Health insurers sue Massachusetts on rate denial & "disruption in the marketplace"

[Bluebear]

A half dozen state health insurers, warning they could collectively lose hundreds of millions of dollars this year, today filed a lawsuit seeking to reverse a decision by Massachusetts regulators to block double-digit premium hikes.

The increases would have taken effect April 1 for plans covering thousands of small businesses and individuals.

The insurance carriers will go before a judge in state Superior Court Thursday seeking a preliminary injunction against last week's rulings by Insurance Commissioner Joseph G. Murphy to reject 235 of 274 premium hikes proposed by the health insurers.

Those rulings, following emergency regulations set by Governor Deval Patrick, marked the first time the state has used its authority to deny premium increases.

"What the commissioner did, we think, is going to create tremendous disruption in the marketplace," said Dean Richlin, a partner at Boston law firm Foley Hoag, who is representing the insurers.

http://www.boston.com/business/ticker/2010/04/health_insurers_1.html

[Greyhound]

1. Behold! Our new and changed nation's new National Symbol!

"But nobody could have predicted this..."
:eyes:

[jannyk]

2. Thank God HRC will stop all this...

... oh wait... No, that's right, it won't.

:mad:

[Bluebear]

10. ...

:nodding:

[Vinca]

3. A preview of coming attractions.

[Sanity Claws]

5. You're right

In which case, it may hasten the rise of single payer or another true public option.

[Bluebear]

8. +

[bobbolink]

4. Rec'd for the talons... ^_^

Cuz I just have no more tears to shed for those poor, suffering corporations.

:hi:

[Bluebear]

6. But, but, they will "lose hundreds of millions of dollars"!

Criminal.

[bobbolink]

7. Yeah, they will have to give up one of their many mansions, so we homeless

riff-raff will take it over.

:evilgrin:

Its all so very sad.... I have such a backlog of stuff to cry over, this will have to take a number.

:yourock:

[marmar]

9. At least the bird vulture serves some useful purpose.....

nt

[Motown_Johnny]

11. Single payer would deal with this...

But NOoooooo !!!!!!!

[Bluebear]

12. you said it mo