U.S. Bill Ends Anti-trust Exemption To Medical Insurers
Amidst concerns over rising premiums, a new legislation has been introduced that ensures the elimination of half a century-old anti-trust exemption for health insurance and medical malpractice insurance companies.
The bill introduced by the Chairmen of the Senate and House of Representatives Judiciary Committees, repeals a 1945 exemption making the health insurance and malpractice insurance companies subject to antitrust laws that forbid the fixing of prices, rigging bids and dividing markets between them.
Sen. Patrick Leahy, Chairman of the Senate panel and who had previously introduced a like legislation says, he did so again partially over concern at the rising costs. He says, as costs increase at an alarming rate, it is the doctors and patients in the markets for health insurance and medical malpractice insurance, who are paying the price. Leahy, a Vermont Democrat believes insurers should not have any objection to being subjected to the same antitrust laws as the rest of us.
A separate report reveals U. S. workers whose employers pay health insurance for them and their families, have seen a more than doubling of their premiums in the last decade.
The Kaiser Family Foundation's survey reveals, the average company-provided family health insurance plan premium rose from $5,791 in 1999 to $13,375, a jump of 131%. While, the Business Roundtable, an organization representing large U. S. corporations, says per-employee health costs from the current $10,743 will jump to $28,530 in
2019, if nothing is done about the rise in costs.
The bill which has little or no Republican support will face an uphill battle.
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