Trumping Insurers

When I first started speaking out as a young actuary I had one primary focus:

Repeal Mccarran-Ferguson

Because of the power of the insurance lobby and those premium taxes paid to states for their mis-regulation that went nowhere.  Until…..

House Votes to Repeal Antitrust Exemption for Health Insurers Under the Mccarran-Ferguson Act

It might only be a ruse to get health insurers in line for an Obamacare repeal:

The Administration supports H.R. 372, the Competitive Health Insurance Reform Act of 2017. Many Americans have seen their health insurance premiums increase, and healthcare options decrease, significantly under the Affordable Care Act. The Administration supports efforts to restore competition to the health insurance marketplace in order to lower costs and expand choices for consumers.

H.R. 372 would amend the McCarran-Ferguson Act to ensure that Federal antitrust laws apply to the business of health insurance. The bill supports the goal of giving American families and businesses more control over their own healthcare choices by promoting greater health insurance competition. The bill would specifically prohibit businesses from engaging in anti-competitive practices, including price fixing, bid rigging, and market allocation that could drive up healthcare costs.

But then again, maybe this time is different.

5 responses to this post.

  1. Posted by Anonymous on March 30, 2017 at 4:09 pm

    Hmm not according to TL, I mean anon

    Anonymous on March 30, 2017 at 2:30 pm
    Sure TL, insurers are the one who sucker the taxpayers, all types all the time.

    Reply
    Anonymous on March 30, 2017 at 3:18 pm
    Anon, Others doing bad things does not excuse or lessen the thievery at the hands of Public Sector Unions/Politicians……

    If S3040/A99 is passed, NJ is doomed.

    The following are Critiques of that bill from VERY knowledgeable sources:

    http://www.njspotlight.com/stories/17/03/28/op-ed-nj-police-and-fire-pension-bill-from-the-frying-pan-to-the/

    http://www.philly.com/philly/opinion/20170329_Commentary__Jersey_plan_would_exacerbate_pension_problems.html

    Reply
    Anonymous on March 30, 2017 at 3:22 pm
    Anon, And to more closely address your comment ……

    No, “Insurers” rarely sucker the Taxpayers. It’s the Insurance Brokers and Politicians who pick those Brokers and who structure deals to benefit THEM (not the insurance companies) that sucker the Taxpayers.

    Reply
    Anonymous on March 30, 2017 at 4:04 pm
    Please give me a (tax) break – AIG, et al….

    Reply

    • Posted by Anonymous on March 30, 2017 at 5:14 pm

      The payments to AIG had nothing to do with “insurance”. Tthey were the result of gross incompetence at the highest levels of our gov’t.

      Reply

  2. Posted by Anonymous on March 30, 2017 at 4:12 pm

    BTW, JB and Eric have clearly stated the P&FRS ‘P&B power grab’ legislation does nothing. I don’t agree but I’m not the expert, apparently the ex-expert (TL) has some concerns?

    Reply

    • Posted by Anonymous on March 30, 2017 at 5:17 pm

      Read the 2 articles linked above. Did the authors say anything that’s not true ?

      How can anyone conclude that S3040/A99 is anything but putting the Fox in charge of the Hen-House.

      Reply

  3. Posted by George on March 31, 2017 at 7:16 am

    During the campaign Trump, who has done business is countries like the UK that have national health insurance commented positively about it. In general, US business types complain about the myriad of state insurance plans with differing state requirements and how hard it is to navigate them.

    My guess as to where this is going. Repeal of Mccarran-Ferguson is a probably just a first step. The next step is to allow health insurers to sell federally regulated nationwide plans that are not in any important way regulated by states. This might be a set up for single payer, meaning paying taxes not premiums. In Canada as far as I can see a nationwide business is mostly unconcerned about health insurance for employees, but probably complain about high taxes. The Canadian system works better than the US. The Mexican system probably works better than the US too. Actually most every system works better than the US, especially if you judge them based on resources available.

    Reply

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