USA - Health Insurer CEOs Defend Big Mergers
Monday, 09 28 2015, Category: Insurance and Reinsurance, Country: United States
Leaders of two major health insurers planning multibillion dollar acquisitions made their case to Congress this week that bigger can mean better in their industry, but concerns are being raised in Washington about how these deals will affect consumers and competition.
Blue Cross-Blue Shield insurer Anthem plans to buy Cigna for $48 billion, and rival Aetna is looking to acquire Medicare Advantage coverage provider Humana for about $35 billion in a wave of consolidation that swept through the industry this summer. The deals came under scrutiny Tuesday at a Senate Judiciary subcommittee hearing.
Source: Insurance Journal