Hodes Votes To Increase Competition, Fight Price Fixing Of Health Insurance

Press Release

Today, Paul Hodes voted to strike down monopoly protections which have shielded health insurance companies from increased free market competition. Passed just one day before the President holds his bipartisan health care summit, "The Health Insurance Industry Fair Competition Act" sets the stage for passage of broad-based health insurance reform that will reduce costs and expand options for New Hampshire families.

"For too long Washington special interests have protected health insurers as they've built unbreakable monopolies, fixed prices outrageously high, and racked up unprecedented profits on the backs of the Granite State's insured," said Hodes. "Health insurance reform is heading down the home stretch. And if today's vote is any indication, health care that increases affordability, protects small businesses, and creates jobs is right around the corner."

The Health Insurance Industry Fair Competition Act removes anti-trust exemptions the health insurance industry has enjoyed while they have collected record breaking profits. Health insurance companies will now be legally responsible for price fixing, unfair business practices, and non competition agreements within the industry.

Source