House Bill Would Repeal Health Industry Antitrust Exemptions

[Reason]

House Bill Would Repeal Health Industry Antitrust Exemptions

Democratic Congress members Tom Perriello and Betsy Markey have announced plans to introduce a measure this week to repeal the insurance industry’s exemption from federal antitrust laws. Critics say the McCarran-Ferguson Act of 1945 has granted the insurance industry a captive market with no curbs on price fixing and other anti-competitive practices. A similar measure passed in a House committee vote last year but has stalled with the breakdown of talks on healthcare reform.

 

[sevin]

House Bill Would Repeal Health Industry Antitrust Exemptions

Democratic Congress members Tom Perriello and Betsy Markey have announced plans to introduce a measure this week to repeal the insurance industry’s exemption from federal antitrust laws. Critics say the McCarran-Ferguson Act of 1945 has granted the insurance industry a captive market with no curbs on price fixing and other anti-competitive practices. A similar measure passed in a House committee vote last year but has stalled with the breakdown of talks on healthcare reform.

Probably a stupid question, but is this a good thing?

 

[low preference guy]

It's more government regulation of insurance companies. It will be worse. They should remove restrictions to interstate competition. That's what the Feds should do.

 

[Fox McCloud]

It's more government regulation of insurance companies. It will be worse. They should remove restrictions to interstate competition. That's what the Feds should do.

this is only a small blip of the problem, but if this policy is implemented and just ONE State decides to give its insurance companies an advantage by deregulating them completely (or at least a great deal of deregulation), then it could, at the end of the day, work to our advantage. It's something I support, but it's not a panacea.

either way, they should have exemption (every company should)...this'll make premiums higher if it passes and the government hinders/blocks as merger and/or the government breaks up an insurance company :T