Congressman Gregory W. Meeks Hails Repeal of Antitrust Exemption for Health Insurance Companies

(WASHINGTON, DC)– Congressman Gregory W. Meeks of New York hailed legislation that passed the House of Representatives today repealing the antitrust exemption for health insurance companies. “I believe that this is an important step toward fostering competition in the insurance market thereby reducing costs for consumers,” remarked Meeks.

Meeks added, “I am pleased that we were able to achieve this monumental legislation, which puts the interests of families ahead of corporations, in an overwhelmingly bipartisan fashion. It is long overdue.” H.R. 4626, the Health Insurance Industry Fair Competition Act, easily passed the House of Representatives by a margin of 406-19.

The antitrust exemption for insurance companies was originally promulgated in 1945 during the Second World War as part of the McCarran-Ferguson Act. Under McCarran-Ferguson, health insurers were allowed to collude on prices without scrutiny from federal antitrust regulators that face most other businesses in the United States.

Now serving in his sixth full-term, Meeks was elected to the House on February 3, 1998. Representing New York's Sixth Congressional District in the United States House of Representatives, Meeks' district covers all towns of Southeast Queens, Far Rockaway and Howard Beach. He is a member of the House Committee on Financial Services and the Committee on Foreign Affairs. Congressman Meeks is the Chairman of the International Monetary Policy & Trade Subcommittee of the House Financial Services Committee. He is a Member of the Congressional Black Caucus (CBC), New Democrats Coalition and the Democratic Leadership Council (DLC). He serves as the Co-chair of the Malaysia Caucus, Services Caucus, Dialogue Caucus, OAS Caucus and the Middle East Economic Partnership Caucus.