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Aetna, Anthem CEOs try to sell health insurance mergers to Senate
Sacramento Business Journal

The CEOs of Aetna and Anthem tried to sell the benefits of health insurance industry mergers to skeptical senators Tuesday.

The final decision on whether Aetna (NYSE: AET) will be allowed to merge with Humana (NYSE: HUM), and Anthem (NYSE: ANTM) to combine with Cigna (CI), is in the hands of the Department of Justice. But Tuesday’s Senate Judiciary Committee hearing was a chance for the CEOs of two of these companies to make their case on why their mergers will be good for consumers and won’t drive up premiums by reducing competition. If these mergers go through, there will be only three major health insurance carriers in the U.S.