July 8, 2015 by Tony Novak
Cigna seems to be one of the preferred health insurance carriers at Freedom Benefits for affluent individuals in the individual insurance exchanges that offer this plan. This insurance is not available everywhere but it will be automatically quoted as one of the options if you live in an area where Cigna plans are available when you use the individual health insurance exchange. Each state operates an exchange and there are a number of privately managed individual insurance exchanges. Freedom Benefits uses Members Insurance Exchange. Most people who fall below the threshold to receive an insurance premium subsidy elect to receive the savings as a reduction in the monthly premium that they pay. But that strategy can be risky if it later turns out that you do not qualify for the amount of subsidy selected. Millions of Americans are now in debt to the IRS as a result of this strategy gone wrong. If your income fluctuates it may make sense to pay the full isted premium on a private exchange and then take the tax savings later at tax savings time if you qualify.
The point is that Cigna is typically not the least expensive plan offered but seems to enjoy the highest member ratings among our users. For that reason it is more likely to be chosen by individuals who are not looking for the lowest cost “bottom line”.