Cigna CEO Says Anthem Takeover Will Increase Choice, Affordability
But worries persist from others that the $47 billion deal will hurt competition. Elsewhere, a GM official says there are no plans for the company to sell its health care business, and Target will give its employees Fitbits to help track health.
Reuters:
Cigna CEO Defends Anthem Deal, Says Consumers Will Have Choice
Health insurer Anthem's planned $47 billion takeover of rival Cigna will not hurt consumers but increase choice and affordability, Cigna CEO David Cordani said, defending the merger against widespread criticism that it will harm competition. The Anthem-Cigna deal and a plan by Aetna Inc to buy Humana have come in the wake of the implementation of the Affordable Care Act and amid pressure on insurers to keep healthcare spending down for their biggest customers - employers and the U.S. government. (Humer, 9/16)
Reuters:
GE Exec Says No Intent To Split Off Health Care Business
General Electric Co has no intent to split off any significant parts of its healthcare business, GE's head of the unit said on Wednesday, and that "all aspects" of the $18 billion division are part of the company's portfolio. Some analysts and investors over time have raised questions about how smoothly GE's healthcare business fits with the rest of the industrial conglomerate and whether some parts could generate more value if divested. (Krauskopf, 9/16)
Bloomberg:
Target To Offer Health Tracking Fitbits To 335,000 Employees
Retail giant Target will offer activity trackers from Fitbit to its 335,000 U.S. employees, becoming the latest firm looking to the inexpensive wearable devices as a way to improve its workers' fitness and reduce health-care costs. The deal is one of Fitbit's largest corporate accounts yet. While corporate services generate less than 10 percent of Fitbit's revenue, it's "one of the fastest-growing parts of the business," Chief Executive Officer James Park said in an interview. Fitbit offers employers a dashboard where they can see an employee's activity data, such as steps taken in a day. It also helps companies organize competitions and incentives to get workers moving. (Chen and Pettypiece, 9/16)
The Associated Press:
Target, Developing Healthier Habits, Hands Workers Fitbits
Target is going on a health kick, aimed at both customers and its employees. The discount-store chain will push granola bars and healthy grab-and-go snacks over candy at the checkout and hand out free basic activity trackers from Fitbit Inc. to its more 300,000 employees as part of the effort. Target will also give employees extra discounts on fruits and vegetables, said Jodee Kozlak, chief human resources officer. (9/16)
And, a new health coverage option for federal employees offers a mixed bag for workers on how much it costs -
The Washington Post:
New Federal Employee Health Insurance Option Will Mean Savings For Some, Higher Costs For Others
Family coverage premiums in the health insurance program for federal employees and retirees will increase by 7 percent on average for 2016 because of the introduction of a new option covering only the enrollee and one family member. Meanwhile, current family plan enrollees who switch to that new option, called self plus one, will save 6 percent on average compared with current rates, the government projects. (Yoder, 9/16)
