Garamendi Calls for End to Health Insurance Industry's Anti-Trust Exemption

Congressman John Garamendi (D-Walnut Creek, CA) spoke on the House floor on Tuesday, February 23, 2010, in support of H.R. 4626, the Health Insurance Industry Fair Competition Act, introduced by Representatives Tom Perriello (D-VA) and Betsy Markey (D-CO). It restores competition and transparency to the health insurance market. The bill removes the health insurance industrys blanket antitrust exemption. This will give antitrust enforcers the authority to investigate any evidence of collusion among health insurance companies a move that puts an end to the 65-year-old prohibition on the federal governments ability to investigate and hold accountable bad actors in the health insurance industry. In this first of three videos from the floor, Congressman Garamendi outlines some of the reasons why insurance industry collusion harms consumers.

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[morganbesh]

If we just took out the greedy health insurance profits and administrative waste they create, we'd have billions of dollars more for ACTUAL health care-related expenses.

[morganbesh]

Totally Agree. Health Insurance Companies keep raising their rates at the expense of human lives. The health insurance companies need to be regulated and their profits need to be reviewed before they can raise their rates.