To restore the application of the Federal antitrust laws to the business of health insurance to protect competition and consumers.

Health Insurance Industry Fair Competition Act This bill amends the McCarran-Ferguson Act to declare that nothing in that Act modifies, impairs, or supersedes the operation of antitrust laws with respect to the business of health insurance. This declaration does not apply to a contract, combination, or conspiracy to: (1) collect, compile, or disseminate historical loss data; (2) determine a loss development factor for historical loss data; or (3) perform actuarial services if the collaboration does not involve a restraint of trade. Prohibitions against unfair methods of competition apply to the business of health insurance without regard to whether the business is for profit.