Washington, D.C. – House Judiciary Committee Ranking Member John Conyers, Jr. (D-MI) today released the following statement after the Subcommittee on Regulatory Reform, Commercial and Antitrust Law concluded a hearing that examined proposed health insurance mergers and the possible consequential impact on marketplace competition:
|Dean of the U.S. House|
John Conyers, Jr.
“Currently, we already have highly concentrated health insurance markets as highlighted recently in an updated study by the American Medical Association (AMA). Further consolidation of multi-billion dollar health insurance companies could result in higher premiums and reduced quality care. Moreover, healthy competition in the marketplace also allows physicians to bargain for enhanced contract terms that relate to all angles of patient care and services.
“In 2010, in my home state of Michigan, the U.S. Department of Justice challenged a potential merger by Blue Cross Blue Shield with an in-state health insurer claiming that the deal would greatly reduce competition for the people of Michigan that would have increased premiums across the board.
“As we have always seen in our economy, healthy competition in the marketplace ensures lower premiums and provides incentives to insurers to increase the quality of service and care, and pay physicians on time. I encourage the Department of Justice to scrutinize these potential mergers carefully.”
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