Antitrust exemption targeted

U.S. Sen. Michael Bennet is pushing for a compromise agreement on health care reform to include language that would repeal antitrust exemptions for the health insurance industry.

The Denver Democrat, along with Sen. Patrick Leahy, D-Vt., sent a letter to President Obama, Senate Majority Leader Harry Reid, D-Nev., and House Speaker Nancy Pelosi, D-Calif., asking for a provision in the final version of health reform legislation that would repeal the federal antitrust exemption for health and medical malpractice insurers.

The two lawmakers pointed out that states, which are responsible for regulating the insurance industry, often don’t have the time or resources for proper regulation. Repealing the antitrust exemptions would make it easier to keep the industry in check, said the two lawmakers.

[...] A provision in the House version of health reform legislation would repeal the McCarran-Ferguson Act and eliminate exemptions from antitrust violations, including price fixing, bid rigging and market allocations.

SOURCE: Denver Daily