan will be available online and grows an expatriate business that had only provided employer-sponsored group coverage for people who live and work away from home. Spokeswoman Gloria Barone said the new plan is mainly geared toward "high net worth individuals" who travel a lot.
Its core coverage focuses on hospitalization, surgery, emergency care, cancer treatment and maternity. Policyholders also can add coverage for things like prescription drugs or dental care. The new international insurance plan is available at www.cignaglobal.com.
Cigna has offices in 27 countries and a global network of doctors, clinics and hospitals. Earnings from its international segment grew 33 percent to $243 million last year. Overall, the company earned about $1.35 billion, or $4.89 per share, on $21.25 billion in revenue in 2010.
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