Friday
Feb052010
New Bill Would Strip Insurers Of Antitrust Exemption
Friday, February 5, 2010 at 1:13PM
By Monique Cala-University of New Mexico/ Talk Radio News Service
A bill that will strip antitrust exemption for health insurance companies was presented Friday by Representatives Tom Periello (D-Va.) and Betsy Markey (D-Colo.)
“The two page bill would end special treatment for the insurance industry that allows them to fix prices, collude with each other and set their own markets without fear of being investigated,” said a statement put out by Markey and Periello.
Due to the merging of 400 health care insurers, 95 percent of health insurance markets are ‘highly concentrated.' The new bill would force health insurers to compete, said Periello.
Dr.Tom Sullivan, a pediatrician, spoke on behalf of the American Academy of Pediatrics, saying they strongly encourage passage of this legislation
“Children stand a better chance of getting what they need if the exemption is repealed,” said Dr. Sullivan. “The legislation we are discussing today will subject health insurers and medical malpractice insurers to the same good competition laws that apply to virtually every other organization.”
A bill that will strip antitrust exemption for health insurance companies was presented Friday by Representatives Tom Periello (D-Va.) and Betsy Markey (D-Colo.)
“The two page bill would end special treatment for the insurance industry that allows them to fix prices, collude with each other and set their own markets without fear of being investigated,” said a statement put out by Markey and Periello.
Due to the merging of 400 health care insurers, 95 percent of health insurance markets are ‘highly concentrated.' The new bill would force health insurers to compete, said Periello.
Dr.Tom Sullivan, a pediatrician, spoke on behalf of the American Academy of Pediatrics, saying they strongly encourage passage of this legislation
“Children stand a better chance of getting what they need if the exemption is repealed,” said Dr. Sullivan. “The legislation we are discussing today will subject health insurers and medical malpractice insurers to the same good competition laws that apply to virtually every other organization.”
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