Hartford, Conn.-based Aetna received one of the final state sign-offs for its $37 billion acquisition of Louisville, Ky.-based Humana Monday after New York's insurance regulator granted conditional approval, an insider told Bloomberg.
State regulators determined the deal would not curb health insurance market competition, though New York is mandating the insurers still offer private Medicare products and avoid cutting benefits. The New York Department of Financial Services outlined the conditions in a letter to Aetna Monday.
Aetna now has 90 percent of required state approvals, an Aetna spokesperson told Bloomberg. New York's conditional approval hinges on a sign-off from the U.S. Department of Justice.
Aetna met with top DOJ officials Friday to present the auction of its Medicare Advantage assets in hopes of pacifying antitrust concerns. The DOJ is currently reviewing the deal.