by KYW's Tony Romeo
A state Senate committee has come out in opposition to the proposed merger of Pennsylvania’s two largest health insurance providers.
The state Senate Banking and Insurance Committee, in a non-binding vote, is recommending against approval of the merger of Highmark and Independence Blue Cross.
Republican Dominic Pileggi of Delaware and Chester Counties is the senate majority leader:
“Well, I think there are some benefits that could flow from the merger, but there are also some very grave areas of concern that a large, statewide Blue franchise with a very large market share could have.”
Indeed, in a statement, the chairman of the committee cites concerns about a lack of competition in the aftermath of a merger. But the panel can only make a recommendation -- the final decision will be up to the state insurance commissioner.
The House Insurance Committee has not made a recommendation.
E-Mail Story
Print Story
