Insider: WellCare, Centene bid for Aetna's $1B Medicare assets

Health insurers — including Tampa, Fla.-based WellCare Health Plans and St. Louis-based Centene — made offers on the Medicare Advantage assets Aetna will divest to help tilt regulatory approval of its $37 billion acquisition of Humana, an insider told Bloomberg.

WellCare and Centene separately bid for the Medicare Advantage policies, and other insurers are interested, according to the report. About 350,000 people are covered under the assets, which are valued at around $1 billion.

WellCare did not provide comment, and a Centene spokesperson told Bloomberg Centene does not respond to rumors. Centene also has a policy to not partake in auctions.

Hartford, Conn.-based Aetna presented its divesture to top Department of Justice officials Friday with hopes of persuading antitrust regulators its acquisition of Louisville, Ky.-based Humana would not stifle Medicare Advantage competition.

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