Cigna completes its acquisition of Great American Supplemental Benefits Group
We are excited to share with you that as of August 31, 2012, Cigna’s acquisition of Great American Supplemental Benefits Group (GASB) is completed. We expect the strength of our combined teams will add value within the U.S. Supplemental, Medicare Supplement, and Retail segments – resulting in more opportunities for our customers and agents. Great American Supplement Benefits Group is one of the country’s largest Medicare Supplement benefits providers, serving approximately 115,000 customers and over 125,000 customers with the national individual supplemental product business.
The organization formerly known as GASB will now be called Cigna Supplemental Benefits and will continue to operate out of its current location in Austin, Texas. Cigna Supplemental Benefits will focus on developing and introducing high-quality Medicare Supplement and Individual Supplemental products focused on the customer. In alignment with our strategy, we expect this partnership to offer quick entry into new markets, a highly scalable platform, and a strong product base on which to build. We intend to take that success to a new level by drawing on Great American Supplemental Benefits Group’s core competencies, integrating them across our business, and expanding them into diversified products and integrated services.
What does this mean for me as a broker?
The Cigna and Great American Supplemental Benefits Group relationship will help to generate incremental value to those we serve across the Individual & Family Plan business by offering access to supplemental products in the near future. This broader range of products will mean greater growth and retention opportunities for your book of business and make you more competitive in today’s market.
What does this mean for my existing Cigna customers?
Your existing Cigna customers will continue to receive the same high-quality service they do today. This acquisition will have no impact on their current benefits. In the near future, however, this transaction will expand the product offerings available to your customers.
We will continue to assess products and distribution opportunities and will share more information as it becomes available. Please see the attached Frequently Asked Questions document and visit www.CignaForBrokers.com or www.cignasupplementalbenefits.com for additional information and links to valuable resources.
Together, Cigna and Great American Supplemental Benefits Group will work to drive positive change in the healthcare product and delivery system. We’re combining the best of both companies’ products and capabilities and are excited about the opportunities ahead. We share a commitment to delivering the highest quality and greatest value in healthcare benefits and services. We appreciate your continued partnership. If you have any questions, please reach out to your local Cigna Sales Representative.
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Jesse Smedley is the Principal Broker for iHealthBrokers and the founder, president, and CEO of Smedley Insurance Group, Inc. and iHealthBrokers.com. Since the inception of SIG in 2007, Jesse has been dedicated to helping people save money on their health insurance by providing them with resources to educate themselves on all their health insurance options, both under age 65 and Medicare beneficiaries. He is featured in many publications as well as writes regularly for expert columns regarding health insurance and Medicare.