Cigna+Oscar small business health insurance product coming to Philadelphia – Philadelphia Business Journal – The Business Journals

Cigna Corp. and Oscar Health are bringing their health insurance product to small business owners in the Philadelphia region.
The product, Cigna+Oscar, still requires regulatory approval. It is expected to be available to businesses with between one and 50 employees beginning Jan. 1.
The insurers’ plan is to offer health coverage to small business owners in Philadelphia, Bucks, Chester, Montgomery and Delaware counties.
Under the partnership established in January 2020, the small business health coverage is insured by Connecticut-based Cigna Health and Life Insurance Co. (NYSE: CI) and administered by Oscar Health Administrators, a tech-driven health insurance company based in New York City.
“Cigna+Oscar had a strong first half of the year with respect to growth –– we recently surpassed the 50,000-member milestone,” said Louis DeStefano, head of the small group business and senior vice president of growth at Oscar. “We are excited to bring this momentum to Philadelphia and look forward to working with small businesses throughout the area.”
DeStefano said the expansion into the Philadelphia region will make Pennsylvania the ninth state where Cigna+Oscar is offered.
“This is a great way for a major legacy player like Cigna and a new writer like us to combine and compete in a market where there’s only a handful of carriers that offer plans to small employers,” he said. “Philadelphia is a market that Cigna has been in for a long time.”
Oscar, which differentiates its products through its use of phone apps and other technology, expanded into the Philadelphia market three years ago when it began offering coverage to individuals getting health insurance through the exchanges established under the Affordable Care Act. The company declined to disclose how many individual members it has signed up in this region since 2019.
The Cigna+Oscar plan for small business owners will provide, pending regulatory approval, access to Cigna’s national network of more than 1 million doctors and other care providers and more than 17,000 hospitals and other clinical care facilities.
Other features for members will include personalized care teams, apps for locating and accessing care providers and ordering and refilling prescriptions, and access to mental health resources with step-tracking rewards of up to $100 per year.
Oscar’s Virtual Urgent Care feature allows members to talk with a doctor about urgent health issues at no additional cost 24 hours a day, seven days a week.
“Employers can help their workforce stay healthy by providing innovative health plans that offer many new ways for people to access care and stay on top of their health goals,” said Bruce Grimm, senior vice president and commercial segment lead at Cigna. “In this environment, small businesses need health plans that are affordable, predictable, and simple.”
Cigna and Oscar will share risk equally under a reinsurance agreement governing the partnership.
The Cigna+Oscar coverage for small businesses is now available in Kansas City, St. Louis, Chicago, select California counties, select Arizona counties, and throughout the states of Georgia, Tennessee and Connecticut.
“We think we can succeed in Philadelphia, where there is a need for more options,” DeStefano said.
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