Connecticut Attorney General George Jepsen voiced concern about a $54 billion deal between Indianapolis-based Anthem and Bloomfield, Conn.-based Cigna in an interview with the Hartford Courant Thursday.
Mr. Jepsen said the merger may decrease the number of insurers available in the state, further raising the price of insurance for those who want to change or purchase coverage.
"Further concentration could lead to an unacceptable accumulation of market power, which arguably could lead to higher prices and negative effects on quality of care through reduced products, service and innovation," Mr. Jepsen told the Hartford Courant.
The Connecticut Attorney General's Office has been reviewing the details of the merger for the past year. It is expected to make a final decision in about two weeks on whether to legally challenge the merger in court, according to the report.
Attorney General Jepsen's comments mirror those expressed by Democrats on the U.S. Senate Judiciary Committee who called on the Department of Justice to block the merger late last month.
Mr. Jespen's review arrives in midst of a 30-day comment period initiated by the Connecticut Office of State Ethics as it considers a petition to investigate Insurance Commissioner Katharine Wade's possible conflict of interest in the merger. Ms. Wade previously lobbied for Cigna and has familial ties to Cigna employees.
In mid-June, Connecticut Gov. Dannel Malloy signed a bill to withhold all merger information from the public and rejected an open records request made by grassroots groups to oust Ms. Wade.
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