Ceridian Strengthens Benefits Services Through Acquisition Of CIGNA's COBRA Business.Business Editors/Health/Medical Writers BLOOMFIELD, Conn. & MINNEAPOLIS--(BUSINESS WIRE)--April 7, 2004 New business brings important customers to Ceridian Ceridian, a leader in managed human resource solutions that maximize the value of people, today announced the acquisition of certain assets, including customer contracts, of CIGNA CIGNA CG (Connecticut General Life Insurance Company) INA (Insurance Company of North America) HealthCare's COBRA and retiree administration business. Under the terms of the agreement, Ceridian will provide COBRA administration services as well as retiree billing services to current CIGNA customers following a short transition period. "The acquisition from CIGNA builds on our current comprehensive COBRA administration experience," said Robert "Bo" H. Ewald, president of Ceridian Human Resource Solutions. "We welcome CIGNA's customers and will work hard to make the transition as smooth as possible for everyone." "This transaction certainly is a positive development - one that both allows CIGNA HealthCare to focus capital and resources efficiently and also enables COBRA and retiree participants to benefit from the specialized support of the leader in this field," said John Coyle John D. Coyle (born March 24, 1970) is a Canadian Business Consultant. Coyle started his career with Dundee United for whom he signed in 1950. His early years were interrupted by his National Service, while he also spent time on loan to Brechin City. , business lead, CIGNA HealthCare. "Ceridian shares our commitment to quality and innovation and is well equipped to meet the needs of our COBRA and retiree customers, effectively and cost-efficiently. We've been assured by Ceridian that our COBRA and retiree participants can expect to receive the same high level of service from Ceridian that they have come to expect from us." Ceridian is a leading independent COBRA administrator and has provided COBRA administration to companies since 1986 when Congress passed the Consolidated Omnibus Budget Reconciliation Act Consolidated Omnibus Budget Reconciliation Act, n.pr law that allows individuals to carry over health coverage from a previous job for a limited time at their own expense. (COBRA). The company provides managed human resource solutions to 116,000 businesses worldwide and over 25 million employees. About Ceridian Ceridian is changing the world of work by enabling companies to be free to succeed in their core business through its suite of innovative managed human resource solutions that include payroll and compensation, staffing, compliance, HR administration and employee effectiveness. Ceridian Corporation (NYSE NYSE See: New York Stock Exchange :CEN CEN - Conseil Européen pour la Normalisation. A body coordinating standardisation activities in the EEC and EFTA countries. ) is an information services See Information Systems. company serving businesses and employees in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada and Europe. For more information about Ceridian's comprehensive array of human resource solutions, visit www.myceridian.com or call 800.729.7655. About CIGNA HealthCare CIGNA HealthCare, headquartered in Bloomfield, Connecticut Bloomfield is a town in Hartford County, Connecticut, United States. The population was 19,587 at the 2000 census. Geography According to the United States Census Bureau, the town has a total area of 67.8 km² (26.2 mi²). 67.4 km² (26.0 mi²) of it is land and 0.4 km² (0. , provides medical benefits through managed care and indemnity health care plans to approximately 11.5 million people, dental coverage to approximately 12.1 million, behavioral health Behavioral health was first used in the 1980's to name the combination of the fields mental health and substance abuse. As an example, an organization serving both mental health and substance abuse clients might refer to its practice as behavioral health or coverage to approximately 14.2 million, and pharmacy benefits to approximately 8.9 million. "CIGNA HealthCare" refers to various operating subsidiaries of CIGNA Corporation (NYSE:CI). Products and services are provided by these operating subsidiaries and not by CIGNA Corporation. |
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