WellCare Health Plans and Centene secured all regulatory requirements needed to merge, the organizations said Jan. 23.
Three things to know:
1. WellCare and Centene expect the transaction and its related divestitures in Missouri, Nebraska and Illinois to close on or about Jan. 23.
2. The roughly $17 billion deal is a major consolidation in the health insurance industry. Nationwide, it will bring 22 million managed Medicaid, Medicare and ACA marketplace members under one company.
3. To alleviate antitrust concerns, WellCare is selling its Medicaid business in Missouri and Nebraska to Anthem. Centene is selling its Medicaid and Medicare Advantage plans in Illinois to CVS Health for the same reason.