Congress is pushing to break up the nation's biggest insurance monopolies after UnitedHealthcare CEO Brian Thompson's murder last week

Congress is moving to dismantle major insurance monopolies following the murder of UnitedHealthcare CEO Brian Thompson, an event that has fueled public outrage.

According to the New York Times, two bipartisan bills aim to mandate that insurers and healthcare companies divest their pharmacy benefit managers (PBMs)—entities that administer prescription benefits for employees—within three years.

The Senate version, called the Patients Before Monopolies Act, is sponsored by Senators Elizabeth Warren (D-MA) and Josh Hawley (R-MO). A companion bill has been introduced in the House of Representatives.

Although the bills do not specifically name companies, the NYT reports that UnitedHealth Group, parent company of UHC and PBM Optum Rx, along with CVS' Caremark and Cigna's Express Scripts, collectively manage 80% of all U.S. prescriptions.

These bills are the first legislative proposals targeting the insurance industry in the wake of Thompson’s assassination. Luigi Mangione, the suspect in Thompson’s murder, left behind a handwritten manifesto criticizing the healthcare system and claiming insurance executives like Thompson were “parasites” who “had it coming.”

While lawmakers introducing the bills have not referenced Mangione or Thompson in their official statements, Senator Warren hinted in a recent HuffPost interview that the public reaction to the CEO's killing has exposed widespread frustration.

“The visceral response from Americans who feel cheated, exploited, and endangered by the unethical practices of their insurance providers is a wake-up call for the entire healthcare system,” Warren stated. She condemned violence but added, “People can only be pushed so far.”

The bills' prospects for passage remain uncertain, particularly given the limited time left in the current Congressional session. However, the introduction of such legislation marks a significant development in the debate over healthcare reform.

The timing, so soon after Thompson's death, underscores the urgency and controversy surrounding these proposals.