Health Care Showdown: The White House Takes on Insurers

[babylonsister]

Health Care Showdown: The White House Takes on Insurers
Christina Bellantoni | March 4, 2010, 3:56PM


President Obama and Health and Human Services Secretary Kathleen Sebelius today summoned the nation's four largest health insurers responsible for rate increases the administration calls "jaw-dropping." They demanded the insurers - WellPoint, Cigna, Aetna and United Health Group - start disclosing their rate increases on the Internet.

Everyone involved called the talks "constructive," but shortly after the meeting a report surfaced showing the nation's largest insurer would stand to profit substantially if reform fails.

The Washington Post's Ezra Klein got his hands on a report from a consulting firm which evaluated Wellpoint stock and concluded, "Of course, healthcare reform is a double-edged sword for Wellpoint shares. Should reform fail, Wellpoint would be a primary beneficiary."

Before that report surfaced, administration officials said the rate hikes aren't fair. "It just doesn't make a lot of sense to people across America," Sebelius said on a conference call with reporters after the White House meeting.

snip//

White House Press Secretary Robert Gibbs said in his daily briefing today that if insurers feel their profits have been singled out unfairly they can release the actuarial data the Obama administration has requested. As we've been detailing, the administration and congressional Democrats have pressured WellPoint to disclose profits margins, cost of care and salaries of executives as they probe the 39 percent proposed increase on WellPoint's Anthem Blue Cross customers in California.

Gibbs and others have used the massive rate hikes - more of which are expected across the country - to say reform is more necessary then ever. The final health care proposal includes a rate authority that would allow Sebelius to evaluate hikes and demand justification.

more...

http://tpmdc.talkingpointsmemo.com/2010/03/white-house-tussles-with-insurers-as-report-shows-wellpoint-would-profit-if-reform-bill-died.php?ref=fpa

[Larkspur]

1. More Kabuki dancing from the White House

If they are really serious about cracking down on the health insurers, they'd push for Medicare expansion and buy-in.

[whosinpower]

2. The cynic in me

thinks that the massive rate hikes now are a major incentive....and that is why the insurance companies actually want reform. They are using the rate hikes to force reform. Reform, if it is just like the senate version is a bailout for the insurance firms....because in a couple more years, the boomers will be retiring in droves....

[amborin]

5. my thought, exactly

[Nite Owl]

3. Yeah they better publish those

increases on the internet. That'll do it.
Wow, beat them with a wet noodle.

[jtrockville]

4. Wait... how did we hear about these increases anyway?

Oh yeah... the internet.

[JoeyT]

6. This is a fine idea.

Once they have to publish increases on the internet we'll be able to make informed decisions. Then the invisible hand of the free market we keep hearing so much about will fix everything. Because we have so much of a choice and all.

[Cha]

7. Good for the White House who I trust

way over interneters who can only contribute cheap pot shots.

Thank you, President Obama and Team:patriot::patriot: