Iowa Attorney General, Tom Miller, says Iowa has joined two joint federal-state antitrust lawsuits in an attempt to block mergers between four of the nation’s largest health insurance companies. On Thursday, July 21, Miller provided details on the lawsuit that alleges Aetna Inc.’s proposed acquisition of Humana, Inc. as well as Anthem, Inc.’s proposed acquisition of Cigna Corp. would increase concentration and harm competition in Iowa and across the country. Consolidation of these companies would reduce the number of large, national health insurers from five to three. The lawsuit claims these two mergers, valued at $37 billion and $54 billion respectively, would harm seniors, working families, individuals, employers, doctors and other healthcare providers by limiting price competition, reducing benefits, decreasing incentives to provide innovative wellness programs and lowering quality of care. Miller said the state joined the lawsuits over these concerns of reduced competition.
