Speculation Over Anthem-Cigna Deal Mounts
But company officials say no talks are underway to end the proposed merger. In other insurance industry news, Blue Shield of California is facing new scrutiny about whether it adequately paid back policy holders for its excessive administrative spending in 2014. Meanwhile, in Ohio, nearly 22,000 people face a deadline to find a new health plan or face being uninsured for most of July.
Bloomberg:
Anthem Says Cigna Deal ‘Compelling,’ No Talks To End The Merger
Anthem Inc. said it’s not in discussions with Cigna Corp. to end their $48 billion tie-up, as speculation about the health-insurance deal’s fate mounts. (Tracer and Altstedter, 6/28)
Los Angeles Times:
Blue Shield Faces New Criticism Of Shortchanging Consumers In California
Blue Shield of California, already under scrutiny by state officials, is facing new criticism that it didn’t adequately pay back policy holders for excessively spending on administrative costs in 2014. Officials from the health insurer strongly rejected the allegation, made by a former company executive in a complaint to state regulators. But if substantiated by investigators, the accusation could force the insurer to pay additional rebates to customers. (Levey, 6/28)
The Columbus Dispatch:
InHealth Mutual Customers Near A Deadline To Find Insurance
Nearly 22,000 Ohioans — more than one-third of whom live in the Columbus area — have until Thursday to find a new health insurance plan or face being uninsured for most of July. The Ohio Department of Insurance took over InHealth Mutual, a subsidiary of Coordinated Health Mutual, in May. The health insurance cooperative based in Westerville was set up in 2014 to be a lower-cost option for Ohioans who shop the federally run health insurance marketplace. The state agency is liquidating the company because it ceased to meet the federal requirements for minimum essential coverage under the Affordable Care Act. (Steinbauer, 6/29)