Federal Proposal to Scrutinize Health Ins Rate Hikes

[zoocrew]

The Federal government is proposing that rate hikes of more than 10% have to be publically disclosed and the rational for the increase has to be shown too.

 

This should prevent stuff like Wellpoint's 40% proposed increase that they eventually scaled back.

 

Maybe now insurance companies will have to start showing where the real costs are instead of playing the blame game.

 

My Link

[lotstodo]

The Federal government is proposing that rate hikes of more than 10% have to be publically disclosed and the rational for the increase has to be shown too.

 

This should prevent stuff like Wellpoint's 40% proposed increase that they eventually scaled back.

 

Maybe now insurance companies will have to start showing where the real costs are instead of playing the blame game.

 

My Link

If health insurance companies are now to become regulated utilities, like the power company or the gas company, then shouldn't their profit margin be guaranteed as well as their prices regulated? On what authority does the Federal Government propose to set the prices of these companies? Since when is the Federal Government responsible for this kind of direct interference in the "free market"? This is defacto nationalization of the industry. A government that controls price controls the industry.

[zoocrew]

If health insurance companies are now to become regulated utilities, like the power company or the gas company, then shouldn't their profit margin be guaranteed as well as their prices regulated? On what authority does the Federal Government propose to set the prices of these companies? Since when is the Federal Government responsible for this kind of direct interference in the "free market"? This is defacto nationalization of the industry. A government that controls price controls the industry.

The article didn't say anything about the insurance companies becoming regulated like the utility companies or set prices or in any way get into the free market. The article even said those things cannot happen.

 

It's only nine paragraphs and some of those are single sentences. 2 minutes. Tops.

Edited December 22, 2010 by zoocrew

[lotstodo]

The article didn't say anything about the insurance companies becoming regulated like the utility companies.

If they can set the price they completely control the company. It is a DEFACTO take over if the industry. They can call it whatever they want, but if I tell you how much you can make I own you. This is the reason that States must guarantee a "reasonable" profit margin to regulated industries.

[zoocrew]

If they can set the price they completely control the company. It is a DEFACTO take over if the industry. They can call it whatever they want, but if I tell you how much you can make I own you. This is the reason that States must guarantee a "reasonable" profit margin to regulated industries.

The government is not setting the price.

[lotstodo]

The government is not setting the price.

Health and Human Services Secretary Kathleen Sebelius unveiled proposed rules that would let the federal government help decide when and if an insurance company’s proposed premium increases are "reasonable."

 

What do you call that? What euphemism for price controls is NPR using this week?

[zoocrew]

Health and Human Services Secretary Kathleen Sebelius unveiled proposed rules that would let the federal government help decide when and if an insurance company’s proposed premium increases are "reasonable."

 

What do you call that? What euphemism for price controls is NPR using this week?

 

 

Good lawd.

 

Second, the federal government doesn't have the authority under the law to actually disapprove any premium increase it deems "unreasonable," although many states do.

 

Still, said Sebelius at a news conference to unveil the proposed regulation, "ultimately, we know that the bright light of sunshine convinces more insurers to think twice and check their math before submitting large rate hikes, which means the benefits of these rules will be felt by millions of Americans."

[lotstodo]

Another link

 

This is all an effort to end-run Congress, which by some miracle declined to give HHS the formal legal authority to explicitly block premium increases, despite a direct appeal from President Obama. Instead, Ms. Sebelius is creating by regulatory fiat larger de facto powers to achieve the same end.

 

Yesterday, HHS reiterated Ms. Sebelius's threat to exclude certain insurers from ObamaCare's insurance exchanges if they show "a pattern" of unjustified rate increases. In practice, that would be a corporate death warrant.

[Cathyhelms]

ZC, you're Ok with the government getting more involved with the health insurance industry?? LTD is exactly right!!

 

So how many of you actually believe they aren't trying to control rates?? I've got some ocean front property in Illinois I can sell you.

[zoocrew]

Another link

 

This is all an effort to end-run Congress, which by some miracle declined to give HHS the formal legal authority to explicitly block premium increases, despite a direct appeal from President Obama. Instead, Ms. Sebelius is creating by regulatory fiat larger de facto powers to achieve the same end.

 

Yesterday, HHS reiterated Ms. Sebelius's threat to exclude certain insurers from ObamaCare's insurance exchanges if they show "a pattern" of unjustified rate increases. In practice, that would be a corporate death warrant.

