(WTNH) — The justice department is suing four major health insurance companies to try to block two proposed big mergers.
Attorney General Loretta Lynch announced the lawsuits today. The suit is in response to Anthem’s $54 billion proposal to buy Cigna and Aetna’s $37 billion takeover of Humana.
The mergers would leave most of the nation’s health insurance industry in the hands of just three Mammoth insurance companies.
Connecticut Senator Richard Blumenthal backs the lawsuit.
“These mega-mergers threaten to kill jobs and raise prices in Connecticut and across the country,” said Blumenthal.
Both Anthem and Aetna say they will fight the suits. Anthem said the DOJ’s response was an “unfortunate and misguided step backwards for access to affordable healthcare for America.