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Member, Beacon International Group, Ltd.
WASHINGTONTen insurance trade groups have written a letter to House members that expresses concern about provisions in the Affordable Health Care for America Act that would affect property/casualty and health insurers.
In their Friday letter, the groups said they strongly oppose two provisions in particular. One “would permit the Federal Trade Commission…to prepare studies and reports on the entire insurance industry,” while the other would repeal the limited antitrust exemption in the McCarran-Ferguson Act for health and medical malpractice insurance.
“As the bill’s title implies, its goal should be to address issues of health care coverage and affordability,” the groups wrote. “This purpose is not served by allowing the FTC to investigate all lines of insurance (which is the job of state insurance regulators). It is also not served by limiting the protections the McCarran-Ferguson Act provides for pro-competitive insurance activities that are subject to scrutiny by state insurance regulators, especially those that facilitate greater market access by medical malpractice insurers.”
“As the full Senate begins its consideration of health care reforms, the P/C industry hopes that senators will remain focused on the goals of the legislation: lowering the costs of and increasing access to health care,” the groups said in a Monday statement accompanying the public release of their letter.
The letter was signed by the American Insurance Assn., the Council of Insurance Agents & Brokers, the Financial Services Roundtable, the Independent Insurance Agents & Brokers of America, the National Assn. of Insurance and Financial Advisors, the National Assn. of Mutual Insurance Cos., the National Assn. of Professional Insurance Agents, the Physician Insurers Assn. of America, the Property Casualty Insurers Assn. of America and the Reinsurance Assn. of America.