NEW YORK (Reuters)—U.S. antitrust officials on Thursday moved to block an unprecedented consolidation of the national health insurance market, filing suit against Anthem Inc.’s proposed purchase of Cigna Corp. and Aetna Inc.’s planned acquisition of Humana Inc. The U.S. Department of Justice (DOJ) says the two mergers would reduce competition, raise prices for consumers and…
UnitedHealth Sees Further Losses for Obamacare Insurance
(Reuters)—UnitedHealth Group Inc. on Tuesday said it anticipated another $200 million more in losses this year on the individual insurance business created under U.S. President Barack Obama’s national healthcare reform law, citing the program’s high medical costs. The largest U.S. health insurer says the problem was confined to this one business line, which it plans…
U.S. Antitrust Officials Poised to Block Anthem, Aetna Deals
NEW YORK (Reuters)—U.S. antitrust officials are poised to file lawsuits to block Anthem Inc’s acquisition of Cigna Corp., as well as Aetna Inc.’s takeover of Humana Inc., a person familiar with the matter tells Reuters. Antitrust regulators have been scrutinizing the deals and looking at the potential for higher prices if the insurance market consolidates…
U.S. Justice Department Has Concerns about Aetna-Humana Deal
(Reuters)—The U.S. Department of Justice has significant concerns about Aetna Inc.’s proposed acquisition of health insurer Humana Inc., a source familiar with the situation said on Thursday, and shares of Humana fell more than 11%. Aetna’s purchase of Humana would combine two of the largest providers of Medicare Advantage plans for elderly people, and investors…
California Insurance Commissioner Urges U.S. to Block Anthem-Cigna Deal
(Reuters)—California’s insurance commissioner on Thursday urged the U.S. Department of Justice (DOJ) to block health insurer Anthem Inc.’s acquisition of Cigna Corp., saying he is concerned it will raise premiums in the state. Dave Jones, who as insurance commissioner in California does not have authority to approve the deal, says he believes his recommendation will…
Avoid the Trap of Balance Billing
It is no secret that payers and providers have conflict as it relates to reimbursement rates for medical services, and there is another stakeholder, the patient, that plays an important role in the financial impact of healthcare reimbursement. Usually, patients are faced with unforeseen bills from their providers due to an unpaid portion of a…
Not Junk Mail: Social Security Letter Can Cut Medicare Costs
CHICAGO (Reuters)—A letter arrives in the mail with this opening line: “We are writing to let you know how you can get help paying your Medicare costs.” Your fraud detector probably goes on high alert—the mailboxes of retirees routinely are stuffed with bogus come-ons. But this letter is no scam. More than 2 million seniors…
Doubts Mount over Merger of Health Insurers Anthem, Cigna
(Reuters)—Wall Street expressed growing doubts about a pending $54 billion merger of U.S. health insurers Anthem Inc. and Cigna Corp. on Monday as news of management squabbles added to concerns over its review by antitrust regulators. Cigna shares closed down 4% at $126.15, well below Anthem’s original $188 per share offer of cash and stock…
Anthem CEO Backs Obamacare Insurance Exchanges & Sees Possible Growth
(Reuters)—Health insurer Anthem Inc. on Wednesday said the Obamacare individual insurance exchanges are not as profitable as it originally expected, but it is not planning to exit like competitor UnitedHealth Group. Anthem Chief Executive Officer Joseph Swedish said the company had picked up more exchange customers than it expected during the first quarter and that…
Ryan Wants to End Obamacare Cost Protections for Sick Consumers
WASHINGTON (Reuters)—U.S. House of Representatives Speaker Paul Ryan (R-Wis.) called on Wednesday for an end to Obamacare‘s financial protections for people with serious medical conditions, saying these consumers should be placed in state high-risk pools. In election-year remarks that could shed light on an expected Republican healthcare alternative, Ryan said existing federal policy that prevents…
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