In Sickness and Health – Merging Insurance Companies

Concerned about all the merging insurance companies? Wondering if your coverage will change now that another company bought your health insurance provider? 

The health insurance marketplace can seem like an uncharted frontier lately. With new health insurance laws always at the forefront of legislative discussion and action, there’s a lot in flux right now, and one thing that everyone can benefit from being in the loop about is the mergers that are occurring as the health insurance field shifts and stirs.

Take Aetna’s purchase of Humana, for example; it’s a 37 billion dollar deal, and the largest in insurance history. A purchase of this size and scope will inevitably impact consumers, and certainly faces antitrust issues. That said, it’s not necessarily a bad thing for you and your family. Mergers have some different effects as they concern consumers, but depending on your situation, they might actually be a boon instead of a setback.

A bigger market share for one insurer will tend to mean fewer policy options. Antitrust procedures reduce the likelihood that one big bad insurer could exploit this, but in general, it means that there is less competition, and that usually tips the scales against the little guy. Don’t despair, however – the silver lining is that these acquisitions mean that the number of doctors that are considered “in network” increases substantially. So you may actually have an increased likelihood of having access to the care you need.

The process of merging insurance companies is huge and complex. If your carrier is merging and you’ve got questions about how it could affect your coverage, don’t hesitate to give Kirk a call or stop by the office and chat – health care may be a hot button issue in the political realm, but at Client First, there are no politics. It’s just you, the best possible coverage at the most comfortable price point, and whatever it takes to make a connection between the two.

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