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Humana Doubles Down on Medicare Products

You may have heard the rumors that Humana has made the decision to exit the group commercial medical products business, and you might be wondering if this will negatively impact your Humana Medicare clients. On the contrary, while the rumors are true, the reason Humana has made this decision is because the company wants to focus more on its Medicare business.

Anthem to Re-Brand as Elevance Health

In a March 10 press release, Anthem announced that the company will be changing its name to Elevance Health, Inc. in an effort “to better reflect the company’s business and its bold purpose of improving the health of humanity.” The name change, which is subject to shareholder approval, “underscores the company’s commitment to elevating whole health and advancing health beyond healthcare.”

Blue Cross Blue Shield Settlement – What to Tell Your Clients

Over the last few days, you may have started to receive calls and emails from clients about the Blue Cross Blue Shield settlement notice that is being sent out, and while you should avoid giving legal advice to your clients about whether they should file a claim or not, it is a good idea to share some basic information with them about the settlement. Current and former Blue Cross Blue Shield clients are receiving notices about the settlement by mail, email, or both right now, and they have a lot of questions.

CVS Acquisition of Aetna is Complete

On January 5 of last year, we published an article about the proposed merger between CVS Health and Aetna. One year later, the acquisition of Aetna by CVS has been finalized and the two companies are now one.

CVS to Purchase Aetna

By now you’ve certainly heard the news: CVS has announced plans to purchase Aetna for a record $69 billion, the largest-ever merger in the health insurance industry. CVS currently has roughly 10,000 pharmacies, and, if approved, the deal would allow the pharmacy giant to offer health care services and prescriptions to Aetna’s 22 million members.

Humana Pulls Out of Insurance Marketplace

Humana’s been making a lot of news lately. On January 23, a federal judge blocked the proposed $37 billion merger between Humana and Aetna. On February 14, the companies announced that they wouldn’t appeal the ruling and that that they were walking away from the deal they’d been working on for the last year-and-a-half. Then, later that same day, Humana made news once again when it announced that it would not be participating in the Obamacare exchanges in 2018. While the company will presumably continue to offer plans outside the Marketplace, it won’t be selling individual health plans eligible for a government subsidy through the federal or state exchanges.

Big Insurers Call Off Mergers

In July of 2015, just weeks apart, four of the top five insurance companies in the nation announced that they would be merging with one of their big competitors: Aetna made an offer to acquire Humana for $37 billion and, in an even bigger deal, Anthem offered to purchase rival Cigna for $48 billion. Now, just a year-and-a-half later, following two adverse court decisions, both of those deals are dead.

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