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The Spectacle Blog
President Obama on Tuesday laid the groundwork for the administration to blame insurers when health care premiums rise as a result of the new law he signed in March.
During the health care debate, critics of the legislation warned that premiums would rise as a result of the raft of new regulations placed on insurers. If government requires people to purchase policies that offer more generous benefits, it stands to reason that those polices will cost more money. Today, as part of a speech unveiling a new set of health care regulations, Obama gave us a preview of how the administration is likely to respond once premiums inevitably rise as a result of the law. He said:
The point is that there are genuine cost-drivers that are not caused by insurance companies. But what is also true is we’ve got to make sure that this new law is not being used as an excuse to simply drive up costs. So what we do is make sure that the Affordable Care Act gives us new tools to promote competition, transparency and better deals for consumers. The CEOs here today need to know that they’re going to be required to publicly justify unreasonable premium increases on your websites, as well as the law’s new website — healthcare.gov. As we set up the exchanges, we’ll be watching closely, and we’ll fully support states if they exercise their review authority to keep excessively expensive plans out of their insurance exchanges.
None of this is designed to deprive insurance companies of fair rates. And as I mentioned when we were meeting with the CEOs, there are a lot of cost-drivers other than those that are within insurance companies’ control.
This is a pretty audacious strategy by Obama. Pass a law that makes insurance more expensive, and then blame insurers for the increase in costs.
Boston12GS| 6.22.10 @ 5:08PM
Oh, where to start . . . this is too rich.
So, now we're to believe that THIS president wants to promote "competition, transparency, and better deals".
Would this be the same President who sought to put the private health insurance industry in "competition" with the limitless power and bottom-less pockets of the Federal government?
Would this be the same President who "transparently" crafted the health care bill in secrecy from any opposition?
Would this be the same President whose policies, enacted years ago in Massachusetts, have resulted in my health insurance costs increasing by 50% in the last year alone? And that with a doubling of my deductible? WOW, what a "deal".
If it didn't hurt so bad, it would be funny. :-)
Big Java| 6.23.10 @ 10:03AM
Yes, this be he.
Mike Gabel| 6.22.10 @ 5:11PM
Notice the continued hypocrisy and attack on the private sector - requiring the CEOs to justify premium increases.
This, from an administration with a majority Congress who can't even prepare a budget.
Pete| 6.22.10 @ 5:29PM
I wonder if others in meetings with him take credit when he passes gas. Clearly, nothing is his fault or ever will be. It will be extremely satisfying (if the country remains as before, which is not certain) to read the volumes of books that will come out years after this Dbag is gone from office.
Jeff Perren | 6.22.10 @ 7:00PM
And the Feds have the moral and constitutional right to establish price controls why?
c. j. acworth| 6.22.10 @ 7:23PM
Next thing you know, Obama will expect BP to pay the compensation to oil workers thrown on the unemployment lines as a result of the drilling ban he ordered. Oh, wait...
Curly Smith| 6.22.10 @ 7:26PM
Those policies don't "offer more generous benefits", they provide more extensive coverage. Insurance policies don't provide "benefits", they manage financial risk. If you want more coverage then you have to pay higher premiums.
DrTomVoter| 6.22.10 @ 9:58PM
"Pass a law that makes insurance more expensive, and then blame insurers for the increase in costs." Come on, I saw this coming when they passed it and I am not that smart. Psst, here's the next step - drive them out of business or demonize them as greedy crooks so that there is really no compassionate option but to have the government take over completely.
Dixie Pixie| 6.22.10 @ 11:40PM
That does seem to be Don Obama's plan.
mr buddy| 6.23.10 @ 1:02AM
The states are who is failing @ setting up the insurance exchanges::Remember the senate wouldn't pass anti trust laws to allow for inter state commerce of insurance==up competition==lower premiums!!We need public option!!So needed to make it all work::The states are crying this year because their budgets are tight--Uncle Sam doesn't have a full wallet to carry them!!
Stan Redmond| 6.23.10 @ 10:44AM
We may as well be listening to Hugo Chavez.
Obama you are a liar. Obama you are a tyrant.