Aetna, Anthem Officials Defend Proposed Mergers
On Tuesday, Aetna CEO Mark Bertolini and Anthem CEO Joseph Swedish told the Senate Judiciary Committee's antitrust subcommittee that consumers would benefit from their companies' proposed mergers. In July, Anthem announced that it agreed to acquire Cigna for $48.4 billion, which would make it the nation's largest insurer in terms of enrollment. Also in July, Aetna announced it reached a $37 billion deal to purchase Humana, which could make Aetna the nation's second-largest insurer. During his testimony, Bertolini said the proposed Aetna-Humana merger "will enhance competition" by providing consumers with an alternative to many Blue Cross and Blue Shield plans in the U.S. Likewise, Swedish said that Anthem and Cigna have overlapping business in a small number of markets.
- "Health Insurers Seeking Mergers Play Down Antitrust Concerns" (Pear, New York Times, 9/22).
- "Senators Grill CEOs of Aetna, Anthem Over Competitive Effects of Deals" (Herman, Modern Healthcare, 9/22).