An amendment numbered 5 printed in House Report 112-416 to restore the application of antitrust laws to the business of health insurance by amending the McCarran-Ferguson Act.

1. Adds TITLE III--RESTORING THE APPLICATION OF ANTITRUST LAWS TO HEALTH SECTOR INSURERS at the end of the bill

   Adds a title

   Inserted: TITLE III--RESTORING THE APPLICATION OF ANTITRUST LAWS TO HEALTH SECTOR INSURERS

   Inserted: SEC. 301. SHORT TITLE.

   Inserted: This title may be cited as the "Health Insurance Industry Fair Competition Act of 2012".

   Inserted: SEC. 302. APPLICATION OF THE ANTITRUST LAWS TO THE BUSINESS OF HEALTH INSURANCE.

   Inserted: (a) 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:

   Inserted: "(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. For the purposes of this subsection, the term 'business of health insurance' shall--

   Inserted: "(1) mean 'health insurance coverage' offered by a 'health insurance issuer' as those terms are defined in section 9001 of the Patient Protection and Affordable Care Act, which incorporates by reference and utilizes the definitions included in section 9832 of the Internal Revenue Code (26 U.S.C. 9832); and

   Inserted: "(2) not include--

   Inserted: "(A) life insurance and annuities;

   Inserted: "(B) property or casualty insurance, including but not limited to, automobile, medical malpractice or workers' compensation insurance; or

   Inserted: "(C) any insurance or benefits defined as 'excepted benefits' under section 9832(c) of the Internal Revenue Code (26 U.S.C. 9832(c)), whether offered separately or in combination with products described in subparagraph (A).".

   Inserted: (b) 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.

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   Inserted: (c) Limitation on Class Actions.--

   Inserted: (1) Limitation.--No class action may be heard in a Federal or State court on a claim against a person engaged in the business of health insurance for a violation of any of the antitrust laws (as defined in section 3(c) of the Act of March 9, 1945 (15 U.S.C. 1013), commonly known as the McCarran-Ferguson Act).

   Inserted: (2) Exemption.--Paragraph (1) shall not apply with respect to any action commenced--

   Inserted: (A) by the United States or any State; or

   Inserted: (B) by a named claimant for an injury only to itself.

   Original wording

   At the end of the bill, add the following (and make such technical and conforming changes as may be appropriate):

Read automatically from the Congressional Record. Check the original before relying on it.

As printed