And, once again, it’s the liberal, pro-ObamaCare Boston Globe-Democrat that breaks the story:
State officials said they sent letters to three health insurers earlier this year asking them to accept more intense oversight and supply additional data because of concerns about their financial health.
One of the insurance companies has agreed to administrative oversight, while regulators are negotiating details with the other two, the officials said. Administrative oversight is a first step regulators take when they determine there is a need to monitor the financial condition of insurance carriers more closely. It does not mean the companies are insolvent.
Officials said the heightened concern is related to the fragile economy, which caused several major insurers to lose money in 2009. At least one of the letters was sent out after the state denied health premium increases for April 1, but before insurers reported first-quarter losses they blamed on the rate rejections.
Was it really the “fragile economy” that’s causing Massachusetts insurance companies to go broke, as the Patrick administration claims? Or is it the lousy Romney-Care plan they’re working under, and the fact that more and more people are getting services they’re not paying for? Those costs are being shifted onto taxpayers and the insurance companies. Who ends up picking up both those tabs?
Taxpayers who have insurance.
And what’s the “solution?” Have the same government that created the problem take over the private health insurers. It’s a joke, and everyone knows it. In fact, people inside the Patrick administration know that they and their policies are the problem.
The latest moves seeking more oversight came to light this week when the state released e-mails sent by a Division of Insurance official, Robert G. Dynan, who complained that the state’s April 1 rejection of proposed double-digit rate increases for small firms and individuals could threaten insurers’ financial stability and lead to “a train wreck.’’
In an April 30 message, Dynan, deputy commissioner of financial analysis, wrote to Murphy: “We recently placed three Massachusetts [insurers] under Administrative Oversight and plan to assess the situation and most likely will be placing more companies into Administrative Oversight in the next few weeks. The prospect of these companies’ surviving is called into question under a rate cap scenario.” …
Lora Pellegrini, president of the Massachusetts Association of Health Plans, a trade group, blamed the state moves toward administrative oversight on the rate caps, which she said were imposed to boost Governor Deval Patrick’s political standing.
“My understanding is not all the plans received letters,’’ Pellegrini said. “If the governor keeps the rate caps in place, I can guarantee you all of the plans could have serious financial issues.’’
The debate is over. ObamaCare leads to higher prices. Higher prices lead to government imposed “price caps.” Price caps drive private insurers out of business, which leads to a government-run, single-payer system. And that system is so expensive that the inevitable result is rationing health care.
Massachusetts is already well down that road. And when we glance in our rearview mirror, we see the rest of the US, gaining fast.
"The truth is something [Warren] probably prefers not to confront. Harvard doesn’t come calling just because you’re a smart lawyer and a terrific teacher — not with Warren’s modest, Oklahoma upbringing and non-Ivy League education. She is not your typical Harvard professor. At a certain point, when the law school was under pressure to promote diversity, she represented a three-fer: a great lawyer with a national profile, a woman, and a minority, at least by virtue of family lore. "
-- Joan Vennochi
