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 Insurance Commissioner Dave Jones today urged the U.S. Department of Justice to block the merger deal between Anthem, Inc., and Cigna Corporation. After an extensive review of the Anthem and Cigna merger, Commissioner Jones issued detailed findings that the merger of the second and fourth largest national health insurers is anti-competitive and will harm California consumers, businesses, and the California health insurance market.
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.
Commissioner Jones directed the California Department of Insurance to obtain federal Affordable Care Act grant funds to enhance transparency in healthcare pricing. Commissioner Jones then partnered with UCSF and Consumer Reports to create California Healthcare Compare (HealthcareCompare.insurance.ca.gov), a first step in achieving cost and quality transparency in California’s healthcare marketplace.