Cigna and Standard Security Life Insurance Company of New York, a wholly owned subsidiary of Independence Holding Company (IHC) have entered into a new business relationship to serve middle businesses.
Under the partnership, 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.
IHC is engaged in the life and health insurance business through its insurance subsidiaries Standard Security Life Insurance Company of New York, Madison National Life Insurance, and Independence American Insurance.
IHC chief operating officer David Kettig said 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,” Kettig said.
Cigna Payer Solutions president Ron Vance this relationship is part of 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 company offer directly to employer customers.