Senator Patrick Leahy Pushes for Antitrust Exemption Revocation in Insurance Industry

Senator Patrick Leahy, chair of the Senate Judiciary Committee, has been advocating for the removal of the antitrust exemption enjoyed by the insurance industry. In a recent CNN interview, Leahy explained that this exemption allows health insurers to collude on prices, limit consumer choice, and keep prices high. He believes that revoking this exemption would promote greater competition among insurance companies, making prices more transparent and open.

Key Takeaways:

• Senator Patrick Leahy, chair of the Senate Judiciary Committee, is pushing for the removal of the antitrust exemption enjoyed by the insurance industry.
• The antitrust exemption allows health insurers to collude on prices, limit consumer choice, and keep prices high.
• Leahy introduced the legislation to revoke the exemption weeks ago, before the American Health Insurance Plans (AHIP) report was released.
• The legislation aims to create greater competition among insurance companies by preventing them from setting prices together and limiting market entry.
• Leahy supports a public option in the final Senate bill, which he believes would promote competition and make healthcare more affordable.
• The senator is uncertain about obtaining 60 votes for a final Senate bill that includes a public option, citing the opposition from virtually every single Republican.
• Leahy believes that a public option can be designed in a way that allows people to keep their current insurance if they prefer.

Statistics:

• 61% of Americans are in favor of the public option (according to a CNN poll).
• The insurance industry has spent millions of dollars lobbying for the antitrust exemption.
• Leahy's legislation has received support from a majority of letters and e-mails from the public.

Sources:

• CNN interview with Senator Patrick Leahy (D-VT) on October 22, 2009
• American Health Insurance Plans (AHIP) report