The Missouri Department of Insurance ruled in an order issued Tuesday that a proposed $37 billion merger between health insurance companies Aetna and Humana was anticompetitive.
In a letter posted on the state’s Department of Insurance website Tuesday, Director John Huff has ordered the companies to stop selling four types of insurance plans in the state if it goes through, including Medicare Advantage. The order also gave the companies 30 days to submit a plan to “remedy the anticompetitive impact of the merger,” or they would not be allowed to operate in Missouri counties where the market was found lacking.
Missouri is the first state to signal disapproval of the pending merger, which would combine two of the largest health insurers in the country. An state analysis determined the combined company would control too much of the market for the four types of health plans.
The acquisition of Louisville-based Humana by Connecticut’s Aetna was announced last July 3.