Newswise — Arlington, Va. – The American Chiropractic Association (ACA) applauds Congress for passing legislation that will promote fair competition in health insurance markets with the removal of a 75-year-old exemption that allowed these companies to avoid federal antitrust laws. The Competitive Health Insurance Reform Act (H.R. 1418) passed the House of Representatives and the Senate last year and was signed into law on Jan. 13.
“The American Chiropractic Association advocated for this important change for many years. The passage of this bill is an essential step toward increasing competition in health insurance markets and lowering prices for consumers,” said ACA President Robert C. Jones, DC.
H.R. 1418, bipartisan legislation introduced by Reps. Peter DeFazio (D-Ore.), Paul Gosar (R-Ariz.) and House Judiciary Committee Chairman Jerrold Nadler (D-N.Y.), repeals the McCarran-Ferguson Act, passed in 1945, which allowed health insurance companies that conducted business in more than one state to operate outside of federal antitrust laws established by the Sherman Act. Health insurers will now be subject to the same laws that other businesses are required to comply with and that prohibit unfair practices such as price fixing, price gouging, collusion and market allocations that hurt consumers.
“We’ve been close to getting this legislation passed by both chambers before,” adds John Falardeau, ACA senior vice president of public policy and advocacy. “Persistence has paid off, and health insurers will now have to abide by this country’s antitrust laws, an exemption they’ve held onto for far too long.”
More information about the new law is available on the ACA website.
About the American Chiropractic Association
The American Chiropractic Association (ACA) is the largest professional chiropractic organization in the United States. ACA attracts the most principled and accomplished chiropractors, who understand that it takes more to be called an ACA chiropractor. We are leading our profession in the most constructive and far-reaching ways — by working hand in hand with other health care professionals, by lobbying for pro-chiropractic legislation and policies, by supporting meaningful research and by using that research to inform our treatment practices. We also provide professional and educational opportunities for all our members and are committed to being a positive and unifying force for the practice of modern chiropractic. To learn more, visit www.acatoday.org, and connect with us on Facebook and Twitter.