Financial Services Industry
Industry: Email Alert RSS FeedA mixed bag: brokers try to sort out the possible effects of a proposed merger between Highmark and Independence in Pennsylvania.(Health/Employee Benefits: Highmark/Independence Merger)
Best's Review, July, 2007 by Chordas, Lori
The proposed merger of Highmark Inc. and Independence Blue Cross has brokers on both sides of the fence as they consider how combining Pennsylvania's two largest health plans would affect them and consumers.
Some brokers believe a union would result in administrative efficiencies and additional funding for the state's uninsured, while others fear it would spark decreased competition from having one dominant carrier in the Pennsylvania market.
On March 28, the boards of Pittsburgh-based Highmark and Philadelphia-headquartered Independence unanimously voted to merge, which would result in the biggest health insurer in the state and among the largest in the nation.
The merger would bring together 4.6 million Highmark policyholders and 3.4...
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