Competitive Health Insurance Reform Act of 2017

Bill 115 HR 372, also known as the Competitive Health Insurance Reform Act of 2017, aims to amend the McCarran-Ferguson Act of 1945. This act currently exempts the business of insurance from federal antitrust laws, allowing insurance companies to engage in anti-competitive practices such as price-fixing and market allocation.

The Competitive Health Insurance Reform Act of 2017 seeks to remove this exemption for health insurance companies, making them subject to the same antitrust laws as other industries. This would increase competition in the health insurance market, potentially leading to lower premiums and better coverage options for consumers.

The bill was introduced by Representative Paul Gosar of Arizona and has garnered bipartisan support. Supporters argue that removing the antitrust exemption for health insurance companies will promote a more competitive marketplace and ultimately benefit consumers. Opponents of the bill argue that it could lead to increased litigation and regulatory burdens for health insurance companies, potentially driving up costs for consumers. However, proponents believe that the benefits of increased competition outweigh these potential drawbacks. Overall, the Competitive Health Insurance Reform Act of 2017 aims to level the playing field in the health insurance market and promote competition for the benefit of consumers. The bill is currently under consideration in the House of Representatives.