OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Providing For Consideration Of H.R. 4626, Health Insurance Industry Fair Competition Act

Floor Speech

Date: Feb. 24, 2010
Location: Washington, DC
Issues: Health and Health Care

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I thank the gentlewoman from Maine for yielding the time. I also want to salute the chairwoman of the Rules Committee, Ms. Slaughter, who has been a champion for American families when it comes to standing up for their needs, especially in health care.

Mr. Speaker, I rise in strong support of H.R. 4626, the Health Insurance Industry Fair Competition Act, and the underlying rule. It is time for policymakers in Washington to determine whose side are they on; are they on the side of the health insurance companies or are they on the side of American families and small businesses?

I urge my colleagues to stand up for hardworking families across America and pass this Health Insurance Industry Fair Competition Act today because the state of the current law is unfair. Health insurance companies currently enjoy an exemption from antitrust laws with no good justification. Meanwhile, American families are held hostage to rising health care costs and a nagging insecurity that even though they pay their premiums and they pay their copays, they could be canceled at any time, even when they get sick, or they're going to have to fight through the red tape to get the benefits they're entitled to.

Last year, the five largest health insurance companies made a record $12.2 billion profit, a 56 percent jump, while dropping coverage for 2.7 million Americans. Health insurers appear to be cherry-picking who they will cover in order to make a huge profit.

In my home State of Florida, from 2000 to 2007, health care premiums for families rose on average by 72 percent; meanwhile, their paychecks only went up 20 percent during the same time. So our action in removing the antitrust exemption will spur fair prices and real competition.

Again, it's time to choose; whose side are you on? Who will we protect, American families or the health insurance companies? The answer is clear: No more favors to private insurance companies.

I urge a ``yes'' vote on the rule and on the underlying bill.

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