Cigna records $1.4B profit in Q3

Cigna saw its revenues and profits grow in the third quarter of fiscal year 2019, according to a recent earnings statement.

Three things to know:

1. Cigna's total revenues grew to approximately $38.6 billion in the third quarter, more than three times the $11.5 billion the health insurer posted in the same quarter of 2018. The growth can be attributed to recently acquired pharmacy benefits manager Express Scripts, which added $26 billion in pharmacy revenue.

2. The health insurer grew its medical membership to 17.1 million as of Sept. 30, up from 16.9 million year over year. 

3. Cigna ended the third quarter with net income of $1.4 billion, up 75 percent from $772 million reported in the third quarter of 2018. 

More articles on payers:
Humana to lay off 800+ employees
CMS delays start of primary care payment model
CEO of Texas Health Aetna out after 8 months

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