Health insurer Cigna Corp. won’t be able tosign up new customers for its private Medicare plans during thefall enrollment season this year because of an investigation byU.S. regulators.
The Centers for Medicare and Medicaid Services said inJanuary that it found “widespread and systemic failures” in Cigna’sprivate Medicare business. On Tuesday, the Bloomfield,Connecticut-based insurer said in a regulatory filing that itprobably can’t fix the problems in time for the enrollment seasonfor private health insurance and drug coverage plans, which startsnext month.
As of June 30, Cigna had about 533,000customers in its Medicare plans, known as Medicare Advantage, and 1.04million in its drug plans, known as Medicare Part D, the companysaid on its website. The privately run insuranceplans are sold as alternatives to the government-run version of thehealth program for the elderly and disabled, and the drug benefitwas created in 2003 to supplement health coverage.
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