Posted on 11/04/2009 6:47:53 PM PST by Kaslin
If the insurance industry thought its early support for health care reform would earn it some points with Democrats, it recently got a rude awakening.
After America's Health Insurance Plans, the industry association representing health insurers, released a study showing that premiums would rise 18% under the Senate Finance Committee's reform proposal, President Obama accused the industry of waging "deceptive and dishonest" attacks to derail reform legislation.
To retaliate, the president and other top Democrats are now moving to strip the industry of its long-standing exemption from federal antitrust laws.
Democrats, eager to do whatever it takes to win, are using Chicago hardball tactics now. That includes eliminating an important feature of state health insurance regulation in order to punish the industry for pointing out some inconvenient truths.
But there is no evidence that the insurance industry's antitrust exemption or recent merger activity has resulted in higher premiums or profits. Not only is federal intervention unnecessary for ensuring fair competition, it could actually make the situation worse by eliminating practices that help small insurers compete and drive down costs.
(Excerpt) Read more at investors.com ...
The insurance industry shouldn’t be exempt from anti-trust and the government should just get out of the health business. Problem solved. Next!
The only thing the Democrats care about is power. They want antitrust oversight for it’s own sake. They couldn’t care less how much people will be paying for their insurance.
I’m against all antitrust legislation.
And the government isn’t going to be subject to anti-trust, how is that fair competition?
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