The combined health insurer will have six million health plan enrollees and $16 billion in annual revenues. The deal comes as publicly-traded investor-owned health insurers are already engaged in unprecedented consolidation with Aetna, the nation’s third largest health insurer, sold last year to drugstore giant CVS Health. Though there are investor-owned Blue Cross plans like Anthem, most Blue Cross branded companies remain private or mutual plans owned by policyholders. Blue Cross and Blue Shield of North Carolina is described as "fully taxed," according to information on the company's web site. Anthem, the nation's second-largest health insurer, operates Blue Cross and Blue Shield plans in 14 states and remains much larger than Cambia with nearly 40 million health plan enrollees.

Source: Forbes March 12, 2019 20:11 UTC