Aetna meets with DOJ over acquisition of Humana

Hartford, Conn.-based Aetna executives spoke with the U.S. Department of Justice Friday to assuage antitrust regulators who could oppose its pending acquisition of Louisville, Ky.-based Humana, an insider told Reuters.

Last week the DOJ reportedly voiced concern about the deal prior to the meeting. Aetna's acquisition of Humana could combine two of the biggest providers of Medicare Advantage plans, Humana with 3.2 million plans and Aetna with 1.3 million. If approved, the combined insurer would secure a Medicare Advantage market share greater than 35 percent in some geographical areas.

Aetna announced the auction of its Medicare Advantage assets — valued around $1 billion — last week. The insurer said the sale would solve potential competition issues triggered by the Humana deal. Major insurers are already interested in the assets, an insider told Reuters

The department is also reviewing Indianapolis-based Anthem's $54 billion acquisition of Bloomfield, Conn.-based Cigna. If both deals close, the number of major national health insurers would decrease from five to three, Reuters reported.

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