The Illinois Department of Insurance approved Aetna's acquisition of Humana, which is valued at $37 billion, according to St. Louis Business Journal.
Here are four key points:
1. Specifically, Acting Director Melissa Dowling approved the payer merger, pending federal government approval.
2. The Illinois regulator claimed the merger will not limit the number of payers operating in Illinois that offer Medicare Advantage plans. Additionally, those who have MA coverage can shift to a traditional Medicare plan if they are not satisfied with their MA plan at a later date, the order states.
3. In May, a Missouri Department of Insurance order blocked the insurance companies from selling different insurance policies in Missouri if Aetna and Humana complete the merger.
4. Missouri Department of Insurance's order claimed the merger violated Missouri's competitive standards law in both the small group and individual marketplaces.
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