Anthem’s acquisition of Connecticut based Cigna Corporation is just the latest in recent Insurance Mergers and Acquisitions. This particular merger threatened many of the benefits its presence provides in Indiana. However, with its new headquarters set to be based in Indianapolis, the surrounding community looks forward to the positive impacts.
Anthem, the largest health insurer in the state, employs an estimated 5,000 people and provides ample financial contributions for Indiana. The healthcare giant pays about $5.1 million in corporate taxes per year and contributes an additional $3.5 million through its own foundation. Had Anthem decided to move its headquarters to Connecticut in light of its most recent merger, the state is said to have suffered immensely.
However, the largest company in the state does more than just contribute tax money. Although the acquisition will now boost Anthem’s employees to 89,000 and is estimated to earn an annual $115 billion, it also allows for the company to be more sustainable.
Michael Huber, Indy Chamber CEO, stated “It looks like the acquisition will allow Anthem to be more competitive. Having the largest health insurer in the world headquartered here in Indianapolis is a plus as well.”
The Indiana Business Journal also claims that their headquarters assists in Anthem’s commitment to the city by contributing to local groups such as the Central Indiana Corporate Partnership (CICP), a group of 55 executives from the state’s corporations and universities.
Further, Anthem’s philanthropic contributions are immensely helpful to Indiana. In 2014 alone, Anthem donated a combined $2.1 million in grants to promote maternal health, diabetes care, and heart health. What’s more, employee volunteer hours averaged 6,200 hours of community service, further contributing to the benefits of the local presence.
CEO of CICP David Johnson said “Indiana and Indianapolis have been centers of insurance activity for a long time; this really cements our role in that.”
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