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5 Tips for Long-Term Health Planning Every Cigna Employee Should Consider

Healthcare Provider Update: Healthcare Provider: Cigna Cigna is a global health services provider that offers a broad range of health insurance plans, including individual and family plans, employer-sponsored group plans, disability insurance, and dental, behavioral health, and pharmacy management services. Known for its commitment to connecting customers with care, Cigna also emphasizes wellness and preventive health options in its offerings. Healthcare Cost Increases in 2026 As the healthcare landscape evolves, consumers can expect substantial increases in health insurance premiums for 2026. Recent forecasts indicate that Cigna will raise individual market premiums by an average of 29.4% in states like Colorado. This surge is attributed to a combination of factors, including rising medical costs, anticipated losses of federal premium subsidies, and aggressive rate hikes across the industry. If enhanced tax credits expire as expected, over 22 million ACA marketplace enrollees could face out-of-pocket premium hikes exceeding 75%, compounding the financial strain on American families seeking affordable coverage. Click here to learn more

'Cigna employees preparing for the later stages of life benefit from addressing long-term planning early by taking steady, proactive steps that align their personal goals with the realities of aging.' - Paul Bergeron, The Retirement Group, a division of Wealth Enhancement.

'Cigna employees can strengthen their long-term planning by taking thoughtful, early steps that support clarity and confidence as they age to stay proactive and intentional in shaping their future.' - Tyson Mavar, The Retirement Group, a division of Wealth Enhancement.

In this article, we will discuss:

How to prepare for the challenges of aging through proactive planning.
How to organize your living situation, documents, and family communication.
How to use tools like HSAs and long-term care insurance to support future needs.

Important lessons learned

- Although planning is never too late, starting early can help you get ready for the difficulties that come with growing older, especially for employees navigating the benefit programs offered through Cigna.

- Clearly state your expectations and ambitions, including where you want to live and how you want to maintain your preferred lifestyle.

- Organize vital paperwork and make sure your family is aware of your financial situation and wishes.

- To assist with future medical costs, consider long-term care insurance options and health savings accounts (HSAs).

Government estimates reveal that someone turning 65 today has roughly a 70% chance of needing some type of long-term care services or supports in later life. ¹ This highlights why planning matters for those preparing for retirement from Cigna. With odds like that, having a plan in place can help you or your loved ones get ready for medical, financial, or personal challenges that may arise.

Thinking about these things isn't always simple, and many put off planning until facing a crisis with an elderly parent, spouse, or themselves. Our understanding of our needs is often shaped by personal experiences, whether involving an abrupt loss, a long illness, or many years of independence. While some people use skilled nursing facilities, senior communities, or at-home care, others rely on help from family or neighbors. These experiences highlight the importance of not making rushed decisions or leaving critical choices to others.

Planning may be done at any age, but the longer you delay, the harder it may be—something many Cigna professionals recognize as they approach retirement. With the right information and guidance, you can create a long-term health plan that reflects your objectives, accounts for potential obstacles, and helps you prepare for future costs as you age.

1. Clarify your objectives and expectations

Your future vision should be the first step in any long-term plan, including for those charting retirement paths after a long tenure with Cigna. Consider what you want for yourself and what you believe would be an ideal outcome. Knowing your objectives helps provide direction while shaping your plan.

Being realistic about what you might anticipate in the coming years is also important. Even if your experience may differ from past generations, your family’s medical history can offer insight. Conversations with your health care providers can help you understand what to monitor and how to support your health over time. Reflecting on how much assistance you may need—and from whom—allows you to make choices aligned with the quality of life you want.

2. Evaluate your living conditions

Think about whether your current home will still meet your needs as you age, a common consideration among employees preparing for retirement from Cigna. Home accessibility plays an important role since falls remain the leading cause of injury-related deaths among people 65 and older. ²

Modifying your home—such as installing ramps, handrails, or improved accessibility—can be easier when done proactively rather than in an emergency. If modifications are too costly or impractical, downsizing to a home more suitable for aging needs may be worthwhile. Moving earlier also gives you more time to adjust.

Proximity to support is another key factor. Living near dependable family members, trusted neighbors, or health care providers can make a meaningful difference when more assistance becomes necessary.

