Harry Reid: End insurance industry's exemption from antitrust laws


	Harry Reid: End insurance industry's exemption from antitrust laws

masbury

10-14-2009 2:05 PM

117 views

tags:

healthcare

masbury says:

Gracious. Who knew? Seems like it goes without saying.

1 Comment |

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10-14-2009 3:04 PM

ratilfar

Not very capitalistic, is it?

Then again it is. After all the tendency of all corporations is to corner markets and guarantee profit margins through monopolies/cartels.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/4a407646-4191-46b6-b8ea-9dd2e1038dcf/80B0D24D-C99C-44BC-AB8D-A75682287848/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://prescriptions.blogs.nytimes.com/2009/10/14/for-insurers-a-question-of-trust-and-antitrust/?partner=rss&emc=rss" href="http://prescriptions.blogs.nytimes.com/2009/10/14/for-insurers-a-question-of-trust-and-antitrust/?partner=rss&emc=rss" style="font-size: 11px;">prescriptions.blogs.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://prescriptions.blogs.nytimes.com/2009/10/14/for-insurers-a-question-of-trust-and-antitrust/?partner=rss&emc=rss"><P>
In a rare appearance as a witness at a Senate hearing, the majority leader, Harry Reid of Nevada,  told the Judiciary Committee on Wednesday that it should repeal a 1945 law that granted the insurance industry limited exemption to national antitrust laws by allowing states to regulate insurers. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://prescriptions.blogs.nytimes.com/2009/10/14/for-insurers-a-question-of-trust-and-antitrust/?partner=rss&emc=rss"><P>The law, the McCarran-Ferguson Act, is often cited by Mr. Reid and other critics of the health insurance industry as a reason why coverage can be so expensive for many people. They say the law allows insurers to monopolize markets and fix prices in ways that are usually illegal. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://prescriptions.blogs.nytimes.com/2009/10/14/for-insurers-a-question-of-trust-and-antitrust/?partner=rss&emc=rss"><P>“Providing an exemption for insurance companies to antitrust laws has been anticompetitive and damaging to the American economy,” Mr. Reid continued. “Health insurance premiums have continued to rise at a rapid rate, forcing businesses to cut back on health insurance coverage and forcing many families to choose between health insurance and basic necessities.” <SPAN id="more-10081"></SPAN></P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/80B0D24D-C99C-44BC-AB8D-A75682287848/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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