Newspaper logo  
 
 
Local Stories, Events

Ref. : Civic Events

Ref. : Arts & Education Events

Ref. : Public Service Notices

Books, Films, Arts & Education
Letters

Ref. : Letters to the editor

Health Care & Environment

02.14 Exposure to Glyphosate-Based Herbicides and Risk for Non-Hodgkin Lymphoma: A Meta-Analysis and Supporting Evidence [If its killing us, make it illegal]

02.14 To avoid environmental catastrophe, everything must change [Consider why this headline is laughable or confusing to many, if not most, Americans...]02.13 Study Shows Toxic Pesticide Levels in Families Dropped by 60% After One-Week Organic Diet [2:10 video; Produce and canned vegetables laced with toxic chemicals—from fertilizers and herbicides, too—must be quickly phased out to use safe organic alternatives]

02.12 Biggest offshore windfarm to start UK supply this week

02.12 Scientists Are Totally Rethinking Animal Cognition

02.12 Politicians are complicit in the killing of our insects – we will be next

02.11 'People Shouldn't Be Going Bankrupt and Dying': Nationwide Week of Action Aims to Build Mass Movement Behind Medicare for All [Corporate control of government and media must be limited to allow efficient programs for the public good]

02.11 Sen. Chris Murphy to Doubters: Green New Deal 'Absolutely Realistic' and the Kind of Plan Needed to Avert Climate Disaster

02.11 Plummeting insect numbers 'threaten collapse of nature'

02.10 The truth about big oil and climate change

02.09 The potato solution: how the Guardian switched to biodegradable packaging [Non-recyclable products should be illegal]

02.08 Stripping Social Programs Leads to Lower Life Expectancy

02.08 UK's Met Office Warns Global Temperature Could Soar Beyond 1.5°C Threshold Within Five Years

02.08 Australia can meet Paris targets if government doesn't hinder progress, report claims

News Media Matters

02.15 Samantha Bee: Fox News 'soiling themselves over the Green New Deal' [video clips from Samantha Bee, Seth Meyers and Stephen Colbert]

Daily: FAIR Blog
The Daily Howler

US Politics, Policy & 'Culture'

02.15 Bernie Sanders Wants to Expand Social Security

02.15 Progressives Need to Ignore the Noise and Stay Ambitious

02.15 Jayapal Says Medicare for All Bill Coming in Two Weeks as Expert Calls Plan 'Astonishingly Strong' [Corporate control of government and media must be limited to allow efficient programs for the public good]

02.15 To Be Crystal Clear: 'Medicare for All' Does Not Mean 'Medicare for Some'

02.14 Eugene V. Debs and the Endurance of Socialism [28:59 audio to listen via another window as you browse]

02.14 Pentagon Fears Climate Crisis, w/ Billions in Damage to US Bases & Societal Upheaval [In maniacally twisted capitalist countries inconvenient truths are ignored or harshly ridiculed, and Trump's stupid Wall obsession dominates the news instead.]

02.14 What's more offensive: a racist yearbook photo or structural racism?

02.14 American moms: let's stop feeling guilty and start getting mad

02.13 House Democrats plan vast Russia probe

02.13 What is Democratic Socialism and Does America Need to be “Protected” from Sanders and Ocasio-Cortez ?

02.13 'We Will Be That Lantern on the Shore': Ocasio-Cortez, Pressley Rally With TPS Holders Outside Trump White House [Empathy and fairness are scarce when your President is a psychopath]

Justice Matters
High Crimes?
Economics & Corrupting-Capitalism

02.13 The Green New Deal offers radical environmental and economic change [For the survival of life on earth, capitalism must be effectively regulated or banned]

02.12 Climate and economic risks 'threaten 2008-style systemic collapse' [Willfull ignorance of Trump, Republicans, corporate-media and corporate-Democrats is steadfast, if not worsening]

02.11 Trump offers socialism for the rich, capitalism for everyone else [and the poor will die out like the insects]

02.10 Green New Deal Targets Link Between Trade Policy and Climate Change

International & Futurism

02.15 Who Is Really A Socialist? [Who is really a Republican, etc.?]

02.15 In Germany, the Green New Deal Actually Works

02.14 House passes bill to end US support for Saudi war in Yemen [Congress does something good again!]

02.14 Millions Flowed From Venezuelan Oil Firm to Small Bulgarian Bank [Transactions like Manafort performed for Trump. Which Venezuelan political leader is likely behind this—Maduro or Trump-supported Guaidó?]

