AMA finds lack of competition for medical insurance in Chicago area

A new study by the American Medical Association concludes there is an increasing lack of competition to provide medical insurance in the Chicago area, which allows insurance companies to dictate prices and benefits.

The Chicago metropolitan area is dominated by Blue Cross Blue Shield of Illinois, with 66 percent of the market, and WellPoint, with 13 percent, the AMA found. The study also found a lack of competition nationally.

America's Health Insurance Plans, representing the insurance industry, said while there has been consolidation among providers, consumers still have plenty of choices among health plans.