Cigna Corp.’s stock slid 3% in premarket trade Friday, after the insurer said the Centers for Medicare & Medicaid Services (CMS) was imposing sanctions to suspend the enrollment of new customers in Cigna Medicare Advantage and Standalone Prescription Drug Plan contracts. The sanctions follow the discovery by the CMS of deficiencies with Cigna’s appeals and grievances, formulary and benefit administration and compliance programs, Cigna disclosed in a regulatory filing. Cigna said it was cooperating fully with the CMS to resolve these matters. The stock has climbed 8.2% over the past three months through Thursday, while the S&P 500 has lost 8.9%.
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