Health Insurance Monopolization Now Complete - FDL

[WillyT]

Health Insurance Monopolization Now Complete
By: David Dayen Wednesday April 7, 2010 10:06 am

<snip>

The American Medical Association, in a new report, shows that almost every single health insurance market in America is “highly concentrated”.

In 24 of the states, the two largest insurers had a combined market share of 70 percent or more. Last year, 18 of 42 states had that type of market situation.

Among the other findings:

• In 54 percent of metropolitan markets, at least one insurer had a market share of 50 percent or more — up from 40 percent of metropolitan markets the year before.
• In 92 percent of metropolitan markets, at least one insurer had a share of 30 percent or more — up from 89 percent of metropolitan markets the year before.
• Ninety-nine percent of metropolitan markets are highly concentrated, according to federal merger guidelines, compared with 94 percent the year before.

99% of all health insurance markets are highly concentrated. That hasn’t been seen in an entire sector since the Gilded Age.

When markets are highly concentrated, consumers have no choice but to accept extreme rate hikes, denial of benefits and other industry games. And that’s exactly what’s happened in recent years. The Affordable Care Act seeks to solve this problem by fostering competition in the exchanges, but without a renewed effort to break insurance monopolies throughout all insurance markets, including the large-group sector, consumers will continue to get screwed.

The President of the AMA, Dr. J. James Rohack, reacted to this report by calling on the Justice Department to enforce anti-trust laws prohibiting “harmful mergers.” Central to that would be a repeal of the insurance industry’s anti-trust exemption. A bill to that effect passed the House earlier this year. It has, say it with me, stalled in the Senate.

<snip>

Link: http://news.firedoglake.com/2010/04/07/health-insurance-monopolization-now-complete/

:shrug:

[ixion]

1. and now they're quasi-federal agencies

that's just freakin' great.

[bigtree]

3. won't that association with the federal government eventually obligate them to more regulation

. . . of their industry?

[ixion]

4. not when their lobbyists are writing the regulations

as they did the bill.

And the keyword is "quasi." They're not really federal agencies, they're very much private, FOR PROFIT companies, and that is not likely to change.

[amborin]

5. like the way the banksters are not regulated, even after getting Tarp$$$ ?

[amborin]

2. K&R

[leftstreet]

6. K&InvisibleR

[WillyT]

7. Hysterical Ain't It ??? - FDL Posts Seem To Need Lots Of Invisible R's...

just to get visible R's!!!

:rofl:

Ah well... everybody needs a hobby!

:evilgrin:

:hi:

[enlightenment]

8. Less than hysterical that some DUers can't see beyond the source of

the article to the source of the information.

I wonder if it would it be more relevant if the information came from another source?

How about from the horse's mouth, so to speak?

http://www.ama-assn.org/amednews/2009/03/09/bisb0309.htm

FDL aside, the information is what is important - not who reports on it.

[WillyT]

9. That's Great, And Definitely Useful... I Happen To Like The Commentary As Well...

So as long as everybody is happy...

:shrug:

:hi:

[Echo In Light]

10. k/r

[Bluebear]

11. FDL! FDL!