**Author's Note: If you have reached this blog through a list that carries advertising, your computer may or may not be put at risk either through the list or through the advertising. I do not accept or authorize any commercial advertising of any kind on any list or post. Placing commercial advertisements with or near any of my web log posts is prohibited. Further, I do not recommend any products or services advertised with or near any of my posts or any list of my posts.**
... And "Regulation" by Trust Busters?
President Obama and Members of the U.S. Congress have advocated repealing the McCarran-Ferguson Act for Health Insurance Companies. That Federal Law has provided an Antitrust Exemption for Insurance Companies since 1945. The theory underlying the exemption was that Insurance Companies were regulated by the States, and State Regulation of Insurance should continue without Federal intervention.
The head Antitrust Enforcer in the U.S. Department of Justice has said that she is "very concerned" about concentration of economic forces in various markets, including "the kinds of concentration we see in the health-insurance market." Christine Varney, Esquire, quoted by Lorraine Woellert and Justin Blum, 'Antitrust Enforcer for U.S. Says Insurers May Lack Competition" (Bloomberg.com, Saturday, February 27, 2010).
Ms. Varney "endorsed" revoking the McCarran-Ferguson Act, although the linked newspaper report does not make it clear that the Antitrust Chief's endorsement was limited to revoking the antitrust exemption only for Health Insurance Companies. See id.
Please Read The Disclaimer.
Comments