Politico: Shumer to seek revoke of health industry antitrust exemption

[WI_DEM]

BULLETIN — POLITICO’s Carrie Budoff Brown: This morning, Sen. Schumer is going to say, in light of the insurance industry report warning premiums will rise under reform, that Dems should push to revoke the health insurance industry's antitrust exemption as a floor amendment. This will be at a Senate Judiciary Committee hearing, where Majority Leader Harry Reid is also testifying." 10 a.m., Dirksen 226, “Prohibiting Price Fixing and Other Anticompetitive Conduct in the Health Insurance Industry

http://dyn.politico.com/printplaybook.cfm?uuid=52A0AFEB-18FE-70B2-A8F200A4AD71E9FB

[Pirate Smile]

1. Here is a diary on Daily Kos on the issue.

http://www.dailykos.com/story/2009/10/14/793112/-MAJOR-UPDATE:-BREAKING:-SchumerLeahy-Take-on-Insurance-Antitrust-Exemption

"If you think the public option has the insurance industry shaking in their boots, you're mistaken. THIS is what keeps them up at night: a Federal Master overseeing an antitrust consent agreement. And that is exactly what they are going to get under aggressive antitrust action. If you want to know how the Obama Administration is handling antitrust issues, read this diary.

Big props to Chuck Schumer and Pat Leahy for aiming the big artillery right at Big Insurance. I'm trying to find a way to watch the hearing, taking place right now, and I'll be updating as news is made."


Some comments:

The way antitrust works is (45+ / 0-)
that if you cannot bring competitors into a market to decrease concentration, you move to the next step which is breaking up the company.

"The future ain't what it used to be." - Yogi Berra

by brooklynbadboy on Wed Oct 14, 2009 at 07:17:23 AM PDT

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Wonder what Blue Cross Blue Shield thinks of this (26+ / 0-)
Seeing in states like North Dakota they have 85% of the market.

Hey you, dont tell me theres no hope at all Together we stand, divided we fall.

by marcvstraianvs on Wed Oct 14, 2009 at 07:21:53 AM PDT

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May be why they issued such a stupid (10+ / 0-)
statement the other day. I smell panic.


Like happened to Ma Bell, back in the day. (27+ / 0-)
I recall a lot of howling that the end of The Phone Company would be a disaster. Lo and behold: a few decades on, telecommunications is a competitive and robust sector of the market.

So I can see why Big Insurance would be frightened. Heaven forbid they should have to do likewise and actually provide value in order to make their money.

by Radical Moderate on Wed Oct 14, 2009 at 07:27:48 AM PDT


If there was (12+ / 0-)
really open competition between lots of different companies, the prices would go down. Basically that's what members of congress have. I would trade the PO for some real trust busting, as the big problem is the insurance company monopolies.

by PLS on Wed Oct 14, 2009 at 07:21:15 AM PDT

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[wroberts189]

6. great post .... kick nt

[joeybee12]

2. This would be great if it happened...

...but I'm not holding my breath.

[wroberts189]

7. You do not have to..... just hang on tight. We will make it. nt

[redqueen]

3. Gee, do you think?

FCOL... like we needed that report for motivation... how about common sense? Anyway...

If any Dem opposes this, they should catch nine kinds of hell from their constitutents.

[Captain Hilts]

4. Wow. This IS BIG. nt

[wroberts189]

8. A+ Correct: The HC corps are not going to like this one bit . nt

[wroberts189]

5. and a wonderful knr to this... nt

[wroberts189]

9. DAMMIT ..this needs to be recd to the top. PLEASE nt

[tosh]

10. Kick.

[Captain Hilts]

11. Giving you the boot! nt

[wroberts189]

12. kicking for the night crew. nt

[whoneedstickets]

13. Love this idea. When the Thugs try to oppose this we reveal all that Free Market talk

was just a smokescreen to protect entrenched interests.