BY JESSE LANE
Friday foretold the dawning of the largest health insurer in the United States, as Anthem Inc. announced that it would buy Cigna Corp. for a whopping $54.2 billion. This does, however, create concern over a consolidation of power, as it marks the largest buy in health industry history.
Before this historic deal, there were four major insurers administering self-insured plans to major companies, reports Fox Business. There is Anthem, Cigna, UnitedHealth Group Inc and Aetna. Just three weeks back, Aetna purchased Humana Inc for $37 billion.
UnitedHealth was the largest insurer with 45.86 million members, however, this merger establishes total membership at 53 million between the combined companies — with $115 billion in annual revenue to boot.
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