3. Arrange your paperwork

Clear documentation allows your wishes to be carried out and gives your family what they need in an emergency, which is especially important for those coordinating retirement assets earned during years at Cigna. Essential estate planning documents include:

- A will , which outlines how assets not governed by beneficiary designations or titling should be distributed and who will manage your affairs after your passing.
- A financial power of attorney , permitting someone to handle your financial matters if you become unable to do so.
- A medical power of attorney (health care proxy) , allowing someone to receive information and make medical decisions if you cannot.
- A living will , documenting your wishes regarding care and end-of-life decisions.

Preparing these documents in advance makes it easier for your family to navigate difficult times.

4. Speak with your relatives

Open communication improves planning, particularly for families where one or more members are transitioning from a career at Cigna. While discussing finances and end-of-life decisions can feel uncomfortable, it is vital for your loved ones to know where documents are stored and understand the general structure of your financial affairs. You do not need to disclose every detail—just note how many accounts you hold, where they are located, how they are titled, and who should be contacted in an emergency, such as executors or trustees.

5. Consider health savings accounts and long-term care “hybrid” insurance policies

Those enrolled in a qualifying high-deductible health plan—including some used by employees at Cigna—may be eligible to contribute to a Health Savings Account (HSA). These accounts allow contributions that are pre-tax or tax-deductible, offer tax-free growth, and allow tax-free withdrawals for qualified medical expenses. Although contribution limits apply, HSAs can support both current and future medical needs.

Another option is hybrid long-term care insurance, which links long-term care benefits to life insurance. If you develop a qualifying cognitive condition or cannot perform at least two activities of daily living (such as bathing or dressing), these policies may allow access to part of the death benefit for care. Even if long-term care benefits are never used, the life insurance component typically provides value to beneficiaries.

The Retirement Group can help

Long-term care planning can be technically and emotionally challenging, particularly for those coordinating benefits tied to years of service with Cigna. The Retirement Group can help you review your options, understand potential financial implications, and shape a plan tailored to your needs. You can call (800) 900-5867 to learn more or speak with our team.

Engage in professional work

Working with a knowledgeable specialist allows you to address both the financial and personal dimensions of long-term planning. With thoughtful preparation, you can build a plan that reflects your goals and provides clarity for you and your loved ones as you age.

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Sources:

1. Administration for Community Living. “ How Much Care Will You Need? ” U.S. Department of Health & Human Services, 18 Feb. 2020.

2. Centers for Disease Control and Prevention. “ About Older Adult Fall Prevention ,” May 16, 2024.

3. Internal Revenue Service. Publication 969: Health Savings Accounts and Other Tax-Favored Health Plans. Internal Revenue Service, 2024.

4. National Association of Insurance Commissioners. A Shopper’s Guide to Long-Term Care Insurance. NAIC, 2019.

5. National Institute on Aging. “Advance Care Planning: Advance Directives for Health Care.” National Institutes of Health, 31 Oct. 2022.

As an employee of CIGNA Corporation, what steps should you consider taking to understand the implications of the pension plan amendments established under recent legal interpretations? CIGNA Corporation has experienced significant changes in its pension plan, which resulted from the Amara case. In light of these changes, what should employees examine regarding their accrued benefits, and how might the historical context of these amendments impact their retirement planning?

Employees of CIGNA Corporation should thoroughly review their accrued benefits under the pension plan amendments following the Amara case, which reformed the employer's cash balance plan. It's essential to analyze how these changes affect the value of their pension benefits, especially for employees who joined the company before 1997. Understanding these amendments can significantly impact retirement planning(CIGNA Corporation_May 2…).

In what ways does the concept of ""wear-away"" as discussed in the context of CIGNA Corporation's pension plan amendments affect current employees nearing retirement? Understanding how this mechanism operates within the pension plan can help employees better strategize their retirement. Employees at CIGNA Corporation should analyze whether they could potentially experience delays in benefit accrual as a result of these changes and the legal principles that underpin them.

The "wear-away" concept, introduced in CIGNA’s pension plan amendments, can delay benefit accrual for employees nearing retirement. This mechanism often results in a period where no additional benefits are accrued, which could affect employees' retirement timing. Employees should carefully evaluate whether this delay might affect their pension expectations and strategize accordingly(CIGNA Corporation_May 2…).

How can CIGNA Corporation employees determine whether the current pension plan accurately reflects their rights under ERISA? With ongoing legal interpretations and potential reforms stemming from court rulings, employees need to assess how these rulings apply to the pension plan's amendments. This may require looking into the details of the summary plan descriptions and how to clarify their rights to future benefits.

