Anthem Inc. has used the Blue Cross and Blue Shield brand names as a powerful tool on its way to becoming the nation’s second-largest health insurer. But those Blue brands now are a hurdle for Anthem’s $54.2 billion acquisition of Cigna Corp.
Two Los Angeles doctors allegedly used fraudulent studies to persuade people to get Lap-Band surgery for weight loss and duped insurers into helping to pay the bills in what U.S. prosecutors called a $250 million scheme.
Anthem Inc. reported a fourth quarter decline in operating profit Wednesday morning, but the Indianapolis-based company said it expects President Donald Trump’s corporate tax cuts to increase its 2018 earnings.
The deal comes as the health sector is looking over the horizon at Amazon.com Inc., and how the company could transform the business of buying, distributing and selling drugs and medical products if it gets into health care.
Anthem said it has seen a drop in unnecessary ER visits in Kentucky since it started its review there and has rejected only around 1 percent of all claims as avoidable. The policy will expand to Indiana next year.