California Insurance Commissioner Seeks to Stop CVS Merger with Aetna

California Insurance Commissioner want to stop merger - Stop Sign

The state’s stop insurance official has asked the Department of Justice to block the merger. California Insurance Commissioner Dave Jones is urging the U.S. Justice Department to stop CVS Health from merging with Aetna. Such a merger would “have significant anti-competitive impacts on American consumers and health care and health insurance markets,” said Jones. The Californian regulator cannot stop the deal, but he can use his sway with the D.O.J. Even though the California Insurance Commissioner does not have the authority to stop a merger between the companies by way…

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Insurance company merger between Aetna and Humana will not go forward

Health Insurance company merger Aetna

A federal judge has now ruled in favor of prohibiting the two health insurers from merging. The Justice Department’s decision to stop the insurance company merger between Aetna and Humana has been upheld by a federal judge. These two health insurance giants were appealing the decision with U.S. District Judge John. D. Bates. The original decision to block the merger between the health insurance companies occurred in July 2015. That said, Judge Bates concluded in a 158-page opinion that “The Court is unpersuaded that the efficiencies generated by the merger…

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Terrorist’s life insurance policy can be seized by US government

US life insurance policy payout ruling

A federal judge has ruled that the payments on the policy of the San Bernardino killer can be taken by the government. A federal judge ruling says the U.S. government can seize the life insurance policy of Syed Rizwan Farook. Farook was one of the extremist terrorists involved in the murders in San Bernardino last year. The murderer purchased life insurance coverage near the time he was planning the terrorist attacks. He and a friend, Enrique Marquez – an extremist Muslim convert – planned terrorist attacks together. He started with…

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Aetna leaves prominent health insurance trade group

online health insurance technology exchange

Aetna will no longer be part of America’s Health Insurance Plan Aetna, one of the largest insurers in the United States, has left the health insurance industry’s largest trade group. This has raised concerns among critics of the Affordable Care Act, who claim that as more insurers leave the trade group, the federal law may be in jeopardy. Aetna is the second large insurer to leave the America’s Health Insurance Plans group, which was a major supporter of the Affordable Care Act as it was being drafted. Trade group is…

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School uses web-cast technology to help students enter the insurance industry

cyber insurance industry

Web-cast technology will be used to help students learn about the insurance industry and prepare them for licensing exams The Cyber Insurance School, an organization that offers educational resources concerning the insurance sector, has begun using web-cast technology to offer real-time resources to students and insurance professionals. Using this technology could be a boon for those interested in various types of insurance coverage. Using these resources, individuals could become more prepared for taking licensing exams, which will allow them to serve as insurance industry representatives. Cyber Insurance School continues to…

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Healthcare fraud in the United States reaches record levels

Health insurance fraud and abuse

Also breaking records is the amount that has been recovered, which has totaled $4.2 billion. The Department of Justice and the Department of Health and Human Services have announced that they have broken previous records in healthcare fraud recovery in their joint efforts to address the issue last year. This brought back $4.2 billion that would otherwise have scammed the systems and caused prices to rise. Attorney General Eric Holder and Secretary of Health and Human Services (HHS) Kathleen Sebelius jointly issued a report that demonstrated that for every dollar…

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