The government argued that the proposed $54.2 billion deal would mean fewer choices in healthcare and lower quality of care. Anthem countered that insurance markets are unique and the merger would improve, not hinder, innovation and pricing.
Anthem and Cigna Corp. are about to get their chance to fight for their $53 billion merger in a District of Columbia courtroom. The faceoff with the U.S. Justice Department will pit their promised benefits for consumers against providers' bargaining power.
The first of the U.S. Justice Department's highly anticipated healthcare merger challenges is set to start next week in Washington, D.C.,as Anthem and Cigna Corp. defend their proposed merger.
Cigna's profit plummeted 16.9% in the third quarter of 2016 despite higher revenue and membership growth in its commercial employer business, the insurer said Thursday.
Anthem CEO Joseph Swedish called 2017 a "critical year" for the company's participation in the marketplaces, noting low membership growth in its individual ACA exchange business and higher than expected medical costs from members with chronic diseases.
Dale Maxwell will become interim CEO at Albuquerque-based Presbyterian Healthcare Services when current president and CEO James Hinton leaves to become chief executive at Dallas-based Baylor Scott & White Health in January 2017.
Cigna will drop a policy that required physicians to fill out extra paperwork before they could treat patients for opioid addiction.
Cigna Corp. will end a requirement that prevented providers from prescribing treatments for patients with opioid addiction without prior authorization.
Carolinas HealthCare System is fighting back against a lawsuit by the U.S. Justice Department that alleges the system imposed anti-competitive contract requirements on insurers, saying a federal appeals court has rejected the government's arguments.
The percentage of Humana Medicare Advantage members in plans with four stars or higher fell by half, from 78% a year ago to 37%. Cigna has only 20% of its members in plans rated four stars or higher. Meanwhile, 91% of Aetna's members are enrolled in four-star plans.
Herbert Fritch, the man who founded Cigna-HealthSpring and grew it into one of the largest Medicare Advantage plans in the country, is retiring.
Eric Schneiderman's office is investigating Mylan over “potentially anticompetitive terms” in its sales contracts with school systems in the state. Such terms were discovered in a preliminary review by the attorney general's office, according to a news release.