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Ending Monopolies May Make Health Insurance Affordable

Armen Hareyan's picture

Democratic party's loosing its super majority after the MA election is not the end for reforming the health care and making insurance affordable. Yesterday the president announced a plan to meet with the Democrats and Republicans and the TV cameras to discuss the best ideas that will make health care accessible and insurance affordable for all Americans. This news was well received by the public and both sides of the political spectrum. In the meanwhile, Health Secretary Kathleen Sebelius said this morning that Obama is willing to "add various elements" to health care legislation suggested by Republicans during this upcoming meeting.

Consumers around the nation already wonder if there is such a thing as affordable health insurance. There may be not, but there are things that can be done to make the coverage affordable. One of them is removal of the barriers that protect health insurance provider monopolies.

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It seems that this is what the Democrats are intending to do next. The approach may be to deal with health care reform piece by piece.

According to SCPR this week the Democrats intend to introduce that first piece, which is a legislation that aims to end the anti-trust exemption for health insurance providers. This will virtually end the health insurance monopolies. When the monopolies are gone usually the premiums for the coverages come down and the public benefits from it.

The good news is that there is support for ending the legislation that allows health insurance companies to operate as monopolies from the both parties. Congressman Xavier Becerra from Los Angeles, who is the vice chair of the House Democratic Caucus, says while this is not a comprehensive reform "anything that gives an average American a fighting chance against an insurance company when it comes to getting the health care he or she has paid for, I think the American public will appreciate."

There are two questions left. How low the health insurance premiums can go after this legislation is passed. The second issue is when will the public see the positive effects of this insurance anti-trust removal.