Under the Markey-Perriello bill, health insurers will no longer be protected from liability for price fixing, dividing up market territories or bid rigging, according to the release.
Health insurance premiums have more than doubled in the past decade, and in the last 14 years, there have been 400 mergers among healthcare insurers. Ninety-five percent of health insurance markets are “highly concentrated,” which reduces competition and can drive up costs, according to the release. The bill is intended to reduce insurance costs by removing anti-trust protections given to insurers.
A measure similar to the Markey-Perriello bill was passed by the House Judiciary Committee last year with support from three Republicans — U.S. Reps. Louie Gohmert (R-Texas), Dan Lungren (R-Calif.) and Tom Rooney (R-Fla.).
Read the Rep. Markey’s release on the health insurance anti-trust exemption.
