July 30, 2020 / 3:42 PM / 4 days ago

BRIEF-Cigna Says Healthcare Utilization Was Closer To Normal In June At About 0%-5% Lower - Conf Call

July 30 (Reuters) - Cigna Corp:

* CIGNA SAYS HEALTHCARE UTILIZATION WAS CLOSER TO NORMAL IN JUNE AT ABOUT 0%-5% LOWER - CONF CALL

* CIGNA EXPECTS UTILIZATION TO RISE IN THE BALANCE OF THE YEAR, ADDITIONAL COVID-19 TREATMENT COSTS AND LOWER ENROLLMENT IN ITS HEALTH PLANS DUE TO RECESSIONARY PRESSURES - CONF CALL

* CIGNA SAYS JULY’S HEALTHCARE UTILIZATION TRENDS RESEMBLE JUNE’S - CONF CALL

* CIGNA EXPECTS TO SEE FURLOUGHED EMPLOYEES TO MOVE INTO ITS COBRA HEALTH PLANS OR RETURN TO FULL EMPLOYMENT IN 2H 2020 - CONF CALL

* CIGNA SAYS SLOW RECOVERY IN THE U.S. EMPLOYMENT MARKET FACTORED INTO OUTLOOK FOR 2H 2020 AND 2021 - CONF CALL

* CIGNA EXPECTS MEDICAL CARE RATIO TO INCREASE BY 150-200 BASIS POINT IN 2H 2020 DUE IN PART TO POTENTIAL “HIGHER ACUITY” UTILIZATION - CONF CALL

* CIGNA EXPECTS NO IMPACT ON ITS BOOK OF BUSINESS AND OVERALL PERFORMANCE EVEN IF THE REBATE RULE IS IMPLEMENTED - CONF CALL Further company coverage:

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