Insurers in the news: June 30 — July 7

The following insurers made headlines this week. They are listed below, beginning with the most recent.

40,000 to lose coverage after Conn. officials deem co-op unstable
The Connecticut Insurance Department placed health co-op HealthyCT under supervision due to financial instability, prohibiting the insurer from selling or renewing health plans and leaving 40,000 policyholders uninsured.

Illinois regulators move to protect Land of Lincoln policyholders
Due to financial duress, the Illinois Department of Insurance ordered Chicago-based Land of Lincoln Health to withhold $31.8 million in payments owed to the federal government under the risk adjustment program.

Aetna to auction $1B in assets
Aetna plans to auction a portfolio of its Medicare Advantage assets in hopes of relieving antitrust concerns over its pending merger with Humana. 

BCBS of Arizona to drop 44,000 members in 2017
Blue Cross Blue Shield of Arizona announced it will end coverage in 2017 for 44,000 members who purchased health plans through the Affordable Care Act marketplace.

Piedmont, UnitedHealthcare fail to reach contract agreement
Atlanta-based Piedmont Healthcare facilities are now out-of-network for UnitedHealthcare commercial policy holders.

Dissolution of Anthem-Cigna acquisition could catalyze deals for smaller health plans
If Anthem's $48 billion bid to acquire Cigna falls through, smaller health plans could become targets for Cigna, while Anthem may court assets sold by industry rivals like Aetna and Humana.

900 University of Louisville Physicians added to CareSource network
Dayton, Ohio-based nonprofit health insurer CareSource expanded its network to include University of Louisville (Ky.) physicians.

Aetna, Humana extend merger deadline
Aetna and Humana extended the deadline of their $37 billion merger agreement from June 30 to Dec. 31.

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