This is from Politico, so take it with a grain of salt:
BULLETIN -- POLITICO’s Carrie Budoff Brown: This morning, Senator Schumer is going to say, in light of the insurance industry report warning premiums will rise under reform, Dems should push to revoke the health insurance industry's antitrust exemption as a floor amendment. This will be at a Senate Judiciary Committee hearing, where Majority Leader Reid is also testifying." 10 a.m., Dirksen 226, "Prohibiting Price Fixing and Other Anticompetitive Conduct in the Health Insurance Industry."
If its true, that is a potentially BLOCKBUSTER amendment.
My previous pessimistic diary on this matter being including in the bill now may be proven incorrect.
The Senate Judiciary Committee is holding a hearing this morning on this very matter:
The Senate Judiciary Committee has scheduled a hearing entitled, "Prohibiting Price Fixing and Other Anticompetitive Conduct in the Health Insurance Industry" scheduled for Wednesday, October 14, 2009. The hearing concerns identical new bills (S. 1681 and H.R. 3596) that NASW is watching. The legislation would eliminate a long-standing federal law that excludes the insurance industry from federal anti-trust regulation.
This has been an issue I've been blogging about for some time. If you'd like to read the background of big insurance's antitrust exemption, read this diary.
If you think the public option has the insurance industry shaking in their boots, you're mistaken. THIS is what keeps them up at night: a Federal Master overseeing an antitrust consent agreement. And that is exactly what they are going to get under aggressive antitrust action. If you want to know how the Obama Administration is handling antitrust issues, read this diary.
Big props to Chuck Schumer and Pat Leahy for aiming the big artillery right at Big Insurance. I'm trying to find a way to watch the hearing, taking place right now, and I'll be updating as news is made.
Update: Thanks to commenter accumbens for providing live webcast link: Senate Judiciary Committee Hearing
Testifying: Senate Majority Leader Hon. Harry Reid, Hon. Christine Varney, Department of Justice Antitrust Chief, J. Robert Hunder, Consumer Federation of America, Prof. Lawrence Powell, PhD, University of Arkansas.
(The showing up of Reid and Varney is a big signal. Methinks AHIP is scrambling!)
MAJOR UPDATE!!!:
I just heard Chuck Schumer on MSNBC say that he believes the removal of the exemption will be included in the final bill, either in the merged legislation or as amendment on the floor. He said repeatedly that it will be in the final bill. FOLKS...THIS IS HUGE!
The video of Schumer from this morning on MSNBC has arrived. Also, you can still watch the recording of the Judiciary Committee hearing above. EXCELLENT Franken performance at 128:30.
<div><iframe height="339" width="425" src="http://www.msnbc.msn.com/id/22425001/vp/33309691#33309691" frameborder="0" scrolling="no"></iframe></div>
http://www.msnbc.msn.com/...
