Summary Box: California Insurance Regulator OKs Anthem Acquisition Of WellPoint By Associated Press - November 9, 2004
THE ISSUE: Indianapolis-based Anthem Inc. seeks to acquire WellPoint Health Networks Inc. But California's chief insurance regulator had rejected the deal, citing concerns the companies would shift executive compensation costs onto consumers.
THE STAKES: The proposed $16.4 billion deal would create the nation's largest health insurance company, covering some 28 million people in 13 states.
THE COMPROMISE: The companies agreed not to raise health care premiums for California customers to pay for the costs of the buyout. They also agreed to pay $265 million in cash and investments to help fund state health care improvements.
WHAT's NEXT: Anthem and WellPoint must still secure approval from other state regulators.
Adjuster / Examiner Claims Examiner Santa Ana Unified School District Santa Ana, CA
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