Leahy, Daines Introduce Bipartisan Bill to Prevent Big Health Insurance Companies From Price Fixing, Collusion
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- Bill Will Show True Healthcare Costs, Protects Consumers
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"For far too long, health insurance companies have gotten away with taking advantage of consumers and charging them outrageous prices for their health care," Daines said. "It's time we look into these companies practices by demanding transparency in order to hold them accountable."
"There's simply no justification for exempting health insurance companies from laws prohibiting price fixing. Applying our federal antitrust laws to health insurance providers will let Americans feel more confident that the prices they are being charged are the product of a fair marketplace - not by the whims of a few dominant corporations. This bill will curtail the most egregious anticompetitive practices, like price fixing, bid rigging and market allocations, which hurt consumers and drive up health care costs," Leahy said.
The bill holds health insurance companies accountable and ensures they are subject to the same laws which prohibit unfair trade practices such as price fixing, collusion, or market allocations.
Background:
In a bid to circumvent the decision, insurance companies lobbied
For more information on the bill, click HERE (https://www.daines.senate.gov/download/mccarran-ferguson-one-pager).
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