New Insurance Commissioner grants approval for Aetna’s acquisition of Humana
Kentucky’s new Insurance Commissioner, H. Brian Maynard, has approved of a controversial acquisition plan from Aetna. The insurance provider has plans to acquire Humana in a deal that has caused concern among consumers and some government officials. The deal is valued at approximately $37 billion and some fear that it could have a dramatic impact on the health insurance market. Commissioner Maynard’s decision to approve the deal has been met with some criticism.
Economists have yet to report on the potential impact on controversial deal
Economists that have been tasked with analyzing the impact that the deal between Aetna and Humana have yet to submit their final report on the matter. Only one of these economists has discussed their findings with the Kentucky Department of Insurance. Commissioner Maynard also approved the deal without first holding a public hearing, which had been planned some time ago. The hearing was meant to gather information from consumers and consumer advocacy groups concerning the issue.
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Many people worry that the deal will have dire consequences for consumers
Aetna intends to acquire Humana in order to establish a better foothold in the health insurance market. The deal has caused significant concern among advocacy groups, who believe that it may have a major impact on the cost and availability of insurance coverage. Some suggest that there is a potential threat that many people could lose their insurance policies as the result of the deal, being forced to purchase more expensive coverage in the future.
Department of Insurance suggests that it has reviewed the deal thoroughly
According to Commissioner Maynard, the Department of Insurance has conducted a thorough review of the deal between Aetna and Humana. Maynard suggests that the review found that the deal would have no adverse impact on consumers. Instead, the deal may result in some benefits for Kentucky’s health insurance market. Despite this, however, consumers and advocacy groups are still concerned about the potential impact of the deal and what may end up happening in the coming years.