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Pelosi, Senior Democrats' Remarks at News Conference on Repealing Health Insurance Industry Anti-Trust Exemption
Date:2/23/2010

oing on in the insurance industry, that phony studies were being made, that people were being denied on the flimsiest of excuses. We are so lucky that we have Wendell Potter and the Wendell Potters of this world, who will stand up when they see a wrong and help to right it. It is a great pleasure for me to introduce to you one of the great Americans of this time, Wendell Potter.

Mr. Potter. Thank you very much, Chairwoman and Madam Speaker. As someone who spent 20 years in the insurance industry, I can attest that this is very important legislation and I can say that it is both substantive and symbolic legislation. The insurance industry has enjoyed an exemption, as everyone has said, for 65 years. And that has contributed to a health care system that has become one of the most dysfunctional and one of the most expensive in the world. And this is time that the health insurance industry begins to abide by the same rules and regulations that every other industry in this country has to abide by.

And it is symbolic in that, I believe this in my view is the beginning of comprehensive reform that will benefit average Americans, working individuals and families more than the big insurance companies and their partners and their allies. And over the 20 years that I was in the industry, I saw competition vanish. We have seen so many mergers and acquisitions over the years that industry now is dominated by a cartel of about seven very large health insurance companies, all of them for profit.
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SOURCE Office of the Speaker of the House
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