WellCare Health Plans, Centene Reportedly Offer To Buy Aetna Medicare Assets

(RTTNews) - Health insurers including WellCare Health Plans Inc. (WCG) and Centene Corp. (CNC) have offered to buy assets that Aetna Inc. (AET) may have to sell to gain regulatory approval for its proposed $37 billion takeover of Humana Inc. (HUM), according to reports citing people familiar with the matter.

WellCare and Centene have separately bid for Aetna's Medicare Advantage policies that are up for sale, covering about 350,000 people. Other health insurers are eyeing pieces of the business, the person said Saturday. Aetna covers about 1.3 million people in Medicare Advantage plans, while Humana covers 3.2 million. Aetna presented the divestiture plan on Friday at a meeting with Justice Department antitrust officials. The insurer is seeking to show that there's sufficient competition in the market for private health plans for the elderly to allow the Humana deal to go forward.