Frustrated with health insurers, Democratic lawmakers are calling for revoking the industry’s antitrust exemption.
Senate Majority Leader Harry Reid told the Judiciary Committee today that the health insurance industry wants to continue the monopoly that it enjoys in some states. Reid says the companies are anticompetitive because they make more money than any other type of U.S. business.
Reid’s comments came hours after the industry unveiled ads critical of Democratic health care bills.
Reid testified at a previously scheduled hearing on whether to repeal the 1945 McCarran-Ferguson Act that lets states regulate insurers without federal interference.
Christine Varney, assistant attorney general in the Justice Department’s antitrust division, said the department supported repealing the antitrust exemption.
Democratic Sen. Charles Schumer of New York wants to make repeal part of health care overhaul. (AP)