To ensure that CIGNA’s pension plan reflects their rights under ERISA, employees should examine the summary plan descriptions and other relevant documents. Legal rulings like the Amara case can lead to reforms, so employees must clarify how these decisions impact their future benefits(CIGNA Corporation_May 2…).

What resources are available to CIGNA Corporation employees wishing to seek personalized advice regarding their specific retirement scenarios, particularly in light of changes brought about by the Amara case? Understanding the complexities of retirement benefits is crucial, and employees may benefit from tapping into CIGNAâ€™s human resource department or designated benefits counselors for guidance tailored to their circumstances.

Employees seeking personalized advice regarding retirement planning, especially in light of the Amara case, should consult CIGNA’s human resource department or designated benefits counselors. These professionals can provide guidance tailored to individual retirement scenarios, ensuring a clear understanding of pension and 401(k) options(CIGNA Corporation_May 2…).

How does the restructuring of the CIGNA Corporation's pension and 401(k) plans impact the overall retirement benefits landscape for employees who joined before and after the 1997 changes? Employees should look at the comparative advantages and disadvantages provided by both plans to make informed decisions regarding their retirement savings strategies and expected outcomes.

CIGNA employees who joined before and after 1997 should analyze the restructuring of the pension and 401(k) plans. The changes led to different retirement benefits, with cash balance plans affecting post-1997 employees. Comparing both plans’ advantages and disadvantages is crucial for making informed decisions about savings and retirement strategies(CIGNA Corporation_May 2…).

To what extent are CIGNA Corporation employees safeguarded against the financial impacts of fluctuations in interest rates in relation to their pension benefits? Employees should be aware of how the pension plan uses interest rate assumptions and their potential implications for the valuation of their pension benefits, particularly those who have been affected by the changes introduced in 1998.

Employees should understand how interest rate fluctuations impact the valuation of their pension benefits, especially those affected by the 1998 changes. Interest rate assumptions play a crucial role in determining the value of cash balance pensions, and employees must stay informed about these variables(CIGNA Corporation_May 2…).

What procedural steps must CIGNA Corporation employees follow to contest any discrepancies or misunderstandings about their pension benefits? Knowledge of CIGNA Corporation's dispute resolution process can empower employees to take action when they feel their rights have not been adequately represented or upheld, particularly in the wake of significant plan amendments.

To contest discrepancies in their pension benefits, CIGNA employees must follow the dispute resolution procedures laid out by the company. This process is especially important after the significant amendments resulting from the Amara case, as employees may need to defend their rights to accrued benefits(CIGNA Corporation_May 2…).

How has the legal environment surrounding pension plans, particularly through cases like the Amara lawsuit against CIGNA Corporation, influenced the benefits structure offered to employees? This question encourages employees to explore how changes at the judicial level redefine what retirement benefits can look like and the implications for their long-term financial security.

The Amara lawsuit influenced CIGNA’s pension structure by leading to a judicial reformation of the pension plan. Employees should explore how these legal decisions have reshaped the benefits landscape, as it directly affects their long-term financial planning and retirement security(CIGNA Corporation_May 2…).

What specific changes in eligibility criteria for early retirement benefits should current CIGNA Corporation employees be aware of, especially regarding the transition to the cash balance plan? Employees need to scrutinize the implications of these changes and how they may affect their decisions about early retirement and associated benefits.

Employees should be aware of changes to early retirement eligibility resulting from the transition to a cash balance plan. These adjustments, introduced after 1997, may alter the terms under which early retirement benefits are accessible, impacting decisions about retirement timing(CIGNA Corporation_May 2…).

How can CIGNA Corporation employees effectively reach out to the HR department or benefits specialists to get more information about their retirement options? Understanding the channels of communication established within the company for discussing benefits will be crucial for employees seeking clarity on their rights and the provisions of the pension plan following the recent amendments.

CIGNA employees can reach out to the HR department or benefits specialists for more information on their retirement options. These channels provide crucial insights into pension plan amendments and can clarify how the Amara case and other legal changes affect employees’ retirement benefits(CIGNA Corporation_May 2…).

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

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Cigna offers RSUs and stock options to certain employees. The RSUs vest over a specific period, encouraging retention.