After a year and a half-long engagement, Aetna and Humana are finally breaking up. For Aetna, it's going to be expensive.
National Blue Cross and Blue Shield carrier Anthem plans to appeal last week's decision blocking its $54 billion deal to acquire rival insurer Cigna. But it's not at all clear that Cigna is on board. The companies may end up in court fighting each other over a substantial breakup fee.
Anthem said Thursday it will appeal a federal judge's decision blocking its controversial merger with rival insurer Cigna. But it's unclear if Cigna will sign on to that plan and it's likely the two former merger partners may end up in court fighting each other over the break-up fee.
Cigna's profit dropped 10.5% in the fourth quarter of 2016, despite building revenue from membership growth and higher premiums and fees.
Cigna jumped into unfamiliar and risky terrain in Illinois last year: It joined the Obamacare exchange after many insurers had tried, failed and fled.
While Medicare Advantage plans added nearly 900,000 members in 2016, enrollment is growing at a slower pace. Still, experts say the future of Medicare Advantage will be lucrative for insurers.
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.
Cigna will drop a policy that required physicians to fill out extra paperwork before they could treat patients for opioid addiction.