Washington (CNN) -- The Obama administration will propose legislation that would allow the government to block excessive rate hikes by health insurance companies, a senior administration official said.
The official could not speak on the record because the White House has not formally announced the proposal.
Word of the administration plan comes as the White House was to unveil President Obama's latest health insurance reform proposal at 10 a.m. ET Monday.
1. Define "excessive".
2. President Øbama's "latest" health insurance reform proposal? Is this the post-Scott Brown one or the post-announcement of retiring Democrats one?
3. I don't like it when my insurance premiums go up, no one does. It should scare the living bejeesus out of anyone with three brain cells to rub together that the FedGov is going to "block" any private enterprise from charging a certain price for their services.
Welcome to the collective, komrade; the line for toilet paper starts around the corner.
That is all.
8 comments:
I agree with 99.9% of what you say but I respectfully disagree on this one. As a small business owner (just me and my wife), my BCBS rate is going up 35% this year! 12% increase previous year, 17% increase year before that. If electric companies and natural gas companies have to get approval to raise rates, why should insurance companies be able to increase whatever they feel? Back to work...
KFran,
I understand, believe me I do. The Electric companies and gas companies are typically municipal, though, IIRC - I know in my town our Electric is from the town itself.
It still scares me whenever the .gov tells me it's going to work to stop "excessive" *anything*, as they often mean "anything we don't like" as "excessive".
Why is your rate going up, KFran? Has BCBS given you any kind of explanation?
Have you considered looking for coverage from another company? Blue Cross Blue Shield isn't exactly well known for cheap rates, IIRC.
Here in MT BCBS has a majority stake in Health Insurance (I have heard they have about 65% of the market here). Not much competition in MT so they can pretty much do as they please (no they did not say why it went up except "market conditions"). We will be moving to FL soon so I plan on seeing what I can get there. Right now I pay $6000 a year for me and my family and that is with a $10,000 deductible. Dental insurance is on top of that and vision I am on my own. I'm no fan of the chosen one but _something_ has to be done about health insurance in this country. My 2 cents. Keep up the great blog!
KFran:
I don't know about where you live, but hear in Virginia, the electric company has to get gov't approval because they're a monopoly - there is no competition, and even where there is another power company (here in Blacksburg, Virginia Tech actually supplies power to a good chunk of the town) they buy any power above their generating capacity off that same monopoly (AEP). AEP therefore controls the rates for any local power companies that exist.
There's a big stink in VA right now over the way AEP has raised rates (60% since 2007), and the way they get to ask for an increase and charge the new rate before it's approved (if it's not approved, they have to apply it to your later bills). They also have been asking for increases (and started charging them) before the previous requests have been approved. They've been getting away with this because there's no one else for people to go to for electricity, and the .gov has been letting them get away with it up till now.
WV: garri - "garri indiana, garri indiana, Not Louisiana, Paris, France, New York, or Rooooome..."
We don't need to line up for toilet paper. The Soviets used strips of Pravda. We'll use the NYT.
What happened to your new senator?
First vote and he folds.
Same ol' same ol'.
A meaningless vote, Skip, seeing as how Snowe, Collins, and Voinobitch had already crossed the aisle.
I'll wait and see how he votes on important items, and votes where he really is that critical 41st vote, before condemning him.
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