JFlorio Loc: Seminole Florida

Since you are an Attorney I wonder if you could answer a question? How do health insurers (actually the entire industry) not get sued in a class action for being a monopoly and or non-transparent? I mean how can an industry that does not post charges for goods or services get away with this? Thus eliminating competition. No other industry I know of can do this.

lindajoy Loc: right here with you....

The governing body of laws apply with Congressional oversight~~ Tells you right there we're in trouble...Specifically:
The McCarran–Ferguson Act, 15 U.S.C. §§ 1011-1015, is a United States federal law that exempts the business of insurance from most federal regulation, including federal antitrust laws to a limited extent. The McCarran–Ferguson Act was passed by the 79th Congress in 1945 after the Supreme Court ruled in United States v. South-Eastern Underwriters Association that the federal government could regulate insurance companies under the authority of the Commerce Clause in the U.S. Constitution and that the federal antitrust laws applied to the insurance industry.

The Act was sponsored by Senators Pat McCarran (D-Nev.) and Homer Ferguson (R-Mich.).

The McCarran–Ferguson Act does not itself regulate insurance, nor does it mandate that states regulate insurance. It provides that "Acts of Congress" which do not expressly purport to regulate the "business of insurance" will not preempt state laws or regulations that regulate the "business of insurance."

Specifically with respect to federal antitrust laws it exempts the "business of insurance" as long as the state regulates in that area, with the proviso that cases of boycott, coercion, and intimidation remain prohibited regardless of state regulation. By contrast, most other federal laws will not apply to insurance whether the states regulate in that area or not....

The regulators (think Dept.of Insurance here) practice strict price control called "rate regulation" and can deny or approve any rate change. The statute typically states that rates shall not be inadequate or excessive, as inadequate rates increase the risk of bankruptcy and excessive rates are regarded as unfair. A similar statute may prohibits "unfair discrimination" in rates, which is intended to prohibit discrimination which is not based upon a difference in risk...

Quotes of premium is considered "transparency" because you can shop around with other carries for a better price..

This is a very basic answer for you because really there is so much more involved.. The real answer is found in Congressional over sight where there really isn't any!! How about them apples??? Along of course with a very studious lobbying by and of the Insurance Industry..

lindajoy Loc: right here with you....

My reply is so incomplete to you I had to add a little more..

Insurance companies have been sued, for unfair business practises, unfair ratings and anti trust laws etc...
This division handles those issues and too many confirmed violations can put a company out of business too..

https://www.ftc.gov/enforcement/anticompetitive-practices

As an example for you here's a limited query of some of the things insurance regulators monitor or are involved in.

Independent Association of Businesses Refunds
March 2016 Health Insurance REFUNDS FOR VICTIMS OF A HEALTH INSURANCE SCAM The FTC is mailing refund checks to people who paid the Independent Association of Businesses (IAB) for comprehensive health insurance that promised to cover virtually every ...

Whitfield v. Radian Guaranty, Inc
March 14, 2006 05-5017 U.S. Circuit Court of Appeals for the Third Circuit In this amicus brief supporting consumers a case under Fair Credit Reporting Act ("FCRA"), the The Commission argues that the district court erred in holding that a ...

1601002 Informal Interpretation
January 15, 2016 7A(c)(1), 802.1, 802.4 Kate Walsh 7A(c)(1) (not 802.1) may exempt insurance company transactions involving the acquisition of portfolios of insurance policies, if the target will continue to sell insurance policies. If the transaction is ...

Is that health insurance website for real?
Shopping for health insurance online? Before making your final purchase – read on. Health insurance scams have been preying on vulnerable consumers through websites selling medical discount plans. According to the complaint in a recent case FTC settlement ...

0506004 Informal Interpretation
June 8, 2005 801.10 Michael Verne- Agree Original Image File (81.37 KB) June 8, 2005 Mr. B. Michael Verne Premerger Notification Office Bureau of Competition Federal Trade Commission 600 Pennsylvania Avenue, N.W. Washington, DC 20580 Re: 16 CFR 801 10: ...

1501002 Informal Interpretation
January 15, 2015 Form Item 5 – Insurance Premiums Susan Pope the PNO still uses net written premiums as the revenue figure for Item 5. Original Image File From: Pope, Susan H. Sent: Thursday, January 15, 2015 1:02 PM To: (Redacted) Cc: (Redacted), Walsh, ...

