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4 things to know about the Competitive Health Insurance Reform Act

The U.S. House voted 416-7 to advance H.R. 372, the Competitive Health Insurance Reform Act of 2017 to the Senate.

Here are four things to know:

1. Paul Gosar, DDS, R-Ariz., introduced the bill with 20 cosponsors.

2. The act seeks to amend the McCarran-Ferguson Act of 1945 to restore federal antitrust laws to the insurance industry. The 1945 legislation allows payers to set sustainable premiums and share data between companies.

3. If implemented, the bill would prohibit price fixing, bid rigging and market allocation to increase competition and lower premiums.

4. President Donald Trump's administration issued a statement stating its support. The White House said if the bill is presented in its current form, the administration would recommend President Trump signs it into law.

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