This is exactly what we need to see from Democrats. Let the GOP defend their friends in the insurance business and see what the public thinks about it. (h/t Cat)
House Judiciary Committee Chairman John Conyers, Jr. (D-Mich.), Chairman of the Subcommittee on Courts and Competition Policy, Representative Hank Johnson (D-Ga.), and Energy and Commerce Committee Vice-Chair Diana DeGette (D-Colo.) today introduced the Health Insurance Industry Antitrust Enforcement Act, legislation to end the broad antitrust exemption enjoyed by health insurance companies.
Both the House and Senate today have introduced identical language to reduce insurance prices for consumers. This legislation would extend antitrust enforcement over health insurers and medical malpractice insurance issuers, which currently enjoy broad antitrust immunity under the McCarran-Ferguson Act. This immunity can serve as a shield for activities that might otherwise violate federal law.
"This legislation would specifically prohibit price fixing, bid rigging, and market allocation in the health insurance industry," said Conyers. "These pernicious practices are detrimental to competition and result in higher prices for consumers. Conduct that is unlawful throughout the country should not be allowed for insurance companies under antitrust exemption. The House Judiciary Committee held extensive hearings on the effects of the insurance industry’s antitrust exemption throughout the 1980s and early 1990s. It became clear then that policyholders and the economy in general would benefit from eliminating this exemption.
