Insurance companies should lose their anti-trust exemption
Why are American health insurance companies completely exempt from federal antitrust laws? They are monopolies that raise rates without having to worry about competition.
In California, Blue Cross is beginning to raise rates up to 39 percent for some customers. There is far too much power in the hands of Big Insurance companies. They all must be held responsible and subjected to anti-trust laws, just like every other company.
Rep. Tom Perriello in a Virginia district. His bill to subject insurers to antitrust laws was passed in the house 406-19 despite overwhelming opposition from the insurance industry. Republicans are trying to block a vote in the Senate. Call or e-mail Senators Stabenow and Levin to ensure the bill is passed.
We might be justified to ask Ronald A. Williams, CEO of the giant health-insurer Aetna Inc., of his $47,345,946 salary (and other compensation) over the past two years. At the same time his company Aetna is forcing 650,000 clients to drop their coverage next year, to seek additional profit expectations. It was found through Seton Hall University School of Law’s Health Reform Watch that CEO’s salaries in companies Cigna, Coventry, Hamana’s, WellPoint’s, Health Net’s, and many more were from $9,094,271 to $23,045,834.
It is obvious greed and profit; the American way overshadows the “Common Good” where 45,000 American deaths each year is linked to lack of health insurance.
Pat R. O’Malley Ann Arbor
Comments
MGradMSUMom
Sat, Apr 10, 2010 : 8:52 a.m.
THIS STORY is an important issue for our Nation: In my view--until our nation figures out how to generate profit from insuring everyone we won't have competition in health insurance sales. The issue is not how much insurance companies charge alone- it is the insurance company's ability to charge healthy folks and not be required use the savings to cover those in need of more care - charging an affordable premium that does not cover the total cost of care to many and charging a premium that generates a profit to many enrollees.
Diagenes
Fri, Apr 9, 2010 : 6:49 a.m.
Democrat President Harry Truman signed legislation giving the power to regulate insurance companies on the state level. Each state makes the rules on how insurance companies do business in that state. I think it would increase competition and curb price increases if people could shop for the best policy that meets their needs, instead of buying only what is available in their state. The recent legislation regulating health insurance companies will do nothing to lower costs or increase choices. BTW Sen. Levin & Stabenow supported increasing federal regulation of insurance companies while allowing their state by state monopoly.
outdoor6709
Thu, Apr 8, 2010 : 12:44 p.m.
Pat way to be a populist. If 45,000 people a year die due to lack of healthcare, why did the concerned US congress wait until 2014 to require everyone to buy health care? Won't that cause another 180,000 deaths?