I’m very pleased with the U.S. Department of Justice action today to block these mergers because they are anti-competitive and would harm consumers and businesses. As insurance commissioner of the largest insurance market in the country, I urged the DOJ to prevent both of these health insurance mergers, which if approved would have resulted in a highly concentrated, less competitive health insurance market doing irreparable harm to consumers and businesses.
California Department of Managed Health Care (DMHC) Director Shelley Rouillard has approved Aetna’s acquisition of Humana.
The Department of Managed Health Care (DMHC) invites you to a public meeting on the acquisition of Humana by Aetna. Representatives from both plans will be present. The meeting will be held in Sacramento on January 4, 2016 from 1:30 p.m. to 3:30 p.m. The purpose of the meeting is to discuss DMHC’s jurisdiction and authority to oversee the transaction and to solicit public comment for DMHC’s consideration as it reviews the transaction. Public comments will be limited to 3 minutes. Comments may also be submitted in writing to [email protected] until 5 p.m. on Monday, January 11, 2016.
Insurance Commissioner Dave Jones announced today that Department of Insurance actuaries found Aetna Life Insurance Company’s most recent small group health insurance rate increase excessive and unreasonable. Aetna is increasing rates for small businesses and their employees by an annual average of 27.4 percent.
We’re very pleased with Aetna’s results. This year we will pay out $15 million for the 2014 experience year. This total is significantly lower than last year and is a clear indication that we met our goal—to price our business so that we deliver the greatest value to our customers, remain competitive in the market and grow our business.