Here comes the marketing push, 2 carriers uniting to market Medicare Part D. If Cigna can’t get them then maybe Humana can get the sale. No matter who sells the plan Cigna will manage it, but it will provide Humana’s Advantage plan that is marketed. Did you get all that? I think if read this correctly you can purchase a Humana plan from either Cigna or Humana, but the administration will be done by Cigna.
The plans will be to offer coverage for retirees it appears or those who are ready to retire, what ever that is as so many of us don’t know what retirement is any more. This is somewhat interesting in the fact that the folks from Cigna it appears will be able to sell either their own plan or one from Humana too. No wonder everyone is so fed up with marketing and the intricate formulas with all the marketing and analytical algorithms floating around today. We all know there’s a ton of money in selling Part D. One small company in the northeast last year that does Medicare Advantage made a billion in profit. BD
Louisville, Ky. (WHAS11) - Humana is teaming up with Cigna to sell Medicare Advantage Plans to employees that offer retiree coverage.
The two health insurers say they plan to collaborate on a deal that provides Humana's Medicare Advantage insurance to employers in Cigna's customer base.
Cigna will then manage the accounts.
Those plans are privately run versions of the government's Medicare program.
The companies will split revenue from the deal.
Humana offers dozens of Medicare Advantage Plans nationwide and Cigna offers coverage to employers in every state.