On the recordFebruary 24, 2010
I rise in strong support of H.R. 4626, the Health Insurance Industry Fair Competition Act... Health insurance companies currently enjoy an exemption from antitrust laws with no good justification. Meanwhile, American families are held hostage to rising health care costs and a nagging insecurity that even though they pay their premiums and they pay their copays, they could be canceled at any time, even when they get sick, or they're going to have to fight through the red tape to get the benefits they're entitled to. Last year, the five largest health insurance companies made a record $12.2 billion profit, a 56 percent jump, while dropping coverage for 2.7 million Americans. Health insurers appear to be cherry-picking who they will cover in order to make a huge profit.
