Anthem-Cigna deal: What you need to know

Anthem is buying rival Cigna in a $54-billion deal. (Michael Conroy / Associated Press)Anthem Inc., California's largest for-profit health insurer, has agreed to acquire rival Cigna Corp. for $54 billion.

The planned merger is the latest in a string of health insurance deals announced in the last few weeks. Aetna Inc. reached a $37-billion deal for Humana Inc. this month. And Woodland Hills insurer Health Net Inc. agreed to be acquired by Medicaid insurer Centene Corp. for $6.8 billion.

Here's what you need to know about consolidation in the healthcare industry:

What does the Anthem-Cigna deal do?

It would create the largest U.S. health insurer by enrollment. The combined company would generate…