Core Insights - Cigna is responding to dissatisfaction with health insurers and pharmacy benefit managers (PBMs) by pledging to make healthcare more affordable and accessible for customers while maintaining profitability [3] - Express Scripts, a major PBM under Cigna, is transitioning to a "point-of-sale" model that allows customers to pay a net price for drugs, including discounts, at the time of purchase [4][7] - This new model aims to eliminate post-sale rebates, thereby reducing Cigna's exposure to regulatory changes and addressing criticisms of PBMs [5][7] Financial Implications - Analysts view the transition as a strategic move that should not negatively impact Cigna's long-term earnings, as the company already passes through over 95% of rebate dollars to clients [5][6] - Retained rebates account for less than 10% of Evernorth's total adjusted pre-tax earnings, suggesting that the shift to the new model will have a minimal effect on the bottom line [6] - Cigna may need to invest in the short term to facilitate this transition, but the long-term financial outlook remains stable [6]