Crisco awaits hearing on proposed Cigna-Anthem merger

HARTFORD - State Sen. Joseph J. Crisco, Jr., D-Woodbridge, Senate Chairman of the legislature’s Insurance and Real Estate Committee, said today he is eagerly awaiting the state-mandated public hearing that must be held by the Connecticut Insurance Department regarding the proposed Anthem-Cigna merger.

State Sen. Joseph J. Crisco

Connecticut General Statutes Section 38a-132 requires the state Insurance Department to hold a public hearing within 30 days of receiving a comprehensive packet of information (called a ‘Form A’ application) from any entity seeking to purchase or control a Connecticut-based insurance company. 

Anthem, Inc. - headquartered in Indianapolis, Ind. - is seeking to acquire Cigna, headquartered in Bloomfield, therefore triggering the Form A application and the necessary public hearing.

Crisco was one of 19 signatories to a May 13, 2016 letter to Connecticut Insurance Department Commissioner Katherine Wade seeking a series of public hearings on the proposed merger, as well as granting intervenor status to consumer advocates and commissioning a study of the economic and health care impacts of the proposed merger.

Crisco noted that Florida, California, and Indiana have already held public hearings on the proposed Anthem-Cigna merger which, if successful, would create one of the largest health insurance companies in America.

“Connecticut consumers will be well served by having their voices heard regarding this proposed merger, and it doesn’t have to be limited to a single public hearing. We could have a series of public hearings across the state, much the same way the governor and other elected officials have sought to inform the public and elicit their input on a variety of important issues,” Crisco said. 
“We need to know what impact such a huge merger would have on health insurance premiums in Connecticut, on access, and on patient care. In my opinion, public hearings are as much a fundamental part of the merger review process as looking at issues like company balance sheets and plan enrollments.”

If the proposed Anthem-Cigna merger is ultimately approved by dozens of U.S. states, state attorney generals, the Federal Trade Commission and the U.S. Justice Department, the resulting company would control 64 percent of the health insurance market in Connecticut, allowing that single company greater control of provider networks, physician reimbursement rates, insurance premiums, and deductibles.


This is a press release from Crisco's office.