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As of 2023, PBMs managed pharmacy benefits for 275 million Americans and the three largest PBMs in the US, CVS Caremark, Cigna Express Scripts, and UnitedHealth Group’s Optum Rx, make up about 80% of the market share covering about 270 million people [4] [5] with a market of almost $600 billion in 2024. [6]
The Cigna Group is an American multinational for-profit managed healthcare and insurance company based in Bloomfield, Connecticut. [2] [3] Its insurance subsidiaries are major providers of medical, dental, disability, life and accident insurance and related products and services, the majority of which are offered through employers and other groups (e.g., governmental and non-governmental ...
In 2010, CareSource announced expansion of its provider network in Southeastern Ohio through a partnership with Quality Care Partners (QCP), a physician-hospital organization (PHO). [13] In 2012, the company announced a partnership with Humana. This partnership worked to serve dual-eligible populations, or individuals who qualify for both ...
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Payments are based upon the plan's "schedule of benefits" and are usually paid directly to the service provider. These plans cost much less than comprehensive health insurance. Annual benefit maximums for a typical scheduled health insurance plan may range from $1,000 to $25,000.
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2001 - Medical Mutual's Preferred Provider Organization (PPO), SuperMed Plus, is recognized as the first PPO in the United States to earn Full Accreditation from the National Committee for Quality Assurance. 2003 - Medical Mutual purchased Consumers Life Insurance Company, [10] which held licenses to sell insurance in 38 states.
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