Congressman Tim Bishop voted with a bipartisan majority of the House of Representatives Wednesday to ensure American consumers "get a real choice and a fair deal when purchasing health insurance."
For the past 65 years the health insurance industry has been legally exempt from anti-trust laws. According to press documents, the federal government was banned from investigating evidence of possible collusion during that time period. In the last 14 years alone some 400 mergers have occurred among health insurers resulting in a highly concentrated insurance markets reducing choices in insurance providers.
Health insurers that were previously exempt from anti-trust laws will now be called to task in cases of price fixing or dividing up territories among themselves in order to gain a monopoly in the marketplace. Similar practices have been outlawed in other industries for decades.
The legislation is supported by numerous groups including the American Hospital Association, American Nurses Association, American Academy of Pediatrics, Consumers Union, Consumer Federation of America, Center for Justice and Democracy, and U.S. PIRG.
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