The stand-off between Massachusetts regulators and health insurance companies intensified today as most insurers stopped offering new coverage to small businesses and individuals while state officials demanded that the insurers post updated rates online and resume selling such policies by the end of the week.
People seeking to buy health insurance for the first time, or existing customers looking to change policies, found themselves out of luck, at least temporarily, in the aftermath of last week's decision by the state Division of Insurance to reject 235 of 274 premium increases proposed by insurers for what is known as the small group market. The segment covers about 800,000 residents.
Oh, those nasty insurance companies, trying to be profitable. Can't have that! Thank goodness the citizens of Massachusetts have the Division of Insurance to protect them from the rapacious whims of these button-down brigands.
This is the game, folks. The regulators will impose rules and make rulings that make it virtually impossible for insurers to offer a product. The people will then need something else. Something like, say, a public option. Which will be the only option once the regulators complete their work.
Be sure to read the rest of the piece, which features such fascinating players as the "Commonwealth Health Insurance Connector Authority, " which is likely a bunch of really great dudes. Oh, and by the way, it's worth remembering that the politician most associated with what is happening in Massachusetts is a fella by the name of Mitt Romney.
No comments:
Post a Comment