AHIP fires back at Hillary Clinton, says insurance consolidation not a real problem
America’s Health Insurance Plans says rising drug prices are a much more pressing issue.
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America's Health Insurance Plans on Wednesday called former Secretary of State Hillary Clinton's stance against major insurance company consolidation misguided, and suggested that the presidential candidate focus on other issues plaguing healthcare instead.
Clinton said she had "serious concerns" and was "very skeptical" that major insurance mergers would be good for consumers, according to published reports.
Aetna plans to acquire Humana for $37 billion, and Anthem has proposed buying Cigna for $54 billion.
[Also: Aetna and Humana shareholders approve $37 billion merger]
The mergers would cut the number of major health insurance companies down to three, with UnitedHealth Group among those.
Clinton said the deals should be closely reviewed by U.S. regulators.
It's up to the Department of Justice to determine if the mergers violate anti-trust regulations. If the mergers go ahead, Aetna would become the largest provider of Medicare Advantage plans.
[Also: Healthcare executives cite rising drug prices as top issue]
In separate meetings Tuesday, Aetna and Humana shareholders ratified the acquisition.
Clinton said she was worried that consolidation in healthcare among both providers and payers was moving the balance of power away from consumers.
But AHIP countered that on Wednesday. "Contrary to the political claims, the reality is that health plans are operating in one of the most competitive and highly regulated environments in the country with every premium dollar accounted for under the medical loss ratio and an arbitrary cap on profits," the group wrote in a released statement.
"If the goal is to make healthcare more affordable and to provide greater choices for consumers, then policymakers should focus on addressing the real cost challenges facing patients - the soaring prices of prescription drugs and medical services - that drive up the cost of coverage and out-of-pocket costs for millions across the country."
Twitter: @SusanJMorse
