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Cigna Group Expands Coverage for Home Phototherapy, Benefits Millions with Chronic Skin Conditions

The Cigna Group (NYSE:CI) is one of the best inexpensive stocks to buy according to hedge funds. On August 29, Phothera announced that Cigna has updated its coverage policy for home phototherapy, effective July 15. The change eliminates prior restrictions on the treatment, expanding access for Cigna’s 19.2 million members nationwide who have chronic skin conditions like psoriasis, eczema, and vitiligo.

The policy change follows a similar decision by Elevance Health/Anthem, which covers 47.5 million lives. With both Cigna and Elevance now covering home phototherapy without restrictions, more than 66.7 million insured Americans have expanded access to this non-invasive treatment. Home phototherapy has been clinically proven to achieve clearance or significant improvement in up to 80% of patients.

In the US, an estimated 8 million people have psoriasis, over 16 million live with eczema, and about 6.5 million have vitiligo. The policy decisions by Cigna and Elevance are expected to lower patient out-of-pocket costs by up to 90%. They may also encourage earlier intervention and reduce the need for more expensive treatments, such as biologic drugs. For insurers, home phototherapy can be a cost-effective alternative, potentially reducing annual treatment expenses by thousands of dollars per patient.

The Cigna Group (NYSE:CI) provides insurance and related products and services in the US. The company was formerly Cigna Corporation and changed its name to The Cigna Group in February 2023.

While we acknowledge the potential of CI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CI and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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