DOJ suing to block health insurer mergers

[Geee]

The Hill:

The Obama administration on Thursday morning will announce a pair of lawsuits against two high-profile health insurer mergers, a spokesperson for the Department of Justice (DOJ) confirmed to The Hill.

 

In a landmark antitrust move, the Justice Department is suing to block mergers by healthcare giants Anthem Inc. and Cigna Corp. that would reduce the nation's five biggest insurers into just three.

 

Attorney General Loretta Lynch will make the announcement at a press briefing at 11 a.m. Thursday, according to a department spokesman, who said he could not confirm the specific companies.

 

One lawsuit – to block Anthem’s $48 billion takeover of Cigna – has already been filed, according to Bloomberg, which first reported the news.