White House: Obama backs repeal of health insurer antitrust exemption [View All]

[Scurrilous]

Source: CNN

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"President Obama strongly supports a repeal of the antitrust exemption currently granted to health insurance companies, White House Press Secretary Robert Gibbs said Tuesday.

Liberal Democrats in particular have pushed for a repeal of the exemption, which has been in place since the end of World War II, in order to inject new competition into the health care industry while lowering consumer costs.

The announcement came as the White House sought to rally key Democrats around Obama's new compromise reform plan before a high-stakes televised health care summit with congressional Republicans on Thursday.

"At its core, health reform is all about ensuring that American families and businesses have more choices, benefit from more competition and have greater control over their own health care," Gibbs said.

"Repealing this exemption is an important part of that effort. Today, there are no rules outlawing bid rigging, price fixing and other insurance company practices that will drive up health care costs and often drive up their own profits as well."

Read more: http://www.cnn.com/2010/POLITICS/02/23/obama.health.antitrust/