Comer Opens Probe into FTC Regulation of Vision Care Market

Press Release

"According to recent reports, two companies control 85 percent of the market share of the stand-alone vision insurance plans. In fact, in 42 states one company, controls at least a plurality of the vision insurance plan market. In 28 states a single company controls more than 75 percent of the vision insurance plan market, raising serious concerns about the potential for increased costs to consumers."

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"Concerns over consolidation in the vision insurance market are not limited to stand-alone vision care plans. One company, VSP Vision Care (VSP), provides vision insurance for 82 million Americans nationwide. […] Several vision insurers have also sought to vertically consolidate, creating their own brick-and-mortar retail stores providing favorable copays and pricing to steer consumers to their stores and away from their competitors. Additionally, many of these insurers own lens and frame manufacturers enabling them to mark up prices by as much as 1,000 percent."

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