Section 1 Short title
This Act may be cited as the “Health Insurance Industry Fair Competition Act”.
Health Insurance Industry Fair Competition Act
A BILL
To restore the application of the Federal antitrust laws to the business of health insurance to protect competition and consumers.
Sec. 2 Restoring the application of antitrust laws to health sector insurers
Amendment to McCarran-Ferguson Act— Section 3 of the Act of March 9, 1945 (15 U.S.C. 1013), commonly known as the McCarran-Ferguson Act, is amended by adding at the end the following:
“(c) Nothing contained in this Act shall modify, impair, or supersede the operation of any of the antitrust laws with respect to the business of health insurance. For purposes of the preceding sentence, the term “antitrust laws” has the meaning given it in subsection (a) of the first section of the Clayton Act, except that such term includes section 5 of the Federal Trade Commission Act to the extent that such section 5 applies to unfair methods of competition.”
Related Provision— For purposes of section 5 of the Federal Trade Commission Act (15 U.S.C. 45) to the extent such section applies to unfair methods of competition, section 3(c) of the McCarran-Ferguson Act shall apply with respect to the business of health insurance without regard to whether such business is carried on for profit, notwithstanding the definition of “Corporation” contained in section 4 of the Federal Trade Commission Act.