CIGNA And Independence Holding Company Announce New Partnership To Serve Middle To Small Businesses
STAMFORD, Conn., Dec. 2, 2010 (GLOBE NEWSWIRE) -- CIGNA and Standard Security Life Insurance Company of New York (SSLICNY), a wholly owned subsidiary of Independence Holding Company (NYSE:IHC) announced today they have forged a business relationship in which CIGNA will assist IHC's marketing of stop-loss insurance through Third Party Administrators (TPA) who serve middle to small market businesses that self-fund their health benefits.
"CIGNA provides self-funded clients with the cost effectiveness of the CIGNA-contracted physician, transplant, prescription drug and other networks, plus disease and large case management services. When combined with IHC's expertise in writing stop-loss insurance, this relationship can bring significant value to middle and small market self-funded employers," said David Kettig, Chief Operating Officer of IHC.
Through its three insurance companies (Standard Security Life Insurance Company of New York, Madison National Life Insurance Company and Independence American Insurance Company) IHC has been a leader nationally in writing employer medical stop-loss for more than 20 years.According to Ron Vance, President CIGNA Payer Solutions: "This relationship is part of our strategy to deliver value to employers who use Third Party Administrators to service their self-funded benefit plans through industry leaders like IHC. This relationship is in addition to CIGNA's flagship stop-loss business that we offer directly to our employer customers." Mr. Kettig also added, "As a result of health care reform, we believe that smaller employers will increasingly see the virtues of self-funding and may need to purchase supplemental insurance to protect against catastrophic claims. IHC was one of the first carriers to adapt their product offerings to the new requirements under health care reform, including offering unlimited maximums, and we stand ready to quickly adapt to future market requirements." For more information please CONTACT Joel McKeever at 212-355-4141 or visit www.ihcgroup.com . About Independence Holding Company IHC is a holding company principally engaged in the life and health insurance business and the acquisition of blocks of policies through its insurance company subsidiaries (Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc. and Independence American Insurance Company) and its managing general underwriters, third-party administrators, and marketing affiliates. Standard Security Life markets medical stop-loss, small group major medical, short-term medical, major medical for individuals and families, limited medical, group long and short-term disability and life, dental, vision and managed health care products. Madison Life sells group life and disability, employer medical stop-loss, small group major medical, major medical for individuals and families, short-term medical, dental, vision, and individual life insurance. Independence American offers medical stop-loss, small group major medical, short-term medical, and major medical for individuals and families. IHC owns certain subsidiaries through its majority ownership of American Independence Corp. (Nasdaq:AMIC), which is a holding company principally engaged in the insurance and reinsurance business.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV