Bill prevents health insurance companies from price fixing, collusion
U.S. Senator Steve Daines has announced that his bipartisan bill promoting access to affordable health care for Montanans by increasing transparency and enhancing consumer protections in the health insurance industry has been signed into law by the President.
“My bipartisan bill will now ensure greater transparency and oversight in the health insurance industry and help make health insurance more affordable for Montanans and Americans across the country. I’m glad the President has signed this commonsense bill into law,” Daines said.
A Bozeman Dentist praised Daines’ bill and work getting it signed into law. Watch the full video HERE. For TV elements, click HERE.
The “Competitive Health Insurance Reform Act” will ensure that health insurance issuers are subject to the same federal antitrust laws prohibiting unfair trade practices, such as price fixing and collusion, as virtually every other industry in our economy.
The bipartisan bill amends the McCarran-Ferguson Act to restore the application of federal antitrust laws to the health insurance industry, but does not interfere with or impact the authority of state authorities to regulate health insurance provided under the act. This bill will help address instances of artificially higher premiums, unfair insurance restrictions, and harmful policy exclusions.