“Will Revoking Insurance Industry’s Exemption from Antitrust Laws be a Good Alternative to “ Public Plan” to Increase Competition?”

How savvy senior House Democrats are? Today’s news is, senior House Democrats, including House Speaker Nancy Pelosi, are asking to revoke the insurance industry’s exemption from the federal antitrust laws in the House-senate compromise bill. House Democrats also demand to include a “Nationwide Insurance Exchange” in the final bill, which is regulated by the federal government so that consumers can shop for private coverage. This combination of two mHow savvy senior House Democrats are? Today’s news is, senior House Democrats, including House Speaker Nancy Pelosi, are asking to revoke the insurance industry’s exemption from the federal antitrust laws in the House-senate compromise bill. House Democrats also demand to include a “Nationwide Insurance Exchange” in the final bill, which is regulated by the federal government so that consumers can shop for private coverage. This combination of two measures will surely beat oligopolistic competition or monopoly in US insurance market and introduce competition, although the effectiveness of these two measures in reducing health care costs and decreasing insurance premium would be probably less than those that can be achieved by “Public Plan Option.” If the current endlessly-arm-twisting political games had indicated that “Public Plan” is not a viable option under the current chronic spell of strong special interest politics, at least including these combined measures of stripping the insurance industry of exemption from antitrust laws and “Federally-regulated Nationwide Insurance Exchange” will eliminate oligopoly (competition among a few big companies) or monopoly (market domination by one big company without competition) structure of the insurance industry, break down insurance giants into smaller-scale-companies and strengthen the intensity of competition among smaller insurance companies. If “Public Plan” is facing insurmountable barrier to be a part of insurance reform due to industry interests, this second measure may be a viable alternative to achieve desirable market competition. http://news.yahoo.com/s/ap/20100109/ap_on_bi_ge/us_health_care_overhaul easures will surely beat oligopolistic competition or monopoly in US insurance market and introduce competition, although the effectiveness of these two measures in reducing health care costs and decreasing insurance premium would be probably less than those that can be achieved by “Public Plan Option.” If the current endlessly-arm-twisting political games had indicated that “Public Plan” is not a viable option under the current chronic spell of strong special interest politics, at least including these combined measures of stripping the insurance industry of exemption from antitrust laws and “Federally-regulated Nationwide Insurance Exchange” will eliminate oligopoly (competition among a few big companies) or monopoly (market domination by one big company without competition) structure of the insurance industry, break down insurance giants into smaller-scale-companies and strengthen the intensity of competition among smaller insurance companies. If “Public Plan” is facing insurmountable barrier to be a part of insurance reform due to industry interests, this second measure may be a viable alternative to achieve desirable market competition. http://news.yahoo.com/s/ap/20100109/ap_on_bi_ge/us_health_care_overhaul

[Via http://mikyunglim.wordpress.com]