Monday, March 1, 2010

Perriello to Insurance Companies: Be Afraid, Be Very Afraid

Among the things that slipped through the cracks last week while I was too busy to blog about anything was a huge legislative victory by Congressman Perriello. Tom co-sponsored a bill to end antitrust exemptions for insurance companies; that bill passed with overwhelming bipartisan support in the House. Since 1945, health insurance companies have enjoyed an exemption from antitrust regulations, allowing them to collude and fix prices while reaping billions of dollars in profits. The only other industry that enjoys similar antitrust exemptions is Major League Baseball.

Well, if Tom's bill gets through the Senate, then the insurance companies may finally have to play by the same rules as the rest of America's companies. Tom addressed the health insurers in his floor speech:

"Be afraid. Be very afraid." I do believe our congressman is a badass.

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