Exclusive: State attorneys general joining probe of health insurer mergers
Source: Reuters
Mon Jan 11, 2016 9:26pm EST
Exclusive: State attorneys general joining probe of health insurer mergers
WASHINGTON | By Diane Bartz
About 15 state attorneys general have joined the Justice Department's probe of two big insurance mergers, according to people familiar with the matter, increasing the scrutiny on proposed deals that would reduce the number of nationwide health insurers to three from five.
The formation of a large group to scrutinize Aetna Inc's plan to buy Humana Inc and Anthem Inc's bid for Cigna Corp complicate what is already expected to be a tough and lengthy review by federal antitrust enforcers.
Connecticut, Florida, Iowa, Massachusetts and Tennessee are among the states that have joined forces to investigate the proposed deals, according to sources close to the states, who spoke to Reuters over recent days. Antitrust probes are designed to determine if a merger would lead to higher prices or otherwise hurt consumers.
The other states participating in the roughly 15-member group could not be learned. The sources asked not to be named because the investigation is not public.
Read more: http://www.reuters.com/article/us-insurance-usa-antitrust-idUSKCN0UP2JL20160112?rpc=401
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