Insurance Giant's Proposed Merger Could Devastate Access to Health Care

October 9, 2020 0 By HearthstoneYarns

One of the largest health insurance giants in the country, Anthem, on Saturday proposed a $47 billion merger with its competitor Cigna, part of an industry-wide merger bonanza that analysts warn could have a devastating impact on health care cost and access nationwide.

The public proposal comes as the top five U.S. insurance companies—UnitedHealth Group Inc., Anthem Inc., Aetna Inc., Cigna Corp. and Humana Inc.—race to consolidate in what Bloomberg recently called a “five-way dating drama” and the Wall Street Journal referred to as an “oligopoly wave.”

In a letter to the the Federal Trade Commission earlier this month, the American Association of Family Physicians expressed deep concerns “about the potential merger of any of the nation’s largest health insurance companies and the impact such actions would have on access and affordability of health care for consumers across the nation.”

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