Products January 2, 2007

CIGNA Unveils Web Site Redesign

January 2, 2007 (PLANSPONSOR.com) - Insurance company CIGNA has launched its newly redesigned Web site, which it said should make it easier for users to get health and financial information.
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A CIGNA news release said the Web site offers new content encompassing the company’s HealthCare, Group and International businesses.   

CIGNA said   its www.cigna.com  site also features a new health and money section. The section provides health information and decision support tools to help users and their families stay healthy, cope with sudden illness or a chronic condition and effectively engage in their health care throughout the various stages of their life.

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Features in the new section include:

  • In-depth articles about managing chronic conditions, staying healthy, and handling unexpected health events;
  • Information for health care financial planning; and
  • Interactive tools to help estimate health risk factors, identify action steps to improve health and calculate health savings account and flexible spending account contributions.

According to the news release, the CIGNA member personal Web portal www.myCIGNA.com will be redesigned for launch during the first quarter of 2007. The redesigned CIGNA for Health Care Professionals portal, www.CIGNAforHCP.com , is also scheduled to launch later in 2007, the announcement said.

Administration January 1, 2007

Fannie Blasts Restraining Order Request

January 25, 2005 (PLANSPONSOR.com) - Mortgage giant Fannie Mae is fighting back against a Michigan county pension fund trying to block payouts to Fannie Mae executives with a request to a federal judge to block the move.
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The request by the Wayne County Employees’ Retirement System, a company shareholder, for a temporary restraining order would inject chaos into an already complicated legal process, according to a Reuters report.

It said the action sought by the Wayne County fund would result in “substantial hardship” to the company and force it to divert resources it is using to cooperate with ongoing internal and federal investigations into its accounting, Reuters reported. Fannie said the Wayne County pension fund request would require the company to produce millions of pages of documents and dozens of depositions.

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The Wayne County fund, which covers 5,800 retired county employees and owns $1 million in Fannie Mae stock, last week asked the court to block compensation payments to former Chief Executive Officer Franklin Raines and former Chief Financial Officer Timothy Howard (See  MI Pension Fund Slaps Fannie Mae with Lawsuit ). The fund argued that the legal move was needed to help Fannie boost capital and to repair confidence in the market after billions in accounting problems were uncovered last year.

The pension fund also asked for documents and depositions that Fanniesaid were too extensive to be gathered and submitted within the requested seven days.

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