Tuesday, December 1, 2009

I never knew this

but apparently insurance companies have been exempt from anti trust laws since the mid 1940's. All of that is about to change if senator Pat Leahy has his way and honestly i hope he's successful. In a press release Leahy explained why he wants to take away their exempt status

Leahy said, “This amendment will prohibit the most egregious anticompetitive conduct – price fixing, bid rigging and market allocations – conduct that harms consumers, raises health care costs, and for which there is no justification. Subjecting health and medical malpractice insurance providers to the antitrust laws will enable customers to feel confident that the price they are being quoted is the product of a fair marketplace.”

this is not the first time he has tried to change the current unfairness of the exempt status but this time it seems to be picking up steam and its being co-sponsored by 18 other senators. if the amendment passes insurance companies will basically be forced to compete instead of just fixing prices and making customers either take it or leave it. Below is a list of people who have done the right thing by supporting or co-sponsoring the current amendment being offered up by senator Leahy

Maria Cantwell (D-Wash.)
Dick Durbin (D-Ill)
Russ Feingold (D-Wis)
Diane Feinstein (D-CA)
Chuck Schumer (D-NY)
Arlen Specter (D-PA)
Claire McCaskill (D-Mo)
Ron Wyden (D-Ore)
Al Franken (D-Minn)
Sheldon Whitehouse (D- R.I.)
Ted Kaufman (D -Del)
John Rockefeller (D - W.V.)
Roland Burris (D - Ill)
Michael Bennett (D - Colo)
Frank Lautenberg (D - NJ)
John Kerry (D - Mass)
Joe Lieberman (I - Conn)<---decided to not be a total douche this time

also supporting the measure are the attorneys general of 10 different states and its being supported by the organizations below

consumer federation of America
the American hospital association
the American academy of pediatrics
the American dental association

Read more about it and get a ton more info by clicking on this link