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Health insurers sue to raise rates Say state’s veto will cause huge losses
Boston Globe ^ | April 6th 2010 | Robert Weisman

Posted on 04/07/2010 4:02:50 AM PDT by Cardhu

A half-dozen health insurers yesterday filed a lawsuit against the state seeking to reverse last week’s decision by the insurance commissioner to block double-digit premium increases — a ruling they say could leave them with hundreds of millions in losses this year.

The proposed rate hikes would have taken effect April 1 for plans covering thousands of small businesses and individuals. Insurers wanted to raise base rates an average of 8 percent to 32 percent; tacked on to that are often additional costs calculated according to factors such as the size and age of the workforce.

Yesterday’s legal action sets the stage for a showdown between state regulators and the health insurance industry.

(Excerpt) Read more at boston.com ...


TOPICS: Extended News; News/Current Events
KEYWORDS: deathcare; healthcare; insurancerates; nothealthcare; romney; romneycare

1 posted on 04/07/2010 4:02:51 AM PDT by Cardhu
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To: Cardhu

It’s begun.
What this Administration sees as a class war has begun.
THis is the beginning of a potentially endless series of
chaotic repercussions that is just what this Wild Bunch sees as ‘necessary’, but has NO way of gauging the disastrous fallout from: American people, and all especially who voted for these fools, brace yourselves:
this is just the beginning of the chaos of 2010.


2 posted on 04/07/2010 4:17:47 AM PDT by supremedoctrine ("Every election is like an advance auction sale of stolen goods"--H.L.Mencken)
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To: Cardhu

My company is giving serious thought to dropping health coverage. Can’t afford the premium hikes that will come.

Of course, the union will blow a gasket, but that is life.


3 posted on 04/07/2010 4:24:23 AM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: Cardhu

Atlas should shrug and cut the benefits. WAY down.


4 posted on 04/07/2010 4:25:18 AM PDT by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: supremedoctrine

Massachusetts is a joke but why stop there, let’s get the rest of the country in on it too. Then the world......


5 posted on 04/07/2010 4:26:25 AM PDT by Boardwalk
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To: Cardhu

BUT...BUT.....

I thought that passing Obamacare was supoosed to LOWER the cost of premiums!

Why that dirty BUSH did it again!


6 posted on 04/07/2010 4:29:07 AM PDT by PSYCHO-FREEP ( Give me Liberty, or give me an M-24A2!)
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To: Cardhu

Bankrupt Health Insurance companies will bring SINGLE PAYER SYSTEM. This is the ObamaManiac’s goal!


7 posted on 04/07/2010 4:33:11 AM PDT by broken_arrow1 (I regret that I have but one life to give for my country - Nathan Hale "Patriot")
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To: Cardhu
But... But... But... obama promised on his grandmother's grave that it would lower premiums... you know... the granny he threw under the bus.

LLS

8 posted on 04/07/2010 4:33:14 AM PDT by LibLieSlayer ( WOLVERINES!)
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To: PSYCHO-FREEP

The TRUE intent of Obamacare ALL ALONG was to PUT the insurance companies OUT OF BUISNESS...so the government can be the SINGLE PAYER.


9 posted on 04/07/2010 4:38:24 AM PDT by Moby Grape (Formerly Impeach the Boy...name change necessary after the Marxist won)
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To: Moby Grape

Obviously......That, and take over every aspect of private enterprize. Redustribute wealth, create a singular “Middle Class” Utopia. (Right out of Karl Marx.)


10 posted on 04/07/2010 4:54:57 AM PDT by PSYCHO-FREEP ( Give me Liberty, or give me an M-24A2!)
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To: Cardhu

um, um, um...
Barack Hussein Obama


11 posted on 04/07/2010 6:30:34 AM PDT by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
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