- California's insurance commissioner urges national antitrust regulators to block Aetna's (AET +0.7%) proposed $34B takeover of Humana (HUM -0.2%), saying a merger would reduce competition in already heavily concentrated commercial health insurance markets in California and across the U.S.
- The commissioner also cites the negative impact on millions of seniors nationally who rely on Medicare Advantage, saying an Aetna-Humana combination would have 26% of all Advantage enrollees in the U.S., more than any other insurer.
- The statement comes just days after California's Department of Managed Health Care - the only regulatory agency in the state with official oversight of the deal - said it had approved the deal with conditions, including that AET hold down premium increases and invest $50M in communities.