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CIGNA Teams with Yahoo! Enterprise Solutions to Help People Better Manage Health Care and Retirement Plan Needs Online

Submitted by: Cigna Corporation

Categories: Human Resources & Diversity1

Posted: Jan 08, 2002 – 11:00 PM EST

 

Multi-Year Agreement to Offer 16 million CIGNA Plan Participants and Members Personalized Benefits Web Sites - Allowing Them to Better Handle Vital Health and Retirement Plan Decisions

CIGNA Corp. (NYSE: CI) and Yahoo! (Nasdaq: YHOO) today announced a multi-year agreement that will give 16 million CIGNA health care members and retirement plan participants the opportunity to have personalized benefits Web sites based on the My Yahoo! interface starting in 2002.

Consumers will have more control over their health and retirement plans, with online access from work, home, on the road and through their My Yahoo! home page. Employers will benefit from improved service and information accuracy, as well as simplified administration.

"We're teaming with Yahoo! to help consumers use the full power of the Internet to manage two of the most important aspects of life - their health and financial security," said CIGNA Chairman and CEO H. Edward Hanway. "With this online service, consumers will have instant access to the tools they need to choose a doctor, review claims or order medicines. They'll also be able to view daily updates of their retirement plan performance, move 401(k) funds between accounts, change contributions and model their financial goals - all online."

"This agreement represents another step forward in how Internet communications technology can make a big difference in the quality of life of individuals," said Yahoo! Chairman and CEO Terry Semel. "The depth of personalization that will be offered to CIGNA's customers is unmatched in their industry. These new online capabilities will help drive customer satisfaction by allowing health and retirement members to be more directly involved with managing their benefits."

The individualized Web sites will be generated through the use of personalization tools from Yahoo!'s business communications and corporate portal division, Yahoo! Enterprise Solutions http://enterprise.yahoo.com).

The CIGNA online benefits offering, which is scheduled to begin rolling out in the first half of 2002, can be customized by employers and personalized for employees.

The personalized Web site capability is expected to be available to all CIGNA Retirement & Investment Services plan participants in 2002 and most of CIGNA HealthCare's 14.3 million members by the end of 2002, and will ultimately allow consumers to do the following:

-- Instantly review medical claims and manage their plans. CIGNA HealthCare members will be able to review their medical and dental plan benefit information; research their claims; update personal information; locate, select or change health care providers; and order CIGNA HealthCare ID cards.

-- Perform online transactions, such as ordering medications. Members will also have anywhere/anytime access to the CIGNA Tel-Drug online pharmacy offering extensive information, drug refill reminders, and home delivery of prescription drugs. In addition, they may access the CIGNA Healthy Rewards(R) alternative medicine program, which currently includes discounts for acupuncture, chiropractic care, massage, cosmetic dentistry, laser vision correction surgery, eye wear and hearing care services.

-- Access to a consolidated, interactive snapshot of their retirement plans. CIGNA Retirement & Investment Services plan participants will have access to their CIGNA retirement and pension plan information and tools online. Online capabilities will include: an integrated view of their accounts across all plans; the ability to conduct fund transactions; access to education materials and retirement/savings tools personalized to the individual's life stage; links to online guidance and advice services; and self-directed brokerage site and after-tax savings.

-- Receive personalized health and investment news. Members and plan participants can access timely and customized health and retirement savings information, such as the CIGNA HealthCare Healthy Babies(R) program and the financial education program, Academy by CIGNA(R), as well as Yahoo! content.

The CIGNA initiative is an example of how Yahoo! is helping companies move their business critical communications to the Internet by organizing, presenting, and distributing information to consumers in a user-friendly format.

"By joining CIGNA and Yahoo!'s capabilities, we are creating individualized benefits Web sites that will help both employers and consumers better manage their health and investment decisions and transactions," said David A. Gordon, the head of CIGNA E-commerce. "This will improve employers' and consumers' overall benefits experience in ways that make a real difference in their day-to-day lives."

Currently CIGNA's Internet Web site, CIGNA.com, and its applications draw an average of nearly 15 million page views per month. Online benefits information and tools provided through CIGNA.com have won numerous awards. Most recently: CIGNA.com was named "Best of the Web" in Benefits Management by Business Insurance, ranked in InfoWorld's "Top 100" for companies creatively using enterprise technologies and received an "eHealthcare Leadership Award" from eHealthcare Strategy & Trends.

About CIGNA

CIGNA Corp., headquartered in Philadelphia, and its subsidiaries
constitute one of the largest publicly owned employee benefits organizations in the United States. Its subsidiaries are major providers of employee benefits offered through the workplace, including health care products and services; group life, accident and disability insurance; retirement products and services; and investment management. As of September 30, 2001, CIGNA Corp. had consolidated assets of $88.7 billion and shareholders' equity of $5.3 billion. Full-year 2000 revenues totaled $20 billion. Web site: http://www.cigna.com.

About Yahoo!

Yahoo! Inc. is a leading global Internet communications, commerce and
media company that offers a comprehensive branded network of services to more than 218 million individuals each month worldwide. As the first online navigational guide to the Web, http://www.yahoo.com is the leading guide in terms of traffic, advertising, household and business user reach. Yahoo! is the No. 1 Internet brand globally and reaches the largest audience worldwide. Through the Yahoo! Enterprise Solutions division, the company also provides online business and enterprise services designed to enhance the productivity and Web presence of Yahoo!'s clients. The company's global Web network includes 24 World properties. Headquartered in Sunnyvale, Calif., Yahoo! has offices in Europe, Asia, Latin America, Australia, Canada and the United States.

Yahoo! and the Yahoo! logos are trademarks and/or registered trademarks of Yahoo! Inc. All other names are trademarks and/or registered trademarks of their respective owners.

For more information, please contact:

Wendell Potter CIGNA Corporation
Phone: (215) 761-4450

For more from this organization:

Cigna Corporation

 

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