Archive for February 5th, 2010

Nancy Pelosi’s Bill Could Help Golden Rule Health Insurance & UPMC, Among Others

Friday, February 5th, 2010

nancy pelosiSince the large health care reform bill has stalled, House Speaker Nancy Pelosi is working to pass smaller bills containing the most popular reforms.  This is according to The Denver Post article “Dems pursue Plan B: lifting health-insurance antitrust shields” by Michael Riley.  Compare health insurance industry rules with other industries and you see that health insurance and Major League Baseball are the only two shielded from antitrust laws.  Pelosi hopes to change that with a new bill sponsored by Reps. Betsy Markey and Tom Perriello.

The bill would simply remove the antitrust exemption that health insurance companies have had for decades.  This would allow smaller  companies like Golden Rule health insurance and UPMC a better chance to compete in the industry.  In nine states, 75% of insureds are covered by one insurer and in thirty-five other states, half of insureds are covered by only two insurers.  Removing the antitrust exemption would increase competition, therefore lowering the cost of premiums to individuals and businesses.  It remains to be seen what the Senate will think of Pelosi’s plans.