Cigna 2008 Annual Report Download - page 47
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27
Anti-Money Laundering Regulations
Certain CIGNA subsidiaries are subject to United States Department of the Treasury anti-money laundering regulations. Those
subsidiaries have implemented anti-money laundering policies designed to insure their affected products comply with the regulations.
Investment-Related Regulations
Depending upon their nature, CIGNA’s investment management activities are subject to U.S. federal securities laws, ERISA, and
other federal and state laws governing investment related activities. In many cases, the investment management activities and
investments of individual insurance companies are subject to regulation by multiple jurisdictions.
Regulatory Developments
The business of administering and insuring employee benefit programs, particularly health care programs, is heavily regulated by
federal and state laws and administrative agencies, such as state departments of insurance and the federal Departments of Labor and
Justice, as well as the courts. In the growing area of consumer-driven plans, health savings accounts and health reimbursement
accounts are also regulated by the United States Department of the Treasury and the Internal Revenue Service. For information on
Regulatory and Industry Developments, see page 67 in the MD&A and Note 22 to CIGNA’s Consolidated Financial Statements
beginning on page 133 of this Form 10-K.
Federal and state regulation and legislation may affect CIGNA’s operations in a variety of ways. In addition to proposals
discussed above related to increased regulation of the health care industry, other proposed measures that may significantly affect
CIGNA’s operations include calls for universal health care coverage and for government sponsored single payor, market reforms
achieved through state and federal legislation, modifications of the Medicare program, and employee benefit regulation including
modification to the tax treatment of employee benefits.
The economic and competitive effects of the legislative and regulatory proposals discussed above on CIGNA’s business
operations will depend upon the final form of any such legislation or regulation.