Representatives Tom Perriello (D-VA) and Betsy Markey (D-CO) introduced legislation Friday that would end antitrust exemptions for both health insurance and medical malpractice companies. According to the congresspersons, the current antitrust exemption allows special treatment for the insurance industry, which results in price-fixing, collusion, and the industry setting its own market without oversight. The two freshmen say that repealing the antitrust exemption is a priority for them.

"It's time for Washington to decide whether we stand with patients or profiteering, whether we believe in market competition or a collusion between politicians and insurance monopolies. It's time to end the monopoly protections that Washington has protected for decades as prices skyrocketed. It's time for a simple, clean bill -- no carve-outs or special deals -- that forces insurance companies to compete. It's time to put patients and cost relief first," said Rep. Perriello in a press release. "Americans deserve to know who stands with them against the price gouging of middle-class and working-class folks. Today, we do."

"I've heard from tens of thousands of Coloradans across my district, and though people's opinions may vary, the common message is clear: the current health care system is crushing our families and businesses," said Rep. Markey in her own release. "Support for removing this unfair exemption cuts across party lines, and is a major piece of common ground that I've been working toward in our country's health care debate. This is about bringing sorely needed competition back into an industry that has for too long wielded monopoly control over hard-working American families."
According to the congresspersons, 95 percent of health insurance markets are "highly concentrated" due to hundreds of mergers over the last 14 years. That means consumers have little choice between insurers, contributing to the steep rise in insurance premiums. A measure similar to the Perriello-Markey bill passed in an earlier House committee with bipartisan support.

Read more about it:
Tom Perriello's press release: http://perriello.house.gov/index.cfm?sectionid=25§iontree=6,25&itemid=477

Betsy Markey's press release: http://betsymarkey.house.gov/News/DocumentSingle.aspx?DocumentID=169134

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