Polis Applauds Markey’s Bill to End Health Insurance Industry Antitrust Exemptions Congressman Jared Polis joined a majority of the House of Representatives in supporting H.R. 4626, the Health Insurance Industry Fair Competition Act
BigNews.Biz - Feb 25,2010 - Congressman Jared Polis (D-CO) joined a majority of the House of Representatives in supporting H.R. 4626, the Health Insurance Industry Fair Competition Act, which will repeal the special antitrust exemption for health insurance companies, introduced by his fellow freshmen members of Congress, Betsy Markey (D-CO) and Tom Perriello (D-VA).
“Coloradans are deeply concerned about the rising cost of health insurance, but want a solution that ensures market competition and patient choice, and this bill provides both,” said Polis. “McCarran-Ferguson is a problem Democrats and Republicans can agree must be fixed, and I commend Betsy for taking the lead in finding a bipartisan solution.”
Polis is an original co-sponsor of the Markey-Perriello bill, which would repeal the antitrust exemption in the McCarran-Ferguson Act of 1945 as it applies to the health insurance industry to give American families and businesses more control over their health care choices by promoting greater competition in the insurance industry. The bill would provide that the Federal Trade Commission may investigate for-profit and non-profit health insurers and hold the health insurance industry accountable under America’s fundamental fair competition laws, by removing them from the McCarran-Ferguson Act’s special blanket antitrust exemption for the business of insurance.
“Competition is key to the success of our economy, and protecting competition and consumer choice in health insurance markets has been a key rallying point for Congressional freshmen in the health care debate,” said Polis. “We came to Congress to make a change in people’s lives, and this bill helps give American families and small businesses greater control over their health care, which will ultimately cut costs and lead to better, healthier lives.”
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