ICYMI: AP Reports on What Experts Have to Say About Repealing McCarran-Ferguson
Posted by The Campaign on October 23, 2009 at 7:18 AM
AP business writer, Matthew Perrone, reports on what healthcare industry analysts and legal scholars say will be the outcome of repealing Mccarran-Ferguson. Take a look at some key excerpts:
"...lawmakers are seeking to stir up competition by stripping health insurers of their protection from certain federal antitrust laws, although experts shrug off the effort as largely symbolic."
"Some observers suggest the move by Democrats is mainly a reprisal against the insurance industry group, America's Health Insurance Plans, which last week launched an unexpected attack against the health care legislation drafted by the Senate Finance Committee, saying it would drive up premiums for consumers."
"But industry analysts say courts have long limited the scope of the exemption to allow federal regulators to intervene in instances where competition could be jeopardized. They note the law has never stopped regulators at the Department of Justice and the Federal Trade Commission from intervening in a merger or acquisition."
"While the threat to repeal the exemption makes for good headlines, we can't really see how it alters the business for the established publicly traded players,’ wrote JPMorgan analyst John Rex in a note to investors."
For the full article, click here.
