Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Health Insurance

CIGNA To Acquire Mini Med Firm

Your article was successfully shared with the contacts you provided.

A national managed care company is buying its way into the limited-benefit health plan market.

CIGNA HealthCare, Bloomfield, Conn., a unit of CIGNA Corp., Philadelphia, has agreed to acquire Star HRG, Phoenix, the mini med arm of HealthMarkets Inc., North Richland Hills, Texas.

The price of the deal was not immediately available.

Star HRG, which has 320 employees, sells the Starbridge family of low-priced “mini medical” insurance products, which usually provide some access to preferred provider networks and small amounts of health insurance coverage.

More than 1,000 employers are using Star HRG plans, and those plans are covering about 200,000 employees, according to CIGNA HealthCare.

“Many of our national and middle-market accounts have expressed the desire to make simple and affordable health benefits coverage available to their employees who otherwise may not be eligible for benefits,” says David Cordani, president of CIGNA HealthCare.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.