Oct Industry Notes: BCBS Acquires Cigna

Illinois: BCBS Illinois Acquires Cigna Medicare Business 

Blue Cross and Blue Shield of Illinois entered into a definitive agreement to acquire Cigna Healthcare’s Medicare Advantage, Supplemental Benefits, Medicare Part D and CareAllies businesses. The transaction is expected to be completed in the first quarter of 2025, subject to customary closing conditions and required regulatory approvals. 

Each company will sell their products under their respective brands for the 2025 plan year through the annual enrollment period from Oct. 15 through Dec. 7, 2024. People who purchase Cigna Healthcare or BCBSIL plans during open enrollment will remain enrolled in and covered by the plan they selected for the duration of the 2025 plan year. 

The terms of current Provider Services Agreements with Cigna Healthcare Medicare Advantage, including reimbursement rates, will remain in effect and are not otherwise affected. Following finalization of the transaction, billing, prior authorization or provider network contacts or processes are not expected to change.