October 4, 2018
CSMS voiced opposition to the proposed CVS Aetna merger at a CT Insurance Department (CID) public hearing. We have submitted testimony (available here) that challenges the merger on anti-trust grounds. A special thank you the American Medical Association (AMA) for their tremendous amount of support and assistance throughout this process and for providing additional testimony at this hearing. We will keep you informed of further developments.
Department of Justice preliminary approved the merger of CVS and Aetna. CSMS and the AMA's oppositions were sited in a Think Advisor publication. Read the article here.
The Connecticut Insurance Department has approved CVS’s $69 billion merger with Hartford-based Aetna Inc., despite opposition from CSMS, the AMA, and many others.
The approval is contingent on Aetna completing the sale of its entire standalone Medicare Part D prescription plan business to a subsidiary of WellCare Health Plans, according to the insurance department’s decision issued on Wednesday. Click here to read the full CT Mirror article.