The individual commercial health customers that Cigna Corp. has been getting through the public exchange system have been a little older than the company expected.
David Cordani, the chief executive officer at Cigna (NYSE:CI), talked about the start of the public exchange system briefly during a conference call with analysts.
Cigna held the call to review fourth-quarter earnings.
Cigna is reporting $360 million in net income for the quarter on $8.1 billion in revenue, compared with $407 million in net income on $7.6 billion in revenue for the fourth quarter of 2012.
The company ended the quarter providing or administering health coverage for 14 million people, about as many people as it was covering a year earlier.
Most of the enrollees are in large or midsize U.S. employer groups, but the company also sells health coverage in other countries, and it has some enrollees in Medicare Advantage plans and in expatriate plans designed for U.S. workers who work outside the United States.
The company ended 2013 with 237,000 holders of individual coverage, up from 196,000 a year earlier.
Cordani said high medical costs hurt Medicare Advantage program earnings.