- Aetna and Humana edged closer to consummating their $37 billion merger deal, with this week’s approval by the Illinois Department of Health, the St. Louis Business Journal reported.
- ID acting Director Melissa Dowd greenlit the transaction after concluding it wouldn’t hurt competition in the state.
- Last Friday, Aetna and Humana filed forms with the SEC to extend the deadline to complete the merger from June 30 to Dec. 31.
An order posted on the department’s website says the merger won’t reduce the number of insurers offering Medicare Advantage in Illinois and that people with Medicare Advantage plans have the option of reverting to traditional Medicare if they aren’t satisfied with their coverage in the future.
In May, the Missouri Department of Health approved the merger, conditional upon Aetna and Humana getting out of the individual and small group insurance and Medicare Advantage markets.
Along with California’s approval last week, only three of 20 states required to assess the deal still need to weigh in. The two mega-insurers announced plans merge in July 2015, with Aetna offering cash and stock valued at $230 per Humana share.