In 2015, Lee and Klobuchar, the chairman and ranking member of the Senate Judiciary Subcommittee on Antitrust, Competition, Policy, and Consumer Rights held a hearing to examine the impact of consolidation in the health insurance industry on consumers
WASHINGTON, DC – Today, Senators Mike Lee (R-UT) and Amy Klobuchar (D-MN), the chairman and ranking member of the Senate Judiciary Subcommittee on Antitrust, Competition, Policy, and Consumer Rights, released the following statements on the federal court’s decision to block the proposed merger of Aetna Inc. and Humana Inc. on antitrust grounds. U.S. District Judge John D. Bates ruled that that the proposed merger was substantially likely to lessen competition and could have increased prices and diminished services for seniors who participate in private Medicare plans known as Medicare Advantage. In 2015, Lee and Klobuchar held a subcommittee hearing to examine the impact of consolidation in the health insurance industry on consumers.
“From the moment this merger was announced it was clear that there were some serious antitrust issues involved,” Lee said. “We will continue to monitor this case as it moves forward and provide the appropriate oversight to the Justice Department’s efforts."
“Stopping mergers that could raise healthcare costs for American seniors is critical,” Klobuchar said. “Senator Lee and I held a hearing to closely scrutinize the effects of the merger on consumers and costs. Aggressive defense of competition is the best medicine to control costs and improve quality.”