Schumer to make antitrust push against insurers

[kpete]

Source: Politico

BULLETIN -- POLITICO’s Carrie Budoff Brown: This morning, Senator Schumer is going to say, in light of the insurance industry report warning premiums will rise under reform, Dems should push to revoke the health insurance industry's antitrust exemption as a floor amendment. This will be at a Senate Judiciary Committee hearing, where Majority Leader Reid is also testifying." 10 a.m., Dirksen 226, “Prohibiting Price Fixing and Other Anticompetitive Conduct in the Health Insurance Industry."



Read more: http://dyn.politico.com/printplaybook.cfm?uuid=52A0AFEB-18FE-70B2-A8F200A4AD71E9FB

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Congress Reconsiders Anti-Trust Exemption for Health Insurance Industry

The Senate Judiciary Committee has scheduled a hearing entitled, “Prohibiting Price Fixing and Other Anticompetitive Conduct in the Health Insurance Industry” scheduled for Wednesday, October 14, 2009. The hearing concerns identical new bills (S. 1681 and H.R. 3596) that NASW is watching. The legislation would eliminate a long-standing federal law that excludes the insurance industry from federal anti-trust regulation. Under the Constitution, regulation of interstate commerce is a federal responsibility. However, in 1945 the McCarran-Ferguson Act authorized states (in the absence of federal law or regulation) to regulate all insurance products, including health, leading to the state regulatory system in place today. This Act also exempted the insurance industry from federal anti-trust law. Therefore, the Justice Department cannot now enforce federal antitrust law on the insurance industry.

http://www.socialworkblog.org/advocacy/index.php/2009/10/09/congress-reconsiders-anti-trust-exemption-for-health-insurance-industry/

[msongs]

1. saw an ad at Kos saying only baseball and insurance are exempt from antitrust....so....

time for anti trust protection to be yanked for the death merchant profiteers.

Wonder if dems have the guts to do it?

Msongs

[peace frog]

2. YES!

Go for it, Seantor Schumer! Now if only the rest of the Senate can be made to follow through (I'm talking to you, Harry Reid).

[TheCoxwain]

3. Use their own report against them ...

to really turn the screws on

[ljm2002]

4. What a great move!

Let's let them know, this is an amendment we can get behind. Those f***ers think they can just do whatever they please, and the hell with the rest of us. Time to cut them off at the knees.

K&R

[LeFleur1]

5. Agreed

They've been denying people for years and jacking up premiums. Time to stop it.

[xchrom]

6. that's just as it should be. nt

[No Elephants]

7. Politico pimps. The insurance "industry" report made clear rates would rise in any event. The

claim was that rates would rise--or more accurately--the insurers would increase rates--more under the Baucus bill.



That aside, let's see how far Schumer actually gets with this before we do any happy dances.

[Wizard777]

8. The insurance industry is trying to regulate the Federal Government.

In issuing this statement in this manner. The insurance industry is ever so arrogantly and effectively trying to regulate the federal government. That's NOT how the interstate commerce clause works in my copy of the Constitution. That's just my way of trying real hard not to call what the insurance industry is doing Exorting the Federal Government. Basically there is 800 billion at stake. If the Federal Government enacts Health Care Reform. The Insurance industry is going to harm Americans. They're going to hit them where it really hurts. In the wallet. To me that's exortion. But right mow I'm willing to say at the very least the Insurance Industry is trying to regulate the Federal Government. Basically telling the Federal Government what they may and may not do and providing consequenses for their actions.

[FREEDOM61]

10. The Baucus bill will make it legal for the insurance industry to,become pimps

Hope Schumer and others stand up for the people that got them elected

[SandWalker1984]

9. We need antitrust to break up FL insurance monopolies!

If you want to see insurance companies on steroids, come to Florida, and it's not just health insurance - it's also homeowners (hazard) insurance.

If you've shopped for either type of insurance in Florida, you'd know how much of a monopoly the insurance corporations are and how much they set prices for all.

It's interesting the Schumer story broke today and I just received an email from AAA stating State Farm in Florida is raising homeowners insurance rates by 28% after being turned down by state insurance regulators for the over 50% increase they originally wanted and threatened to leave the state if they didn't get it.

Considering we haven't had any hurricanes for several years, what is their justification for this huge increase?

We have the same problem with health insurance here. It's pay the high rates being offered (and the various company's plans differs by only a few dollars) or go without.


If Congress is not going to give us a single payer system, or a public option that is equivalent to Medicare and open to EVERYONE, not just 5% of us, then

yes, let's regulate the insurance companies the same as we do utility companies. Limit the profit margins, make them apply to a hearing board for rate increases, make them prove how the health care premiums are spent, limit executive pay and perks.

Now THAT would be true health insurance reform!

[wroberts189]

11. knr