[Congressional Record Volume 156, Number 26 (Friday, February 26, 2010)]
[Extensions of Remarks]
[Page E263]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             HEALTH INSURANCE INDUSTRY FAIR COMPETITION ACT

                                 ______
                                 

                               speech of

                           HON. ANNA G. ESHOO

                             of california

                    in the house of representatives

                      Wednesday, February 24, 2010

  Ms. ESHOO. Mr. Speaker, I rise today in support of the Health 
Insurance Industry Fair Competition Act.
  The McCarran-Ferguson Act, passed in 1945, exempted insurance 
companies from antitrust legislation that applies to most other 
business. The Health Insurance Industry Fair Competition Act removes 
the antitrust exemption for health insurance companies, requiring them 
to compete fairly and adhere to the same antitrust laws as others. No 
longer will health insurers be allowed to price-fix, divide up 
territories among themselves, or sabotage their competitors in order to 
gain a monopoly in the marketplace. Such practices have been outlawed 
in other industries for decades.
  The Health Insurance Industry Fair Competition Act will bring much 
needed reform to the health insurance industry by allowing true 
competition between health insurers. Competition is what drives our 
economy, spurs innovation, and ensures that the American consumer gets 
a fair deal. More competition means lower health insurance costs for 
higher quality healthcare.
  For too long, the health insurance exemption has led to higher 
premiums for consumers and contributed to the unsustainable increases 
in health care costs. As a result, 94% of all health insurance markets 
are ``highly concentrated''--meaning consumers have little or no choice 
between insurance providers. There are only two industries in our 
country that are exempt from antitrust laws--the health insurance 
industry and major league baseball.
  The American people deserve better than this and I'm proud to cast my 
vote in support of the Health Insurance Industry Fair Competition Act.

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