I’ve been saying for months that we’re not in a medical or health care crisis, we’re in an INSURANCE CRISIS. It looks like the folks at Congress know what I’m talking about.
Congress seems poised to end a 50-plus year vacation insurance companies have enjoyed from federal anti-trust regulation. Bills are making their way through committees in both the House and Senate that would strip the insurance industry of its exemption from federal anti-trust laws.
This important move by Congress will increase competition and prevent price-fixing, all of which helps the American consumer times these tough financial times. The insurance companies, not surprisingly, are crying wolf over the prospect of no longer being able to gouge Americans with unfair policies and pricing structures.
Senator Harry Reid put it best when he said: "It’s time to level the playing field for American healthcare consumers and make the insurance industry play by the same rules that other industries live by."
