RICHMOND, Va. (AP) — Virginia’s Bureau of Insurance says a proposed merger between health insurance giants Anthem and Cigna would be bad for consumers.
The bureau issued recently issued its analysis ahead of a decision by the State Corporation Commission whether to approve Anthem’s $54 billion acquisition of Cigna.
The Richmond Times-Dispatch reports (http://goo.gl/PvjiAt ) that an Anthem spokesman said the company disagreed with the bureau’s findings but was willing to work with the state to alleviate any concerns.
The Department of Justice and several other states’ attorneys general, including Virginia’s, have sued to stop the proposed merger.
Anthem is Virginia’s largest health insurer, covering more than 22 percent of the state’s market.
Information from: Richmond Times-Dispatch, http://www.timesdispatch.com