Cigna + Oscar expanding footprint on small businesses’ access to affordable health plans in Illinois
Cigna, a leading global health service company, and Oscar Health, Inc. (“Oscar”) (NYSE: OSCR), the first health insurance company built on a full stack technology platform, today announced that Cigna + Oscar1 small business health insurance will be available in Chicago (Cook county), as well as the counties of DuPage, Kane, Lake, and McHenry, pending regulatory approval.
“Chicago small businesses have endured a lot throughout the pandemic, and many have proven to be resilient in keeping their doors open. Through our partnership with Oscar, we are providing more choices for affordable, predictable and simple health coverage to small businesses at a time when they need it most,” said Brian Marsella, Midwest market president for Cigna.
With the new COVID-19 variants, small businesses again face challenges operating at capacity while keeping their staff and families safe. Cigna + Oscar conducted a survey finding that 88 percent of small business owners are prioritizing employee health, and 66 percent said health insurance is more important in their budgets now than prior to the pandemic.
“Small businesses have had to make extremely difficult decisions since the beginning of the pandemic, and continue to face an uphill battle with the ongoing threat of the COVID-19 variants,” said Louis DeStefano, head of the small group business and senior vice president of growth at Oscar. “Cigna + Oscar is designed to help these small businesses provide high-quality care to their employees at an affordable cost that allows them to continue operating.”
Illinois small businesses with between one and 50 employees2 will have access to unique services driven by the combination of Cigna’s provider relationships and Oscar’s consumer-centric, tech-driven approach to customer service and care navigation, including:
- Range of plan options across price points to meet the needs of every employee.
- Behavioral health benefits to help keep teams productive and healthy.
- Local and nationwide networks of quality doctors, hospitals, and specialists.
- Cigna LocalPlus®, a locally designed network of quality providers offering cost-effective medical care.
- Cigna Open Access Plus network, a broad national network of quality, cost-effective providers.
- 24/7 virtual urgent care to support employees wherever they are, at $0 copay.
- Affordable and easy-to-access pharmacy services.
- Express Scripts’ specialized pharmacists, nurses and specialty drug experts.
- Dedicated care team experts to help employees understand their benefits, find nearby care, and get the most value out of their plan.
Cigna and Oscar will share risk equally under a reinsurance agreement for solutions offered through this strategic partnership and plan to expand the partnership over time.