The State Corporation Commission’s Bureau of Insurance last week released a long-awaited analysis of the proposed merger between insurers Anthem and Cigna, finding that Anthem’s intended $54 billion acquisition is not in Virginians’ best interests.
The analysis, released Wednesday, is meant to provide more information to Virginia’s SCC as it considers approving or blocking Anthem’s attempted acquisition.
“The Bureau has determined that the merger will impact competition at both a state and local level in the market for large group comprehensive medical insurance,” the report states. “Despite general claims of benefits and mitigating factors, the Bureau further has determined that this impact raises the potential of harm to policyholders as well as the general public.”
