supports lifting of anti-trust exemption for health insurance industry
The end of price fixing by the big health insurance companies is here, as the House of Representatives passed a bill which would end price fixing by these big health insurance companies. This Anti-trust exemption bill for health insurance industry was passed on Wednesday which was also supported by Western New York Democrat Louise Slaughter.
Louise Slaughter said that the health insurance industry has enjoyed the anti-trust status for 60 years now, and it is time to end that. This legislation revokes the anti-trust status, so health insurance industry is facing a bad news.
Louise Slaughter further elaborated that the health insurance industry previously was able to share data and engage in collaborative and anti-competitive behavior. According to Louise Slaughter, there is very little prospect for the average person to price shop, so this anti-competitive behavior should end.
This bill which is supported by Louis Slaughter is passed by a margin of 406 to 19!