The Cigna Group Foundation, the philanthropic arm of The Cigna Group (NYSE: CI), announced today a new grant program that will commit $9 million over three years to help improve the mental health and well-being of military veterans, with a first-year focus on housing stability among this specific population.
Compared to the general population, military veterans face an increased risk of homelessness, with an estimated 40,000 veterans who go without shelter on any given night. According to the U.S. Department of Housing and Urban Development (HUD), the number of veterans experiencing homelessness increased by 7% between 2022 and 2023.
"The Cigna Group Foundation has a longstanding commitment to the health and vitality of our nation's military veterans and their families," said Melissa Skottegaard, board chair of The Cigna Group Foundation. "Too many veterans struggle with the invisible wounds of war, including brain injuries and post-traumatic stress disorder, both of which correlate to experiencing homelessness. By providing stable housing, one of the key social determinants of health, we can help provide much-needed security and help reduce mental distress disorders among our veteran population. We look forward to collaborating with and supporting nonprofit organizations that are making a difference for those who have served our country."
CI shares began Monday down $5.96, or 1.8%, to $330.17.
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