DSST Business Ethics and Society-Study Guide 2

A famous example of antitrust legislation intended to

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A famous example of antitrust legislation, intended to prevent individual companies or groups of companies from gaining control of markets in ways that restrain competition or harm consumers. Such regulations sought to break up the power of huge companies such as Standard Oil Endangered Species Act - Administered by two federal agencies, the United States Fish & Wildlife Service (FWS) and the National Oceanic & Atmospheric Administration (NOAA). It protects not only the endangered species themselves, but the habitats they live in. Clinton health care plan was a 1993 healthcare reform package proposed by the administration of President Bill Clinton and closely associated with the chair of the task force devising the plan, Hillary Clinton. The task force was created in January 1993, but its own processes were somewhat controversial and drew litigation. Its goal was to come up with a comprehensive plan to provide universal health care for all Americans, which was to be a cornerstone of the administration's first-term agenda. The core element of the proposed plan was an enforced mandate for employers to provide health insurance coverage to all of their employees through competitive but closely-regulated health maintenance organizations. The Clinton health plan required each US citizen and permanent resident alien to become enrolled in a qualified health plan and forbade their disenrollment until covered by another plan. It listed minimum coverage and maximum annual out-of-pocket expenses for each plan. It proposed the establishment of corporate "regional alliances" of health providers to be subject to a fee-for-service schedule. People below a certain set income level were to pay nothing. Why did the Clinton health care proposal fail? There were obviously many immediate political factors: intense partisan opposition, a strong effort by the insurance lobby, and a “combative and secretive strategy” by the Clinton administration, among others. Such factors, no doubt, contributed to problems. But these answers overlook a key factor: the expansion of HMOs began to effectively rein in rising health care costs. This sent a signal to many businesses that had favored – and even advocated for – health care reform that the insurance industry was reforming itself and controlling costs through managed care. Consequently, these businesses backed off from their previous advocacy for reform. This loss of strong support was very significant and affected the political debate, resources behind the political battle, and ultimately affected public opinion because some of the voices in favor of an expanded government role (including an employer mandate to provide employees with health insurance) weakened or disappeared. The
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A famous example of antitrust legislation intended to...

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