News Headlines Article

Big Insurance Deal Under Scrutiny in California
California Healthline

Last week, state regulators signed off on Centene’s $7 billion purchase of fellow health insurer Health Net.

But that’s a dinky deal compared to Anthem’s proposed $54 billion acquisition of Cigna, which Tuesday undergoes public review by the California Department of Insurance and its politically ambitious commissioner, Dave Jones.

Jones must approve the deal or reject it, along with the state’s other insurance regulator, the Department of Managed Health Care, which already has conducted its own hearings. The stakes are high. A rejection by California — given the state’s huge market — could jeopardize the acquisition altogether.