Tag: Aetna

Health insurance companies may combine as Aetna makes offer for Coventry

Insurance Industry News Deal

The American consolidation would be worth $5.6 billion if accepted. Health insurance company, Aetna Inc., has made a $5.6 billion offer to acquire its competitor, Coventry Health Care Inc., in order to boost its share of the most rapidly growing American government-backed Medicaid and Medicare programs. Aetna would gain over 5 million customers if this purchase is completed. This most recent announcement is made right on the heels of another major acquisition, when WellPoint Inc. purchased Amerigroup Corp. in a massive broadening of its Medicaid business. This type of consolidation…

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Aetna announces plans to purchase Coventry Health Care

S.Vagus
Health Insurance company merger Aetna

Aetna plans acquisition of Coventry Aetna, one of the largest health insurance companies in the U.S., has announced its plans to purchase Coventry Health Care. The acquisition is currently estimated to cost $5.7 billion and would increase Aetna’s presence in the health insurance market. The move is expected to improve the company’s standing in the changing landscape of government-funded health insurance. The acquisition is expected to take place months before millions of uninsured Americans become eligible for the Medicaid program, which could mean significant financial gains for Aetna. Acquisition may…

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.Insurance becomes popular target for insurers

Marc
Insurance technology and news

ICANN begins accepting applications for new domain names The Internet Corporation for Assigned Names and Numbers (ICANN), a non-profit organization t hat oversees the assignment of Internet identifiers, has expanded the availability of domain names for the sake of the financial services industry. Large companies will now be able to vie for the ownership of identifiers such as .bank and .insurance, as well as variants of these names such as .lifeinsurance and .insure. ICANN is now accepting applications for insurance companies who wish to make use of these new domain…

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Three large health insurers decide to uphold health care reform provisions despite fate of Affordable Care Act

S.Vagus
Florida Health Insurance

Insurers rally to support provisions of Affordable Care Act The future of health care reform currently resides in the hands of the Justices of the U.S. Supreme Court. The Court is expected to levy a judgment as to whether the Affordable Care Act is constitutional or not this month, which is expected to have a major impact on the state of the country’s health insurance industry and health care reform initiatives. Many consumers have expressed disdain for the law because of a provision concerning mandatory health insurance. The law holds…

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California insurance regulators clash with Aetna over insurance rate hikes

Marc

California health insurance industry go head to head with regulators Aetna Life Insurance has raised the health insurance rates for small employers in the state of California this month. The company has plans to raise rates by an average of 8% for this sector each year. The plan has struck a chord with the state’s insurance regulators, with Insurance Commissioner Dave Jones accusing the company of being unreasonable. According to the state’s Department of Insurance, Aetna’s health insurance rates for small businesses will jump by more than 30% over the…

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Consumer Watchdog proposes new ballot initiative to curb health insurance rate hikes

S.Vagus

California health insurance industry being eyeballed Consumer Watchdog, a non-profit advocacy group focused on the insurance industry, has proposed a new ballot initiative to the California Legislature that would put a stop on rising health insurance premiums. The organization claims that the state’s largest insurance companies have increased premiums by 20% since April 1, 2012. Consumer Watchdog suggests that these companies will raise rates a second time in May, and increase that will likely be 20% again. These higher rates have affected more than 1 million Californians, many of whom…

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Aetna makes a statement in the industry

Julie Campbell

At this year’s Health 2.0 event, Mark Bertolini, the CEO of Aetna, gave a very positive outlook for the future of health insurance in his company as a result of the current and upcoming changes to the healthcare system in the United States. The reason is that the insurer has reinvented itself by providing a unique healthtech startup company exit opportunity after having made more than $1.5 billion in acquisitions in 2011. Those acquired companies are playing an important role in assisting healthcare organizations to make their first steps into…

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