Report: Health insurer Cigna, which employs thousands in CT, in talks that could bring blockbuster merger [Hartford Courant]

Bloomfield-based health insurer Cigna, which employs thousands in Connecticut, mostly in the Hartford area, is in merger talks with rival Humana, the Wall Street Journal reported Wednesday, a combination that would challenge larger competitors in the integrated healthcare industry.

A merger of Cigna and Louisville-based Humana could place the combined company on more equal footing with larger competitors such as UnitedHealth Group and CVS Health Corp, the Journal reported.

Cigna could not be reached for immediate comment Wednesday.

It wasn’t clear what the impact on jobs in Connecticut would be if a deal was struck.

According to the Journal, Cigna would be able to combine its huge pharmacy-benefit business, which manages drug plans, and its strength in commercial insurance with Humana’s fast-growing Medicare segment.

Experts told the Journal that the merger could come under antitrust scrutiny.

Cigna had considered a merger with Humana in 2015, but Humana instead reached an agreement with Hartford-based Aetna. That merger fell apart when it was blocked on anti-trust grounds in the courts. Aetna was acquired by CVS Health in 2018.

Check back for updates.

Kenneth R. Gosselin can be reached at [email protected].

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