Obama Tells Insurer Not to Raise Rates

Neal's Nuze ^ | 11/22/2011 | Neal Boortz

[Marathoner]

This is a prime example of what is outrageously wrong with government interference in the private economy. We now have the White House telling a private insurance company that it should not raise its rates. Pennsylvania-based Everence Insurance, a Mennonite insurer, says it needs to raise its rates by an average of 11.6% in the small-group market. We can assume that they arrived at this figure based on legitimate economic and financial research and number-crunching .. after all, what business really WANTS to raise its rates on its customers by any significant amount.

So because this company wants to raise its rates by over ten percent, it is required under ObamaCare that they submit a rate review to the federal government! This insurance company submits its review to the Obama administration, and what’s the Obama response? The rate increase is unreasonable and it should be repealed. Why? Well because we don’t like your numbers .. Kathleen Sebelius says, “This sends a message to insurers around the country that the days of unchecked, double-digit increases are over.” Apparently the market is no longer a suitable “check” on insurance companies. Hence the need for the imperial federal government to step in and regulate.

At the end of the day, the federal government cannot flat-out reject any rate increases … yet. But if companies like this Everence proceed with their plan to raise rates by 11.6%, they are required to “justify” this publically on healthcare.gov.

This is the world according to Barack Obama: a command economy. Businesses will be privately owned but regulated by the government. In case you’re interested … a private economy regulated and managed by the government is defined as a Fascist economy. Under fascism the government will decide how to run your businesses, because, after all, the federal government truly knows best. America’s greatness comes from government.

[GOP Poet]

bookmark

[Recovering_Democrat]

Hussein wants them to go out of business. Hussein hates free market capitalism.

[Cheerio]

How much longer can we put up with this crap?

Must be a rhetorical question!! Until Americans wake up to the fact that "Hope and Change" really meant "Hype and Cheap Talk", there isn't gonna be any revolution to throw the bums out. I thought America would have taken to the streets over a year ago - proving I guess that we really don't care at all about the lawlessness in the District of Corruption.

[chooseascreennamepat]

Hey...0...STFU!

[chooseascreennamepat]

My Sister lives close in between the Missouri and Big Sioux rivers. He place has been deemed a flood area but NONE of the land surrounding her place suffers the same designation. Even the topo maps show her place to be on higher ground than surrounding land.

Now how does the water get to her place without flooding land somewhere between her and the rivers.

In fact most all of the surrounding properties have been flooded by either the Big Sioux or the Missouri in years from 1930-current. But NOT hers.

The feds are idiots!

[rollo tomasi]

Maybe Everence Insurance can petition to raise their debt ceiling and print their own money in order to cover expenses while keeping their incomes intact.

[Signalman]

The Marxist dictator has spoken. So it shall be written, so it shall be done.