In Some States, Health Insurers Are Raising Rates......

[tru_m.a.c]

In Some States, Health Insurers Are Raising Rates Despite Health Law's Efforts To Restrain Increases

The New York Times details differences in states' ability to regulate rates as well as in premium costs. Meanwhile, the Associated Press reports on the savings that New Yorkers could experience.

The New York Times: Health Insurers Raise Some Rates By Double Digits
Health insurance companies across the country are seeking and winning double-digit increases in premiums for some customers, even though one of the biggest objectives of the Obama administration's health care law was to stem the rapid rise in insurance costs for consumers. ... Under the health care law, regulators are now required to review any request for a rate increase of 10 percent or more ... The review process not only reveals the sharp disparity in the rates themselves, it also demonstrates the striking difference between places like New York, one of the 37 states where legislatures have given regulators some authority to deny or roll back rates deemed excessive, and California, which is among the states that do not have that ability (Abelson, 1/5).
http://www.nytimes.com/2013/01/06/b...rp-rise-in-premiums.html?pagewanted=1&_r=1&hp

The Associated Press/Wall Street Journal: NYers To Save $500M On Health Insurance Premiums
Governor Andrew Cuomo says new state power to limit rate hikes will save New Yorkers more than $500 million on health insurance premiums in 2013. Cuomo announced Sunday that health insurers requested average increases of about 12.4 percent, but the state Department of Financial Services cut the average increase to 7.5 percent (1/6).
NYers to save $500M on health insurance premiums - WSJ.com

 

[Type Username Here]

In Some States, Health Insurers Are Raising Rates Despite Health Law's Efforts To Restrain Increases

The New York Times details differences in states' ability to regulate rates as well as in premium costs. Meanwhile, the Associated Press reports on the savings that New Yorkers could experience.

The New York Times: Health Insurers Raise Some Rates By Double Digits
Health insurance companies across the country are seeking and winning double-digit increases in premiums for some customers, even though one of the biggest objectives of the Obama administration's health care law was to stem the rapid rise in insurance costs for consumers. ... Under the health care law, regulators are now required to review any request for a rate increase of 10 percent or more ... The review process not only reveals the sharp disparity in the rates themselves, it also demonstrates the striking difference between places like New York, one of the 37 states where legislatures have given regulators some authority to deny or roll back rates deemed excessive, and California, which is among the states that do not have that ability (Abelson, 1/5).
http://www.nytimes.com/2013/01/06/b...rp-rise-in-premiums.html?pagewanted=1&_r=1&hp

The Associated Press/Wall Street Journal: NYers To Save $500M On Health Insurance Premiums
Governor Andrew Cuomo says new state power to limit rate hikes will save New Yorkers more than $500 million on health insurance premiums in 2013. Cuomo announced Sunday that health insurers requested average increases of about 12.4 percent, but the state Department of Financial Services cut the average increase to 7.5 percent (1/6).
NYers to save $500M on health insurance premiums - WSJ.com

You don't say?

Just in time for us to be obligated to purchase private health insurance?

Well, I am sincerely shocked. Must be some sort of crazy coincidence.

 

[tru_m.a.c]

So I bring this topic here because it touches on many interesting points

The first I want to bring attention to is the NY law that is being heralded in these articles. It took me 20 fukkn mn to find the exact name of this law (the Prior Approval law) because NONE of the articles on the net actually stated the name of said law.

If you'd like to read up on it, here is the nygov page: https://myportal.dfs.ny.gov/web/prior-approval/welcome

So what I thought was interesting after quickly researching the law, was that it was actually REPEALED in 1995, despite successful results (heeeey kind of like banking regulation):

Prior to its repeal in 1995, the law had trimmed requested rates by an average of 25%.
http://www.consumerwatchdog.org/resources/cwrateregulation.pdf

 

[tru_m.a.c]

I thought the other interesting point it raises, deals with the ideology of the electorate.

Common sense would tell you, that all 50 states SHOULD have a "Prior Approval" law.

I'm still in the middle of narrowing down what 37 states had the common sense to enact this law. But the way my thinking goes, is that issues like this show your true colors in terms of what you believe in.

If you're really about the middle class, if you're part of the 13 states, this should be your go to measure for the year 2013.

If you're against fraud and all about proper fiscal management, this should be your go to measure for the year 2013.

If you're against the government borrowing money, this should be your go to measure for the year 2013

 

[tru_m.a.c]

This issue sheds light on something that a lot of media discussions simply gloss over.
Many states, either due to poor state legislative processes, or just a poorly informed electorate fukk up royally.

I do believe, that too much of a focus at the federal level, has allowed lapses like these to go undetected right beneath our noses.

 

[TruStyle]

You don't say?

Just in time for us to be obligated to purchase private health insurance?

Well, I am sincerely shocked. Must be some sort of crazy coincidence.

 

[Brown_Pride]

well fuk me sideways.

$100 bet saying this never makes it into mainstream media.