State agency to play key role in Anthem/Cigna merger
HARTFORD — Connecticut’s Department of Insurance is playing a major role in a deal that would create the nation’s largest health insurer.
Since Cigna is based in Bloomfield, the state insurance regulators are leading a 26-state review of Anthem Inc.’s proposed merger with Cigna.
The agency is tasked with coordinating the review by other states with legal Cigna entities, informing them about Connecticut’s evaluation of the massive merger, and hosting conference calls between the various state regulators.
The department will hold a public hearing on the merger sometime next year.
Currently, the U.S. Justice Department is reviewing Anthem’s planned $54.2 billion acquisition of Cigna.
Connecticut Sen. Richard Blumenthal wants federal authorities to review the Anthem/Cigna merger in conjunction with the proposed Aetna/Humana merger. He’s concerned about the effect on competition and consumers.