Cigna Insurance Company Review
Cigna is a global provider of health services with its company headquarters located in Bloomfield, Connecticut. It employs over 70,000 employees worldwide in more than 30 countries with annual revenue of over $153 billion. Yearly, the company contributes more than $40 million to global giving.
The company was formed in 1982 as a result of the merger of INA Corporation and Connecticut General Corporation.
Both INA and Connecticut General Life Insurance Company were old and well-respected company names in the insurance industry. The Insurance Company of North America (INA) was founded in 1792 and Connecticut General Life Insurance Company (CG) was founded in 1865.
Subsidiaries of Cigna include:
- Connecticut General Life Insurance Company
- Cigna Health and Life Insurance Company
- Life Insurance Company of North America
- Cigna Life Insurance Company of New York
Through Cigna’s subsidiaries, consumers can purchase medical, dental, life, accident, or disability insurance products and other related services. Cigna is a publicly-traded company on the New York Stock Exchange under the symbol CI. It is also an S&P 500 company.
Financial Strength and Customer Service Ratings
Cigna Insurance and its subsidiaries have received the following financial strength ratings from these top insurance rating organizations:
- A.M. Best – “A Excellent”
- Moody’s Investor Service – “A2 High Quality rating with low credit risk”
- Standard & Poor’s (S&P) – “A Strong”
- Fitch – “A Strong”
ConsumerReports.org rated Cigna with an 84 out of 100 overall consumer satisfaction rating. The rankings are based on consumer satisfaction as well as performance in preventing and treating common conditions.
Cigna also operates a national call center available to members 24 hours a day, seven days a week. This call center has won a customer service award from J.D. Power & Associates for four consecutive years.
Better Business Bureau Rating
Cigna has an “A+” rating with the BBB. It is not accredited but has applied for accreditation and it is under review. The BBB statement says that Cigna has met the BBB Code of Business Practices under its initial review but final approval is still needed from the BBB Board of Directors. There are 88 total customer reviews (3 positive and 85 negative). The company has a composite score of 1.18 out of 5 stars. There are a total of 541 customer complaints: problems with product/service (328); guarantee/warranty issues (1); delivery issues (16); billing/collection issues (175) and advertising/sales (21). Of the 541 complaints, 174 were resolved to the customer’s satisfaction.
Health Insurance Products and Options
Through Cigna and its subsidiaries, you have the option of many different types of health insurance policies and services. You can receive substantial savings by using its PPO (Preferred Provider Organization) health care providers. HMOs (Health Maintenance Organization Health Insurance Plan) and HSAs (Health Care Savings Accounts) are also available. If you prefer a traditional insurance plan, this is also available through its “Open Network” plan. Here are some of the insurance policies and services available:
- Behavioral health
- Vision care
- Health coaching
- Condition management
- Group life, accident, and disability insurance
When policyholders enroll and use myCigna.com, they have access to view and pay bills online, view claims status and details, find providers and access an insurance ID card. This feature is also available to members as a mobile application.
Pros and Cons
Cigna is a financially sound insurance company and has many health care plans to fit your unique health and life situation needs. It has excellent financial strength ratings among the top insurance rating organizations as well as excellent customer service ratings from J.D. Power & Associates.
It has an expansive network of more than 1.5 million healthcare professionals, clinics, and facilities as well as more than 500 hospitals participating in the Hospital Quality Incentive Program. About 18 million customers have dental insurance nationally. Its website is comprehensive and was easy to navigate. No referral is needed to see an out-of-network health care provider, although you will receive a greater discount by using a physician within the network. Some plans offer co-pay and low deductible options. Cigna has a national call center that is open 24/7.
Not all forms of supplemental health insurance policies are able to be combined with the basic health insurance policy.
Company Contact Information
If you are interested in learning more about the health insurance products provided by Cigna, you can visit the Cigna website or call 1-800-997-1654.