Anthem remains committed to Wellpoint deal

Anthem Inc.'s (NYSE: HUM) top executive said Monday the company doesn't plan to halt in its stalled merger of Thousand Oaks, Calif.-based WellPoint Health Networks Inc., Reuters is reporting. Larry Glasscock, CEO of Anthem, said the company will keep all options open until the deal is completed. The $16.4 billion merger would create the nation's largest health insurance carrier. The combined company, called WellPoint Inc., would serve nearly 26 million medical members and operate as a Blue Cross or Blue Cross Blue Shield licensee in 13 states.

Both Anthem and WellPoint are among the largest competitors of Louisville-based Humana Inc. (NYSE: HUM). Humana provides benefits to about 5.8 million medical members located primarily in 15 states and Puerto Rico. Anthem has been in a legal battle with California Insurance Commissioner John Garamendi, who rejected Anthem's application to control California-based BC Life & Health Insurance Co., a subsidiary of WellPoint. Anthem has since sued Garamendi, according to various news reports, claiming he went beyond his authority is preventing the merger. Indianapolis-based Anthem offers health benefits in Kentucky through its subsidiary, Anthem Blue Cross and Blue Shield of Kentucky. The parent company provides health care benefits to more than 12.6 million people in nine states.