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Feds detail case against huge insurance mergers

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U.S. Atty. Gen. Loretta Lynch has discussed in detail why the Feds are rejecting the huge insurance company mergers sought by Anthem and Aetna. Anthem wants to buy Cigna; Aetna wants to buy Humana.

“If allowed to proceed, these mergers would fundamentally reshape the health insurance industry They would leave much of the multitrillion-dollar health industry in the hands of three mammoth insurance companies, restricting competition in key markets,”  she said.

The government says the transactions would “substantially lessen competition in numerous markets around the country,” leading to  “higher prices and reduced benefits” for consumers.

Justice Department officials also worry that the deals would kill most competition in the Affordable Care Act’s insurance marketplaces.

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