Ross Votes To Restore Competition, Fairness In Health Insurance Marketplace

Press Release

U.S. Representative Mike Ross, D-Prescott, voted Wednesday to ensure that American consumers get a real choice and a fair deal when purchasing health insurance. The Health Insurance Industry Fair Competition Act, H.R. 4626, passed by an overwhelming bipartisan majority of 406 to 19 and will take away the anti-trust exemption for health insurance companies, requiring them to compete fairly and adhere to the same anti-trust laws as other companies.

"For too long, Americans have been treated unfairly by health insurance companies that don't play by the rules," said Ross. "Middle-class families are facing higher premiums, a lower quality of coverage and limited choices -- all while the insurance companies are increasing its prices and turning record profits. Enough is enough."

For 65 years, the health insurance industry has been legally exempt from anti-trust laws, and the federal government was banned from even investigating evidence of possible collusion. In the last 14 years alone, there have been 400 mergers among health insurers and now 94% of all insurance markets are "highly concentrated" -- meaning consumers have little or no choice between insurance providers.

"While I do not support the current House or Senate health care reform bills, I do believe we need common sense health care reform. I have said all along that we need health insurance reforms and this legislation is an important first step in giving consumers more choices and lower prices," said Ross. "I believe we should regulate health insurance companies much like we regulate utility companies today and protect consumers from all too common unfair practices that have dominated the health care industry for years. Instead of trying to cram a 2,000 page bill through the Congress, we can and should move forward with common sense, bipartisan provisions such as getting rid of pre-existing conditions and prohibiting insurance companies from raising your rates or cancelling your coverage when you get sick."

Health insurers that were previously exempt from anti-trust laws will now bear legal responsibility for price fixing, dividing up territories among themselves and sabotaging their competitors in order to gain a monopoly in the marketplace. Such practices have been outlawed in other industries for decades.

"Competition is the core principle of our economy," said Ross. "And for consumers, it's a guarantee of two things: more choices and lower costs. It is the engine that helps drives economic growth, spurs American innovation and ensures that consumers are getting a fair deal. This bill creates a more fair health insurance marketplace and helps put our economy on sound footing for the future."

Source