Cigna inks deal to sell Medicare business to HCSC for $3.7B

Cigna will sell off its Medicare business to Health Care Service Corporation in a deal valued at $3.7 billion, the company announced Wednesday. HCSC will acquire Cigna’s Medicare Advantage, Part D, supplemental benefits and CareAllies businesses, and the parties expect the deal to close in the first quarter of 2025. In addition, the Blues insurer has entered into a four-year arrangement with Cigna’s Evernorth subsidiary, which will continue to provide pharmacy services to the Medicare plans should the sale close.