Just to make sure we're on the same page, this doesn't give the Federal government the ability to direct premiums. It does require the companies to detail what the rate hike is and why the company needs it.

 

ZC, you're Ok with the government getting more involved with the health insurance industry?? LTD is exactly right!!

 

So how many of you actually believe they aren't trying to control rates?? I've got some ocean front property in Illinois I can sell you.

The government is not "getting involved" with it. The rate hikes have to be shown and explained so the companies cannot raise rates above what is needed to cover the normal cost and use excuses. They have to show the numbers.

[Cathyhelms]

Just to make sure we're on the same page, this doesn't give the Federal government the ability to direct premiums. It does require the companies to detail what the rate hike is and why the company needs it.

 

 

The government is not "getting involved" with it. The rate hikes have to be shown and explained so the companies cannot raise rates above what is needed to cover the normal cost and use excuses. They have to show the numbers.

 

Soooo.................who they gonna explain it to???

[zoocrew]

Soooo.................who they gonna explain it to???

The public will have the chance to see it if it has to be disclosed.

 

And there are no death panels either.

[lotstodo]

Just to make sure we're on the same page, this doesn't give the Federal government the ability to direct premiums. It does require the companies to detail what the rate hike is and why the company needs it.

 

 

The government is not "getting involved" with it. The rate hikes have to be shown and explained so the companies cannot raise rates above what is needed to cover the normal cost and use excuses. They have to show the numbers.

Riiiiight. So if they don't play along with Kathy they get put out of business, and that doesn't direct premium decisions. I see. As long as they have the option of going out of business, then I guess they aren't being controlled by the Department of HHS then.

[Cathyhelms]

The public will have the chance to see it if it has to be disclosed.

 

And there are no death panels either.

And who's going to do the disclosing???

 

LTD............ Going out of business, courtesy of the government.

[zoocrew]

Riiiiight. So if they don't play along with Kathy they get put out of business, and that doesn't direct premium decisions. I see. As long as they have the option of going out of business, then I guess they aren't being controlled by the Department of HHS then.

As long as they have to show that an increase is justified and not used as an excuse to gouge the consumer. Doesn't the consumer deserve to know, especially since most people have health insurance through their employer and have little option? This will force competition among the companies and they will have to play on the level field.

 

And who's going to do the disclosing???

 

LTD............ Going out of business, courtesy of the government.

The company. They have to show the increase in cost and the increase in premium. Doesn't the consumer deserve the right to know?

[Cathyhelms]

Hmmmm, wonder who's gonna tell the consumer if the government isn't involved???

[zoocrew]

Hmmmm, wonder who's gonna tell the consumer if the government isn't involved???

They can read.

[Cathyhelms]

They can read.

 

And who writes the reports???

[zoocrew]

And who writes the reports???

It is listed on the report who writes them just like all reports.

[Cathyhelms]

It is listed on the report who writes them just like all reports.

 

OK........... :rofl:

[zoocrew]

My Link

 

http://www.youtube.com/watch?v=BOLxRrlU7Qg&feature=player_embedded

[rbpls]

My Link

 

http://www.youtube.com/watch?v=BOLxRrlU7Qg&feature=player_embedded

 

ZC, if this were a football game, you'd be winning 70 to 3.

 

I'm a big fan of capitalism but the way we pay for health care in the US makes bad use of the competition model. Our health care system needs way more fixing than has happened. Many americans have fallen under the spell that everything is just peachy because they personally are not hurting. Ironically, the ones who feel that way are usually covered by some heavily subsidized insurance plan and imagine they are fending for themselves.

 

The health care bill is flawed. It is just a small step in the right direction. It will become more highly regarded as more information comes out. We, as americans, will make changes (hopefully) for the better.

 

Until we can cover every citizen in this country for no more than 1.5 times what it cost per capita, say, in Canada, then it takes a real doof to say we are doing it right.

 

"Fat, dumb and happy" is what one of my professors used to call it. Americans are good people but have a lot to learn about how much we are being shafted by the inefficiency in how we pay for health care.

 

Marie Antoinette didn't really say it, but is quoted (loosely) "...the people are hungry and can't get enough bread? Well, let them eat cake!" She wasn't a horrible person...just very naive.

Edited December 22, 2010 by Well Read

[Mrs. Avalon]

The government is not setting the price.

Ok. Then what is going to happen when the government "looks" at the rate increases for certain insurance companies and doesn't feel that they were reasonable? Do you think they are just going to pat little Johnny the Insurance President on the back and send him on his way? Puhleez!