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Study: 80 percent of U.S. health insurance markets contain monopoliesPosted On Mon, October 31, 2011
A recent study from the American Medical Association found that four of every five metropolitan areas are dominated by one or two companies, making the market uncompetitive.
This finding could show that consumers may be prevented from being able to obtain affordable health insurance quotes.
In half of the states examined, the two most prominent health insurance companies covered seven out of every 10 consumers, the study noted. In half of the metropolitan areas, one company had approximately half of the total coverage share.
"New data presented by the AMA demonstrates the degree of anti-competitive market clout that some health insurers have gained through mergers and acquisitions," said Peter Carmel, president of AMA. "Our new report is intended to help regulators, lawmakers, researchers and policymakers identify markets where mergers among health insurers may cause competitive harm to patients, physicians and employers."
Americans who want sufficient health insurance should go out of their way to not settle for one deal. By comparing health insurance rates, a consumer may find the best deal for them.
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