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Cigna, Oscar Health to Offer Fully Insured Benefits to Small Businesses

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Cigna and Oscar said they were aiming the benefit package at a “highly dynamic space” that accounts for 40% of net job creation, serving 15 million people.

Merger

Cigna, the fourth-largest U.S. health insurer with 15.9 million beneficiaries, today announced a partnership with the smaller, technology-driven Oscar Health to provide commercial health benefits to small businesses.

The two insurers announced the step in a joint statement.

The companies plan to offer coverage through the Cigna + Oscar brand in the small group market.

Related: Cigna Healthcare Exchange Plans Available in 19 Markets Across 10 States

Services will include integrated medical, behavioral and pharmacy services, access to high-performing provider networks, support from a dedicated concierge team to answer questions about coverage, and digital first support featuring 24/7 telemedicine at no charge, according to the statement from the companies.

In making the announcement, Cigna and Oscar said they were aiming the benefit package at a “highly dynamic space” that accounts for 40% of net job creation, serving 15 million people.

The companies will share risk under a reinsurance agreement for solutions offered through the partnership. Products will launch in select markets in 2020 pending regulatory approvals.

Oscar Health, founded in 2012, covers 400,000 lives across small group and Medicare Advantage, according to a company spokeswoman.

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