The health insurance industry has been exempt from federal antitrust laws- Change That!
Ask Your Representative to End Unfair Insurance Practices by Supporting H.R. 911
For
nearly 65 years, the health insurance industry has been exempt from
federal antitrust laws – leaving consumers susceptible to unfair price
fixing, bid rigging, and
market allocation. It’s time to restore competition within the health
insurance market and protect consumers from these unfair practices.
The U. S. House of Representatives is currently considering H.R. 911, the
Competitive Health Insurance Reform Act of 2013: this legislation
would repeal the McCarran-Ferguson antitrust exemption granted to the
health insurance industry decades ago. Repeal of McCarran-Ferguson would
allow federal agencies like the U.S. Department
of Justice to investigate and challenge collective action by insurance
companies and enable those impacted by illegal and anticompetitive
practices to seek remedies against those insurers.
In
the absence of federal oversight, regulation of the insurance industry
will continue to be left with the states, which often lack the time and
resources to effectively
investigate antitrust claims. As a result, anticompetitive activities
remain effectively unchecked. This must change: increased competition is
important for consumers since it encourages innovation and fosters
variety in the marketplace.
It’s time for the health insurance industry to play by the same rules as virtually every other industry in our country.
Contact your Representative today and urge them to support H.R. 911.
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