Robert Reich
Now that insurers know the Affordable Care Act is here to stay, they’re merging like mad. Today Aetna announced it will spend $37 billion to buy rival Humana in a deal that will create the nation's second-largest health insurer. Yesterday, Centene announced a $6.3-billion deal to acquire Health Net. Blue Cross-Blue Shield carrier Anthem just made a $47-billion offer for giant insurer Cigna.
We’re rapidly on the way to having a handful of giant health insurers. The only difference between this outcome and a government-run single payer, such as Medicare for all, is that revenues will go into executive salaries, dividends, and advertising and marketing rather than into lower premiums and health care.
When will we learn?
Now that insurers know the Affordable Care Act is here to stay, they’re merging like mad. Today Aetna announced it will spend $37 billion to buy rival Humana in a deal that will create the nation's second-largest health insurer. Yesterday, Centene announced a $6.3-billion deal to acquire Health Net. Blue Cross-Blue Shield carrier Anthem just made a $47-billion offer for giant insurer Cigna.
We’re rapidly on the way to having a handful of giant health insurers. The only difference between this outcome and a government-run single payer, such as Medicare for all, is that revenues will go into executive salaries, dividends, and advertising and marketing rather than into lower premiums and health care.
When will we learn?
