Cigna plans major expansion of Medicare Advantage business

Cigna is planning to expand its Medicare Advantage footprint by 14 percent next year, according to Forbes. 

The insurer plans to enter 37 new counties with individual health maintenance organization plans and 43 new counties with individual preferred provider organization Medicare Advantage plans in 2020.

"We see tremendous growth opportunity in MA, starting in 2020," Cigna CEO David Cordani told analysts on the company's second-quarter earnings call, according to Forbes.

Cigna is joining a group of well-known health plans and startups looking to capitalize on new rules that allow Medicare Advantage plans to offer more benefits to seniors.

Cigna's Medicare Advantage business had 440,000 members at the end of the second quarter,  significantly fewer than such rivals as UnitedHealth, Aetna and Humana.

Read the full report here

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