Today Reid/Schumer/Leahy will hold a press conference on their plan of stripping the Insurance Industry of their anti-trust exemption. This exemption had been implemented since 1945 and no other company has this except baseball.
Well this is about to change...
http://hosted.ap.org/...
IMO, there are 3 things that needs to be in the final legislation on health care reform to increase competition: the public option, Wyden's Free Choice act, and removal of the anti-trust exemption for the Insurance industry. If all 3 things are implemented, this will open the flood gates on competition. As a result, Americans will be more accepting of a mandate to buy health insurance particularly if the government will help those who can't afford the high prices.
Well one of the 3 legs of the stool is about to be implemented. Reid, Schumer, and Leahy will be presenting their plan today on getting rid of the anti-trust exemption for insurance companies.
Top Senate Democrats intend to try to strip the health insurance industry of its exemption from federal antitrust laws as part of the debate over health care, according to congressional officials, the latest evidence of a deepening struggle over President Barack Obama's top domestic priority.
If enacted, the switch would mean greater federal regulation for an industry that recently has stepped up its criticism of portions of a health care bill moving toward the Senate floor.
Congressional officials said Senate Majority Leader Harry Reid of Nevada and Sen. Patrick Leahy of Vermont, chairman of the Senate Judiciary Committee, arranged to make the announcement Wednesday, joined by Sen. Chuck Schumer of New York.
Even those conservative Dems who do not like the public option expressed interests in getting rid of this exemption. For example, Senator Landrieu was on MSNBC's "Morning Meeting" yesterday talking about her support for Wyden's Free Choice act and the removal of the anti-trust exemption for the Industry.
Today should be interesting because already the Insurance industry is complaining.