Cigna is pulling out of the Affordable Care Act’s individual marketplaces in 2027 to focus on more promising parts of its business, another exit from what’s become a tumultuous piece of the insurance industry.
Executives announced the decision on Cigna’s first quarter earnings call on Thursday, in which the company unveiled better-than-expected financial results, including $1.7 billion in profit, and a bumped-up earnings forecast for the year. Cigna currently has 369,000 ACA members across 11 states, a small portion of its 18.3 million total members.
Brian Evanko, Cigna’s chief operating officer, said on the call that Cigna did not take the decision lightly. He said it was driven by two main factors: Cigna did not see a way to meaningfully grow that business and cutting it would free Cigna to focus on priorities like its Evernorth specialty and care services division, its pharmacy benefits division, and its flagship employer plan business.
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