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Medical Society Seeks to Block Health Insurance Merger The Medical Society of New Jersey has filed a lawsuit to block the merger of Oxford Health Plans and UnitedHealthcare Inc., claiming it would create a health care monopoly that would not benefit patients. Banking and Insurance Commissioner Holly Bakke approved the $3.7 billion merger, which would create the third-largest health insurer in New Jersey, on July 29. A total of 440,620 policyholders are covered by the two companies, according to the state. "Where there is little competition, there is little incentive for these companies to do what is right for their insureds," said Michael Kornett, executive director and CEO of the medical society, a lobbying group that represents physicians. Bakke said the decision to approve the merger come after a thorough review. Insurance regulators said combining the companies would bring increased efficiencies that could result in lower costs. The merger of the health care companies has also been approved by California, Connecticut and New York. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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