referring to Medicare Advantage plans are Medicare health plans offered by private insurers.
“Health plans have been and will continue to be acquisitive,” Mendelson said.
A U.S. federal judge blocked Aetna’s proposed $34 billion merger with rival Humana, saying it was illegal under antitrust law.
A federal judge has prohibited the merger of two health insurance giants, Aetna and Humana, upholding the Justice Department’s decision that the $37 billion deal would hurt competition and raise prices for consumers.
Mega-mergers like the proposed consolidation of Aetna and Humana raise prices, lower health care quality – and kill jobs,” Blumenthal said.
according to A federal judge on Monday blocked the merger of two of the largest health insurers in the country on antitrust grounds.
The ruling is a victory for consumer advocates who had opposed the merger as reducing competition and choices for consumers.
“The government alleged that the merger of Aetna and Humana would be likely to substantially lessen competition in markets for individual Medicare Advantage plans and health insurance sold on the public exchanges,” Bates wrote in his decision.
Judge John Bates of the U.S. District Court for the District of Columbia ruled that the merger of Aetna and Humana would unacceptably cut down competition in Medicare Advantage and in the ObamaCare marketplaces.
“We’re reviewing the opinion now and giving serious consideration to an appeal after putting forward a compelling case,” said Aetna spokesman TJ Crawford.
according to | AP Photo/Jessica Hill Judge blocks major health insurance mergerA federal judge has blocked Aetna’s merger with Humana after finding that the health insurers’ $37 billion deal would leave seniors with fewer and costlier options for private Medicare coverage.
The merger risked handing Aetna and Humana a near monopoly across the nation.
“The companies’ rebuttal arguments are unpersuasive,” Bates wrote.
Between Aetna and Humana, the companies serve 4.5 million of the nearly 17 million seniors enrolled in Medicare Advantage.
It’s unclear if President Donald Trump’s Justice Department will take a friendlier view of the merger.
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