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Thread: Obama health plan would curb insurers on rate hikes

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    Obama health plan would curb insurers on rate hikes

    Obama health plan would curb insurers on rate hikes - latimes.com

    Reporting from Washington - President Obama's new healthcare overhaul plan would give the federal government greater authority to stop rate increases imposed by health insurers, an administration official said late Sunday.

    The proposal, to be posted on the White House website Monday, would give the Health and Human Services secretary power to block premium increases that were deemed excessive.

    It also would set up a panel of experts charged with evaluating the healthcare market each year and determining what would constitute a reasonable rate increase. The board's members would include consumers, doctors, economists and insurers.

    Under the president's plan, rate increases outside the reasonable boundaries established by the board could be overruled by the HHS secretary, who would also have the power to require the insurer to revise its proposed rate changes or to order rebates for customers who overpaid.
    Because this worked soooooo well when we did it with oil.

    Seriously, this is absolutely appalling. Oh hey, what was that about this not being a government take-over?

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    Obama to Urge Oversight of Insurers� Rate Increases

    WASHINGTON — President Obama will propose on Monday giving the federal government new power to block excessive rate increases by health insurance companies, as he rolls out comprehensive legislation to revamp the nation’s health care system, White House officials said Sunday.

    +_++_

    The president’s bill would grant the federal health and human services secretary new authority to review, and to block, premium increases by private insurers, potentially superseding state insurance regulators. The bill would create a new Health Insurance Rate Authority, made up of health industry experts that would issue an annual report setting the parameters for reasonable rate increases based on conditions in the market.

    Officials said they envisioned the provision taking effect immediately after the health care bill is signed into law.

    The legislation would call on the secretary of health and human services to work with state regulators to develop an annual review of rate increases, and if increases are deemed “unjustified” the secretary or the state could block the increase, order the insurer to change it, or even issue a rebate to beneficiaries.

    The new rate board would be composed of seven members, including consumer representatives, an insurance industry representative, a physician and other experts such health economists and actuaries, the White House said. The board’s annual report would offer guidance to the public and states on whether rate increases should be approved.
    Obama to Urge Oversight of Insurers’ Rate Increases - NYTimes.com

    Remember folks it's not Government taking over anything, just the Government protect you poor, hapless, helpless victims of greedy money mad evil people.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Obama to Urge Oversight of Insurers� Rate Increases

    Quote Originally Posted by MrVicchio View Post
    Obama to Urge Oversight of Insurers’ Rate Increases - NYTimes.com

    Remember folks it's not Government taking over anything, just the Government protect you poor, hapless, helpless victims of greedy money mad evil people.
    With the insanity and unethical practices in the insurance industry, this is one regulation that I completely agree with.
    "Never fear. Him is here" - Captain Chaos (Dom DeLuise), Cannonball Run

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    This is what I hate about politics the most, it turns people in snobbish egotistical self righteous dicks who allow their political beliefs, partisan attitudes, and 'us vs. them' mentality, to force them to deny reality.

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    See with you around Captain we don't even have to make arguments, as you already know everything .
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    Re: Obama to Urge Oversight of Insurers� Rate Increases

    Quote Originally Posted by MrVicchio View Post
    Obama to Urge Oversight of Insurers’ Rate Increases - NYTimes.com

    Remember folks it's not Government taking over anything, just the Government protect you poor, hapless, helpless victims of greedy money mad evil people.
    Yup.

    And they did that with lowering the home loan requirements.

    How's that worked out for us?
    Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.

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    Re: Obama to Urge Oversight of Insurers� Rate Increases

    Quote Originally Posted by CaptainCourtesy View Post
    With the insanity and unethical practices in the insurance industry, this is one regulation that I completely agree with.
    I do not understand how anyone with even the loosest grasp of economics could support this.

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    Re: Obama to Urge Oversight of Insurers� Rate Increases

    Quote Originally Posted by Dav View Post
    I do not understand how anyone with even the loosest grasp of economics could support this.
    And I do not understand how anyone with the loosest understanding of the insurance industry could not.
    "Never fear. Him is here" - Captain Chaos (Dom DeLuise), Cannonball Run

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    Quote Originally Posted by Wiseone View Post
    This is what I hate about politics the most, it turns people in snobbish egotistical self righteous dicks who allow their political beliefs, partisan attitudes, and 'us vs. them' mentality, to force them to deny reality.

    Quote Originally Posted by Navy Pride View Post
    You can't paint everone with the same brush.......It does not work tht way.


    Quote Originally Posted by Wessexman View Post
    See with you around Captain we don't even have to make arguments, as you already know everything .
    Quote Originally Posted by CriticalThought View Post
    Had you been born elsewhere or at a different time you may very well have chosen a different belief system.
    Quote Originally Posted by ernst barkmann View Post
    It a person has faith they dont need to convince another of it, and when a non believer is not interested in listening to the word of the lord, " you shake the dust from your sandels and move on"

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    Re: Obama to Urge Oversight of Insurers� Rate Increases

    Quote Originally Posted by texmaster View Post
    Yup.

    And they did that with lowering the home loan requirements.

    How's that worked out for us?
    Not to mention with oil under Nixon. This crap doesn't work in theory, it doesn't work in practice, and it's shameful that it's even being considered.

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    Re: Obama to Urge Oversight of Insurers� Rate Increases

    Any industry that makes its money by denying service to those who have paid for such service needs regulation.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Obama to Urge Oversight of Insurers� Rate Increases

    Quote Originally Posted by texmaster View Post
    Yup.

    And they did that with lowering the home loan requirements.

    How's that worked out for us?
    This doesn't make sense. The real problem wasn't the housing industry. It was the leveraging within the financial industry and securitization of the mortgages that was the real mess. Housing alone is too small a part of the economy to have caused this. What totally failed was lack of any regulation on the rating industry. When Moody's rated known C grade mortgages as As because it got them the business of rating over S&P's and then help sell them to investment houses and banks which was effectively fraud, doing nothing is not the answer.

    Furthermore, AIG issuing CDS that in total were far above its capacity to meet even a fraction of its obligations with its assets is not a sign that doing nothing is acceptable.
    Last edited by obvious Child; 02-22-10 at 04:15 AM.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Obama to Urge Oversight of Insurers� Rate Increases

    Quote Originally Posted by texmaster View Post
    Yup.

    And they did that with lowering the home loan requirements.

    How's that worked out for us?
    And that is what they did with antitrust laws...

    And that is what they did with product safety laws...

    And that is what they did with consumer fraud laws...
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

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    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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