California State Insurance Commissioner Dave Jones made his skepticism clear regarding Anthem’s proposed $54.2 billion acquisition of Cigna during a hearing on Tuesday, according to California Healthline.
Here are five takeaways:
1. Company executives faced Mr. Jones and a panel pf physicians and consumer advocates who questioned the benefits the companies say the acquisition will bring.
2. According to Anthem and Cigna, the merger will result in easier access to medical providers for patients and lead to more affordable health insurance policies.
3. Jay Wagner, Anthem’s vice president and counsel, and Tom Richards, Cigna’s global leader for strategy and business development, said the purchase would cut costs by $2 billion annually.
4. Anthem is one of the nation’s leading health benefits companies.
5. Cigna is a global health insurance service company.