The insurer said the move comes as the payer looks forward to a “new chapter.” The announcement arrives roughly two weeks after Indianapolis-based Anthem terminated its merger agreement with Cigna.
Beginning July 1, Cigna will offer up to four weeks of paid leave for employees acting as caretakers to children and ill family members or those qualifying for military support, according to Hartford Courant. In addition, Cigna said it would ensure all employees have at least 12 weeks of paid maternity leave and four weeks of paid paternity leave.
Cigna shares were trading at roughly $163.24 on Thursday, according to Reuters. The benefit awards total between $35 million and $40 million.
Editor’s note: This article was updated May 30 at 9:06 a.m. to include information about Cigna’s expanded paid leave.
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