Political Quotes

“I thank the gentleman for yielding. Madam Speaker, I rise in strong support of H.R. 4626, the Health Insurance Industry Fair Competition Act, which will finally require the health insurance industry to comply with the same Federal antitrust laws as virtually every other industry in the United States. The recent economic recession dealt a crushing blow to Rhode Islanders. Many are out of work and simply don't have insurance coverage. The ones who do are struggling to afford the perpetual rate increases year after year. Although Rhode Island is a State with strong health insurance consumer protections, this fact provides little comfort to the thousands of people who will lose their coverage because it's simply too expensive. Madam Speaker, we must do everything in our power to hold down the rising costs of insurance premiums, which includes ensuring healthy market competition. After all, competition is the driving force of economic prosperity. And even in the time of FDR and numerous Supreme Court decisions, it established the fact that there is a legitimate public policy interest in ensuring competition. But for over 65 years, the health insurance industry has played by a different set of rules, allowing them to engage in anticompetitive practices which drive up the costs of premiums. Well, this bill before us today will outlaw existing health insurance practices like price-fixing, bid-rigging, and market allocations that drive up costs for all Americans.…”