Cigna and Houston Methodist Reach Long-Term Agreement to Keep Quality Care Affordable
HOUSTON, March 2, 2020 /PRNewswire/ -- Cigna (NYSE: CI) and Houston Methodist have reached a long-term agreement that ensures access to quality care at Houston Methodist hospitals for Cigna customers at predictable, affordable rates. The agreement includes a strategic value-based program designed to improve quality of care while reining in costs for patients and their employers who pay for care through employer-sponsored health plans.
Separately, Cigna will now administer Houston Methodist's health plan for the hospital system's 26,000 employees, through Allegiance, Cigna's third party administrator business.
"This new agreement is great news for all of the people we serve – the Houston employers, individuals and taxpayers who pay for health care," said James Hickey, president of Cigna's South Texas market. "I'm grateful to Houston Methodist's team for their true collaboration during this process and their commitment to reaching a forward-looking agreement that advances health care quality and affordability."
"This is also great news for our Cigna patients and our employees who know we will work together for a long time without disruption," said Marc Boom, M.D., president and CEO of Houston Methodist. "We are pleased that Cigna recognizes the high value and quality provided by Houston Methodist, as both of our organizations are committed to providing our community access to unparalleled care. We know our employees will also be pleased to have Cigna administer our employee health plan."
Cigna Corporation (NYSE: CI) is a global health service company dedicated to improving the health, well-being and peace of mind of those we serve. Cigna delivers choice, predictability, affordability and access to quality care through integrated capabilities and connected, personalized solutions that advance whole person health. All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Cigna Health and Life Insurance Company, Cigna Life Insurance Company of New York, Connecticut General Life Insurance Company, Express Scripts companies or their affiliates, and Life Insurance Company of North America. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and other related products including group life, accident and disability insurance. Cigna maintains sales capability in over 30 countries and jurisdictions, and has more than 170 million customer relationships throughout the world. To learn more about Cigna®, including links to follow us on Facebook or Twitter, visit www.cigna.com.
About Houston Methodist
Houston Methodist is ranked by U.S. News & World Report as the No. 1 hospital in Texas and among the top 20 hospitals nationwide. Houston Methodist is the only nationally ranked Honor Roll hospital in the state and is designated as a Magnet hospital for excellence in nursing. Visit us at houstomethodist.org.
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Company Codes: NYSE:CI