Based on markets and medical inflation Cigna Global has announced they will be implementing new pricing on their Cigna Close Care and Cigna Global Health Options (Silver, Gold and Platinum) plans. With effect from 15th September 2018, the new pricing will be automatically be applied to quotes generated from our Cigna Global Quote Tool.
For a full review of the new pricing and how this may impact you or your family please get in touch with me. I have provided an overview below:
- Cigna Global estimates that 40% of customers renewing on one of their Cigna Close Care and Cigna Global Health Options (Metal Plan), depending on their product options and modules selected, will receive a rate reduction as previous rate changes continue to have a positive impact.
- Claims experiences have been favorable for selected areas, ages and product tiers – as such Cigna Global has decided to pass these additional savings to their customers.
- Customers with International Vision & Dental (all tiers), Health & Wellbeing (all tiers) or Outpatient (Close Care and Silver tier) may receive a rate decrease. This is to avoid the potential situation where the cost of the module exceeds the maximum annual benefit limit.
- Cigna Global’s Renewal Retention Programme will ensure that a rate increase cap will be applied for few policies receiving larger increases.
- All modules for outbound US Citizens with worldwide cover (including USA) will increase by 2.5% due to increased cost expectations for this population.
Cigna Global prides themselves on offering competitive and sustainable pricing, reflecting medical trends and market dynamics. Adjusting their rates helps ensure long term success in global markets and to continue to offer a premium proposition with unparalleled customer service.
Overall I think this is another good news rate increase summary. All too often the trends have always seemed to be on an upward trajectory that in past years here in the U.S. have become unsustainable. I think Cigna Global continues to demonstrate their resolve to keep their products current and affordable.
If you would like a personal review or a new quote for a plan from Cigna Global simply complete the form below and we will send you an updated quote: