Power Grab…

From Bloomberg:

Obama to Endorse Rules to Limit Health-Insurance Rate Increases

Feb. 22 (Bloomberg) — President Barack Obama will endorse new rules giving the government power to stop insurance-rate increases it deems unreasonable, as part of a plan to revamp the health-care system, an administration official said.

Obama’s proposal, which would give the U.S. Department of Health and Human Services the new authority over insurers, is to be unveiled today.

I got news for you there, Skippy…The state governments already do that.  Google NAIC.  Every single insurance rate change by any insurance company anywhere in the United States (even a decrease) has to be actuarially supported and then approved by the insurance commissioner of the state where the rate change is proposed.  Every. Single. One.  But you must be smarter than them…

After all, we can’t have companies in America actually trying to, you know, make a profit for their shareholders.  And it probably never occurred to you, Boy Genius, that a large (and growing) part of the reason that health insurance companies are asking for these rate increases is that the doctors are increasing their rates for non-Medicare patients because the federal government is perpetually squeezing their profits by reducing and denying payment for Medicare claims.

Ever wonder, oh Articulate Intelligent Omniscient One, why auto insurance rates and homeowners’ insurance rates have not increased at the same pace as healthcare rates over the past several decades?  Well, you can’t disprove a negative, but I would be willing to bet that a heapin’ helpin’ of the cause/effect there is that the federal government is not involved.

So this is a power grab plain and simple – not a power grab by the US Government from corporations or individuals – but a power grab by the US Government from each of the individual states.  Which, of course must be a good idea, because as we all know, there isn’t any program, service or product that doesn’t improve in efficiency, cost or quality when the US Government bureaucracy decides to muscle in take over regulate it.




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