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Release date 09/22/2015
WASHINGTON, DC – George Slover, senior policy counsel for Consumers Union, the policy and advocacy division of Consumer Reports, will testify today in a Senate Judiciary subcommittee hearing on the consumer need for balanced, healthy competition in the health insurance market. The hearing, focusing on the consumer impact of consolidation in the health insurance industry, comes in the wake of two proposed merger announcements between Anthem/Cigna and Aetna/Humana that would reduce the number of major, national insurance companies from five to three.
Consumers Union’s testimony warns of the harms that could come from these mega-mergers, closing off choices that consumers want, while increasing costs and lowering quality of care.
“Insurers play a key role in helping make the health care system work for consumers, but we have serious concerns that a market dominated by a few, powerful companies could force doctors and hospitals to go beyond trimming costs – demanding cuts that may begin to degrade the care and service provided to below what consumers need and value,” said Slover.
The consumer group also urges lawmakers and regulators alike to be skeptical of industry claims that giving insurance companies more market power will offset the market power of hospital and doctor groups, which have also seen increased concentration.
“The solution to too much provider power is not to give health insurers their own market power and then hope they’ll take care of consumers. The actual result will just be more market power for insurers and providers, while everyone else – from consumers to smaller hospitals and local clinics – are left to deal on their own,” said Slover. “We want providers to be motivated to look for ways to lower rates without cutting corners, rather than being forced to cut services down to the bone in order to survive. That’s the difference between responding to true competition in the market versus knuckling under to a market dictator.”
For a full copy of the testimony, contact Kara Kelber. The hearing before the Senate Judiciary Antitrust Subcommittee is scheduled for 10 a.m. on Tuesday, September 22. For more information, please visit www.judiciary.senate.gov.
Media Contact:
Kara Kelber. Consumers Union, 202.462.6262 or kkelber@consumer.org
Consumer Reports is a nonprofit membership organization that works side by side with consumers to create a fairer, safer, and healthier world. For 80 years, CR has provided evidence-based product testing and ratings, rigorous research, hard-hitting investigative journalism, public education, and steadfast policy action on behalf of consumers’ interests. Unconstrained by advertising or other commercial influences, CR has exposed landmark public health and safety issues and strives to be a catalyst for pro-consumer changes in the marketplace. From championing responsible auto safety standards, to winning food and water protections, to enhancing healthcare quality, to fighting back against predatory lenders in the financial markets, Consumer Reports has always been on the front lines, raising the voices of consumers.
© 2015 Consumer Reports. The material above is intended for legitimate news entities only; it may not be used for advertising or promotional purposes. Consumer Reports® is an expert, independent, nonprofit organization whose mission is to work side by side with consumers to create a fairer, safer, and healthier world. We accept no advertising and pay for all the products we test. We are not beholden to any commercial interest. Our income is derived from the sale of Consumer Reports® magazine, ConsumerReports.org® and our other publications and information products, services, fees, and noncommercial contributions and grants. Our Ratings and reports are intended solely for the use of our readers. Neither the Ratings nor the reports may be used in advertising or for any other commercial purpose without our prior written permission. Consumer Reports will take all steps open to it to prevent unauthorized commercial use of its content and trademarks.
Consumer Reports is a nonprofit membership organization that works side by side with consumers to create a fairer, safer, and healthier world. For 80 years, CR has provided evidence-based product testing and ratings, rigorous research, hard-hitting investigative journalism, public education, and steadfast policy action on behalf of consumers’ interests. Unconstrained by advertising or other commercial influences, CR has exposed landmark public health and safety issues and strives to be a catalyst for pro-consumer changes in the marketplace. From championing responsible auto safety standards, to winning food and water protections, to enhancing healthcare quality, to fighting back against predatory lenders in the financial markets, Consumer Reports has always been on the front lines, raising the voices of consumers.
© 2015 Consumer Reports. The material above is intended for legitimate news entities only; it may not be used for advertising or promotional purposes. Consumer Reports® is an expert, independent, nonprofit organization whose mission is to work side by side with consumers to create a fairer, safer, and healthier world. We accept no advertising and pay for all the products we test. We are not beholden to any commercial interest. Our income is derived from the sale of Consumer Reports® magazine, ConsumerReports.org® and our other publications and information products, services, fees, and noncommercial contributions and grants. Our Ratings and reports are intended solely for the use of our readers. Neither the Ratings nor the reports may be used in advertising or for any other commercial purpose without our prior written permission. Consumer Reports will take all steps open to it to prevent unauthorized commercial use of its content and trademarks.