Question · Q3 2025
Andrew Rice asked for a general ballpark estimate of the expected EPS growth for 2026, considering the varied performance across Cigna Healthcare, specialty and care services, and pharmacy benefit services, and inquired about assumptions for capital deployment. He also questioned employer receptiveness to the new rebate-free model, given past preferences for rebate pools.
Answer
David Cordani, Chairman and CEO, reiterated that Cigna Healthcare and specialty and care services are expected to grow at the higher end of their long-term algorithms, while pharmacy benefit services will decline in 2026. He noted that 2026 capital deployment, including share repurchases and deleveraging, would be back-half weighted. Cordani emphasized the new model's transparency and consumer benefits, stating it would be the standard offering, but Cigna would maintain a consultative approach for clients preferring other options.