Once again. It's LEGAL for insurance companies to price FIX! [View All]

[Joanne98]

They are PROTECTED FROM THE ANTI-TRUST ACT! NOTHING will make them compete except a government run program. UNLESS they repeal this law in the healthcare bill which nobody is discussing.

Senate Judiciary Committee Focuses On Insurance Industry's Antitrust Exemption

WASHINGTON (Wednesday, March 7) – The Senate Judiciary Committee held a hearing, “The McCarran-Ferguson Act and Antitrust Immunity: Good for Consumers?” on Tuesday focusing on the insurance industry’s federal antitrust immunity. For more than six decades, insurance companies have enjoyed immunity from federal antitrust investigation and prosecution.

“The potential for insurance industry abuse became clear on the Gulf Coast in the wake of Hurricane Katrina,” said Senator Patrick Leahy, (D-Vt.), Chairman of the Committee. “Residents, who lost so much as a result of the 2005 Hurricanes, and were then let down by a woefully unprepared government, were left to face insurance companies refusing to fulfill their commitments and help rebuild. No one should have to go through what these Americans have been through.”

Leahy has teamed up with Senate Democratic and Republican leaders to introduce S. 618, The Insurance Industry Competition Act, which would level the playing field so that insurance companies must abide by the same competition laws as nearly every other industry. The bipartisan bill would give the Department of Justice and the Federal Trade Commission the authority to apply antitrust laws to anti-competitive behavior by insurance companies.

http://leahy.senate.gov/press/200703/030707.html

We went through this after katrina. I can't believe no one remembers.

STOP THE BULLSHIT!