As one part of Anthem's proposed acquisition of Cigna, the Florida Office of Insurance Regulation has approved Anthem's request to purchase Cigna's Florida-based affiliates, according to the Insurance Journal.
The affiliates included in the deal are HealthSpring of Florida, Cigna Dental Health of Florida and Cigna Healthcare of Florida.
The Florida OIR held a public hearing on the topic last December, and after conducting an analysis, found the acquisition would not harm competition in the state of Florida.
"The economic analysis found that both companies, either individually or in combination, are not a dominant factor in the Florida market and would not [decrease] market competition on a statewide basis," the Florida OIR said in a consent order, according to the Miami Herald. "It also revealed that Anthem and Cigna compete only in the Medicare Advantage product market and 'the combined entity would have a nonmaterial impact on competition.'"
However, the OIR did express concerns regarding how "Anthem's license agreement with the Blue Cross Blue Shield Association would reduce competition in Florida," according to the Insurance Journal. If less than two-thirds of Anthem's business is branded as "BCBSA," Cigna's growth in Florida could be limited.