I'm sure no one cares, except those of you like me, who surround your life with insurance, but... this is GREAT news for all of you who choose not to care about what's going on in the world of insurance (until it actually affects you). Trust me, this is a good thing.
Independence Blue Cross-Highmark merger off
By Jane M. Von Bergen INQUIRER STAFF WRITER

Pennsylvania's two largest health insurers today called off their proposed merger - saying that they were not willing to give up using either the popular "Blue Cross" or "Blue Shield" trademarks, as would have been required by the state.Pennsylvania's Insurance Department was reluctant to approve the merger of Independence Blue Cross and Highmark Inc., saying it would curtail insurance competition in the state. Highmark, of Pittsburgh, is a Blue Cross and Blue Shield company; Philadelphia's Independence Blue Cross carries the Blue Cross trademark. If the combined company had agreed to give up one of the popular "Blue" trademarks, it would have opened the door for another insurer to enter the Pennsylvania market and compete statewide, using the other "Blue" trademark."We have stated repeatedly that we would not give up one of our brands," the chief executives of Independence Blue Cross and Highmark Inc. said in a statement. "We spent more than 70 years developing our brands' value in our markets and they are an integral part of our corporate identities and reputation.The companies' decision to withdraw their application for a merger comes less than a week before the Pennsylvania Insurance commissioner, Joel Ario, was scheduled to announce his decision.The merger would have created the largest health insurance company in Pennsylvania and one of the largest in the nation."We welcome the applicants' decision to withdraw their proposed consolidation," Ario said in a statement issued today. "We were prepared to issue a disapproval order on Jan. 27, but this withdrawal smoothes the process and allows all parties to focus on the challenges we all face in addressing the larger health care crisis."Ario said he would discuss his reasons further at a news conference in Harrisburg tomorrow."I think he made the right decision," Gov. Rendell said of Ario."I think the merger was well-meaning by two great companies who are great corporate citizens, but I think it would have reduced competition in Pennsylvania," the governor said in an interview.In their statement, Independence chief executive Joseph A. Frick and Highmark chief executive Kenneth R. Melani said that, "in recent days, it became clear to us that despite the well-documented advantages of the consolidation for our customers and our communities, the Insurance Department would not approve the transaction because of its belief that there would be an adverse impact on competition. "We fundamentally disagree: We have shown that the combination would not lessen competition in our markets," the statement said. The U.S. Justice Department agreed with the Blues. It approved the deal twice, after evaluating the competitive effects of the transaction.As it is, Highmark does have the ability to compete statewide and does compete with Capital Blue Cross in central Pennsylvania and the Lehigh Valley. Highmark spokesman Michael Weinstein would not comment on whether Highmark would now try to compete with Independence Blue Cross in the Philadelphia area.