The Effect of Hospital Mergers on Inpatient Prices: A Case Study of the New Hanover-Cape Fear Transaction
January 2009 Aileen Thompson 295 The Federal Trade Commission initiated a Hospital Merger Retrospective Project in 2002 to analyze the effects of consummated mergers. One of the mergers studied was the 1998 acquisition by New Hanover Regional Medical ...

Announced Action for January 23, 2004
For Your Information January 23, 2004 Commission authorization of the staff to file amicus brief: The Commission has authorized the staff of the FTC’s Office of General Counsel to file an amicus brief in the matter of Rausch et al. v. The Hartford ...

Taking Health Care Scams Off the Market
Starting October 1, people will have new ways to buy health insurance under the Affordable Care Act. As opening day approaches, the media will no doubt carry more stories about the Health Insurance Marketplace, how to enroll, and where to get legitimate ...

Announced Action for February 24, 2004
For Your Information February 24, 2004 Commission approval of amicus brief filing: The Commission has approved the filing of an amicus brief in Willes v. State Farm Fire and Casualty Co., et al. No 03-35848 (9th Cir.). At issue in this case is whether an ...

8905004 Informal Interpretation
May 1, 1989 May 1989 7(A)(c)(5) Patrick Sharpe 8905004 I concur (PS) 5-30-89 C-5 not applicable Original Image File (70.29 KB) (redacted) FEDERAL EXPRESS Premerger Notification Office Bureau of Competition Federal Trade Commission 600 Pennsylvania Avenue, ...

Consumer Reports: What Insurers Need to Know
When using credit reports to consider whether to underwrite policies, insurers must comply with the Fair Credit Reporting Act. Table of Contents: Introduction Insurer Obligations Getting and Using Medical Information Adverse Action Notice Disposing of ...

Medical Information Bureau

JFlorio Loc: Seminole Florida

Oh my gosh lindajoy you overwhelmed me. Especially with 4 hours at Angry Peppers and 4 hours at the American Legion on the water in Madeira Beach. In other words with out getting too specific it looks like the politicians have been protecting (quid pro quo) the health insurance industry forever.

lindajoy Loc: right here with you....

Nailed it you did!!
And son of a gun, what a beautiful day you describe!!! So very glad you were out playing and enjoying!!

I suspect the American Legions had a jam up day in recognition of our fallen!!!

I was invited to a 21 gun salute in the park and what an amazing moment as taps was broadcasted over loud speakers and men from each military branch walked with our flag reaching the center where 4 jets flew over and the guns went off.. people cheered some cried and I don't know how many balloons red, white and blue were released.. a moment of silence was called by the minister in attendance and then it was done... Never finished, J, but done for the moment...

Now let's talk about Angry Peppers, lolol know it well !! Nothing like a libation on the water and some great BBQ although I always got fish of the day... Ambience outstanding being right on the water view of all times!!!ya dang brat!!! Ohh and what a great way to get some sun too..

Is the Daiquiri Shak still there?? Another place I liked..Had live bands for holidays and weekends, great oysters, fresh fish of course too.. ohhh geez July won't get here quick enough!!!

JFlorio Loc: Seminole Florida

Oh yea. The shack is still up and running. Some of the best bands you never heard of are there on weekends.

lindajoy Loc: right here with you....

Always had great bands when I went too.. Top kicken butt bands and they mixed them up too on genre I mean..

I envy you, do you go often?? Nooooo, don't tell me...lolol

Molly2399 Loc: Ohio

Let's face it. The Obamas administration screwed us over with the help of the Dems and the weak republicans. If and when the Republicans tell the insurance companies to take a hike. How much of congress and the senate get from the medical lobbyists is what should be investigated. Not the other
investigations which are going nowhere.

I still believe Medicaid should go back to the states. They are better equipped to weed out the fakes because this will be coming out of their pockets and the populace will be the ones to get on their case.

CounterRevolutionary

Everything you write is so basic. The real reason the Democrats advanced Obamacare was to destroy the health insurance industry completely and push the Public Option as the only alternative. That way, the federal government can control who lives and who dies. It's that simple.

lindajoy Loc: right here with you....

That's about the truth!!!! And it is that simple..