Who Do You Antitrust, Baby?

The House overwhelmingly passed a bill designed to remove the antitrust exemption for insurance companies.  naturally it means the bill has zero chance in the Senate.

The vote was 406-19, with most Republicans siding with majority Democrats against a widely unpopular industry which has been under attack by Democrats and consumer advocates for recent rate hikes.

Republican lawmakers complained, though, that the legislation passed Wednesday was largely symbolic and would have little real impact since states already regulate health insurers.

Independent experts largely share that view. Democrats, however, contended that the bill would help consumers by increasing competition.

Prospects are dim in the Senate.

Of course they are.  It's not like the Senate would ever pass progressive legislation, even bipartisan legislation that got nearly 90% of the House to vote for it.

It won't even get a majority, because it's much easier to buy a Senator that it is a Representative.  If it's symbolic, then the insurance companies won't mind doing it.  It's not symbolic, which is why the Senate will kill it.

Guaranteed.

We must protect our nation's precious insurance companies.

[UPDATE 4:25 PM] Anthem Blue Cross of California today basically told California lawmakers that hiking their rates as much as 39% was legal, and that the people of California need to simply deal with it or find a new insurer.

The health committee's chairman, Assemblyman Dave Jones (D-Sacramento), called the Anthem hikes "astonishing" as he renewed his call for the state to regulate health insurance rates the way it limits increases for auto and property insurance.

"Are you planning to go forward with the rate increases?" Jones asked executives from Anthem and Wellpoint during Tuesday's hearing in Sacramento.

James Oatman, WellPoint's vice president and general manager of individual business, responded: "We believe the rate increase we have applied for is consistent with all the laws of the state of California. We are advocating that those rates are appropriate rates."

So, a 39% rate hike is "appropriate" for the largest single state insurance market in the country.  But we don't need health care reform.