US acts to block two mega-mergers in health insurance
The US moved Thursday to prevent huge mergers involving four of the top five health insurers, hoping to stall industry consolidation and protect the gains of President Barack Obama's sweeping healthcare reforms. The Department of Justice sued in the Washington, DC federal district court to block Aetna Inc's $37 billion takeover of Humana Inc., and Anthem Inc's $54 billion merger with Cigna Corp. "For most Americans, health insurance is not a luxury, but a necessity," said Attorney General Loretta Lych, announcing the antitrust lawsuits.