CORRECTION: The Cigna Group Announced Late Friday It Has Settled Pending Legal Issues Related To Past Medicare Advantage Risk Adjustment Practices And Will Pay ~$172M Under Agreement With Federal Government
Portfolio Pulse from Charles Gross
The Cigna Group (NYSE:CI) has settled pending legal issues related to past Medicare Advantage risk adjustment practices. The company will pay approximately $172 million under agreements with the federal government, resolving a False Claims Act lawsuit and an investigation related to past risk adjustment submissions. This allows the company to move beyond industry-wide legal disputes and focus on delivering value to customers and taxpayers.
September 30, 2023 | 1:14 pm
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Cigna's settlement of legal issues related to past Medicare Advantage risk adjustment practices for $172 million could potentially impact the company's short-term financials but allows it to focus on its core business.
The settlement of $172 million is a significant expense for Cigna and could impact its short-term financial performance. However, the resolution of these legal issues removes a major uncertainty for the company and allows it to focus on its core business, which could be positive in the long term.
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