March 03,2008

Baucus, Finance to Meet Insurance Leaders on Marketing

Washington, DC – Senate Finance Committee Chairman Max Baucus (D-Mont.) intends for
members of the panel to meet on Tuesday with leaders of the nation’s major health insurance
companies, in an effort to end unscrupulous marketing practices that snare seniors into unwanted or unneeded private Medicare plans. Last month, Baucus announced his intention to legislate bans on several unscrupulous and predatory marketing activities in his Medicare reform
legislation this year. The Association of Health Insurance Plans is considering a number of self regulatory measures to stop unscrupulous marketing by plan agents on the ground, but Baucus says the Committee must be sure that seniors are sufficiently protected.

“The insurance companies are showing some willingness to crack down on unscrupulous marketing by their own folks, and I am glad to see it. But Finance Committee members
have heard too many stories of seniors being pressured and prodded and ripped off not to follow up,” Baucus said. “I believe legislative action and strong oversight will be key to
cleaning up this problem. I hope this meeting will be the start of a strong, collaborative
effort to protect American seniors from these shady marketing tactics.”

FOR PLANNING PURPOSES: This 10:00 a.m. meeting is closed to press, but meeting
participants may hold a brief media availability outside the Senate Finance Committee hearing
room (Dirksen Senate Office Building Room 215) immediately following the discussion.
Please see information on the Finance Committee’s February 7 and February 13 hearings on
marketing of private Medicare plans at http://finance.senate.gov/

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