Providing For Consideration Of H.R. 4626, Health Insurance Industry Fair Competition Act

Floor Speech

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Mr. OWENS. Mr. Speaker, I rise in support of the Health Insurance Industry Fair Competition Act.

Mr. Speaker, I would like to thank Chairwoman Slaughter for allowing me to speak today, along with Representative Pingree.

Each month we hear of record profits for insurance companies and their CEOs, while we see health care costs rise for middle class families. One reason for this unjust discrepancy is the antitrust exemption status afforded to big insurance allowing them to create their own market and set their own prices.

A middle class family that has to choose between paying doctor bills and feeding their children is not a Democratic or Republican issue, and neither is extending quality care to those who do not have it.

I have 27 years of experience in the health care industry, and I can tell you there is no rational, legal, or moral reason to grant these companies this status. In Congress, our top priority should be job creation, and taking away insurance companies' legal trust status will improve our system in the right way by lowering insurance costs for small business owners, and encourage them to create quality jobs.

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Health care reform is a matter of fiscal responsibility. Without it, our nation is on track to spend 20 cents of every dollar we earn on health care. This current path is unsustainable and unacceptable.

Mr. Speaker, I would like to thank Representatives PERRIELLO and MARKEY for introducing the Health Insurance Industry Fair Competition Act. The bill is an important step toward creating jobs and strengthening our economy, and I urge support for the rule and for the underlying bill.

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