Schumer Pushes to Revoke Insurance Industry’s Anti-Trust Exemption

Days after the health insurance industry openly declared it will use the emerging health care reform overhaul as an excuse to raise premiums on millions of Americans, U.S. Senator Charles E. Schumer D-NY urged Wednesday that the legislation should include a new provision to revoke the industry’s anti-trust exemption. By virtue of the McCarran-Ferguson Act, passed by Congress in 1945, the insurance industry is one of only a handful of select industries in the United States, such as Major League Baseball and railroads, to be exempted from federal antitrust laws.

via Senator Charles E. Schumer.