Aetna CEO: 10,000 Humana employees to get raise to $16 per hour - WDRB 41 Louisville News

Aetna CEO: 10,000 Humana employees to get raise to $16 per hour

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LOUISVILLE, Ky. (WDRB) --  About 10,000 Humana employees will get a raise to at least $16 per hour if Aetna’s planned $37 billion takeover of the company comes to fruition next year, Aetna CEO Mark Bertolini said Tuesday in prepared remarks for the U.S. Senate Judiciary Committee.

Aetna, a health insurer based in Hartford, Connecticut, increased wages for all employees to at least $16 an hour in April, Bertolini said.

“As a result of this policy, we expect approximately 10,000 of Humana’s employees to get a raise to $16 per hour once we integrate the compensation structure of the two companies,” Bertolini said, according to the prepared remarks.

Humana has about 57,000 employees nationwide, including more than 12,000 in its headquarters city of Louisville.

While some employees will get a raise, it’s possible that others will lose their jobs as a result of the sale, as Aetna has promised investors $1.25 billion in annual “synergies” – or cost savings from combining the two companies. Aetna has said that Louisville will be the headquarters of its government insurance business and that the city will have just as many -- if not more -- jobs after the sale.

The sale is expected to close in the second half of 2016. Bertolini defended the deal during a Senate hearing that explored consolidation in the health insurance industry. 

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