02.13 As Macron Prepares New Repressive Measures, Yellow Vests and Red Unions Strike Together

02.13 Harrison Ford: leaders who deny climate change are 'on the wrong side of history'

02.13 Nationalist strongmen are bent on controlling women’s bodies

We are a non-profit Internet-only newspaper publication founded in 1973. Your donation is essential to our survival.

You can also mail a check to:
Baltimore News Network, Inc.
P.O. Box 42581
Baltimore, MD 21284-2581
Google
This site Web
  Health Insurers Threaten Rate Hikes
Newspaper logo

AN INDUSTRY READY TO GO OUT OF BUSINESS:

Health Insurers Threaten Rate Hikes

by Robert Parry
Originally published in ConsortiumNews.com earlier today, 9 October 2009

Though looking forward to millions of new customers who would be compelled by the U.S. government to buy health insurance, the insurance industry is threatening to raise premiums across the board if more of its demands are not met.

Industry representatives put Congress and the Obama administration on notice that if health-reform legislation doesn’t send even more new customers the industry’s way or if a windfall profits tax is included, the industry would hit businesses, individuals and the government with higher premiums, effectively defeating one of the initiative’s top goals, reining in ever-rising costs.

The industry’s chief complaint, which was raised in connection with an already-industry-friendly bill cobbled together by Senate Finance Committee chairman Max Baucus, is that the legislation would push 29 million more Americans into the insurance market, but that they might be the sickest and thus costliest people.

The industry wants more of the estimated 25 million still uninsured – especially healthy, young people – to be compelled to buy policies, too. Without more healthy customers added to the mix, the industry says it will have no choice but to raise rates.

"The consequences of this would be an upward spiral; rate shock to everyone who stays in," Karen Ignagni, president of the industry group America's Health Insurance Plans, told the Washington Post. "This legislation will fail the test of affordability for individuals." [Washington Post, Oct. 9, 2009]

The industry’s warning comes after its lobbyists won an important victory in the Senate Finance Committee, defeating amendments that would have added a public option, a government-run program that would compete with private insurers to hold down costs.

Private insurers also bristled at an idea floated by House Speaker Nancy Pelosi, a windfall profits tax on extra money the industry might make from the influx of millions of new customers, many qualifying for government subsidies.

Robert E. Zirkelbach, a spokesman for America’s Health Insurance Plans, told the New York Times that a tax on windfall profits “would lead to higher premiums for families and businesses” because the added expense would be passed through to customers. [NYT, Oct. 9, 2009]

However, it was not clear why insurers would worry about a windfall profits tax if they were also concerned that new customers would be a financial burden.

Still, by the industry throwing its weight around with threats of higher premiums, it may be risking a backlash from Congress, which could still turn to the public option as the only feasible method for constraining ever-rising health insurance costs.

The industry fears the public option because it could piggyback on the existing Medicare bureaucracy and thus save substantial money, which the insurance industry spends on administrative expenses, executive pay and profits.

Those costs eat up 20 percent or more of an average dollar that businesses and individuals spend on health insurance premiums, compared to about 2 percent for Medicare.

The latest threats suggest that industry lobbyists believe they have enough senators lined up to back a Republican filibuster and block the public option.

But Democrats especially have reason to worry, because if they enact a reform package without the public option – and insurers then jack up rates – Democrats could be blamed for the unintended consequence of higher costs and thus pay a steep political price at the polls.

[For more on the Democrats' dilemma, see Consortiumnews.com's "Democrats Ponder Health-Care Suicide."]


Robert Parry broke many of the Iran-Contra stories in the 1980s for the Associated Press and Newsweek. His latest book, Neck Deep: The Disastrous Presidency of George W. Bush, was written with two of his sons, Sam and Nat, and can be ordered at neckdeepbook.com. His two previous books, Secrecy & Privilege: The Rise of the Bush Dynasty from Watergate to Iraq and Lost History: Contras, Cocaine, the Press & 'Project Truth' are also available there. Or go to Amazon.com.

This article is republished in the Baltimore Chronicle with permission of the author.



Copyright © 2009 The Baltimore News Network. All rights reserved.

Republication or redistribution of Baltimore Chronicle content is expressly prohibited without their prior written consent.

Baltimore News Network, Inc., sponsor of this web site, is a nonprofit organization and does not make political endorsements. The opinions expressed in stories posted on this web site are the authors' own.

This story was published on October 9, 2009.

 

Public Service Ads: