Mergers in the health insurance industry will not stifle competitiveness, the heads of Aetna and Anthem assured lawmakers on Tuesday at Senate hearings dealing with multibillion acquisitions sought by the two insurance giants.
Executives of Aetna, which is looking to buy Humana for $38 billion, and Anthem, which plans to acquire Cigna for $48 billion, told a Senate panel that their moves will benefit consumers.
The hearing camein the midst of a review by the Justice Department that seeks to determine whether the mergers could lead to monopolies in certain parts of the country. Congress does not have the authority to rule on mergers, but senators wanted to voice their opinions on the proposed acquisitions.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
