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| | Federal Court Blocks Anthem-Cigna Health Insurer Merger Citing Anti-Trust
By Lonce LaMon - February 8, 2017
On Wednesday, February 8th 2017, a federal court blocked the merger of Anthem and Cigna health insurers.
California Insurance Commissioner Dave Jones issued the following statement on Wednesday following the federal court decision blocking the proposed Anthem-Cigna merger:
"Today's federal court decision to block the merger of two of the nation's largest health insurers is a significant win for consumers who need more choice, not less, in an already highly concentrated health insurance market. Bigger was definitely not better when it comes to the Anthem-Cigna merger.
Last year I held an extensive public hearing on the proposed merger. After reviewing all the evidence, I concluded the Anthem-Cigna merger was bad for consumers and businesses, and bad for health insurance and health care markets. I issued detailed findings of fact and law and urged the U.S. Department of Justice to sue to block this merger because it is anti-competitive and would harm California consumers, businesses, and the California health insurance market.
Allowing a merger between two of the largest health insurers in the country would have increased the price of health insurance, and decreased choice and the quality of healthcare for consumers and businesses. I am very pleased the federal district court entered a decision consistent with my findings and legal conclusions that the Anthem-Cigna merger is anti-competitive.
Competition helps restrain prices, provides choice, and improves quality. The Anthem-Cigna merger would have reduced competition in a market already dominated by just a few health insurers."
lonce@adjustercom.com; in conjunction with the News Release of the California Department of Insurance dated February 8th 2017
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