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Cigna says Obamacare customer costs were higher than expected

Thu Jul 31, 2014 9:22am EDT

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(Reuters) - Cigna Corp Chief Financial Officer Thomas McCarthy said on Thursday that medical claims were higher than expected from its new individual customers who signed up through the exchanges created by President Barack Obama's national healthcare reform law.

McCarthy, speaking during a conference call with investors, said the medical costs overall "continue to reflect the recent low medical utilization trend."

Insurers typically benefit from low medical use by its customers as they pay fewer claims.

(Reporting by Caroline Humer, Editing by Franklin Paul)

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