Posted on 05/18/2010 1:05:26 PM PDT by Nachum
The Boston Globe: Four of Massachusetts largest health insurers posted first-quarter losses with three blaming Gov. Deval Patrick's rate increase caps for the bulk of the financial hit that totaled more than $150 million.
"The carriers attributed $116 million of their $152 million in losses to the April 1 ruling by the state Division of Insurance to deny most proposed premium increases for the so-called small-group market.
(Excerpt) Read more at kaiserhealthnews.org ...
They will do as they did in Maine....leave
No mon, no fun,
No premiums, no claims
bump
They’re a little slow, they should already be on their way out of the state.
See Kids, thats what happens when Government tells people how much they can sell a product for.
They’re hoping for a change in the climate.
Auto insurers, including All State, (dubbed “All but one State”) left Massachusetts in droves under Dukakis, eventually reality returned and they were allowed to charge reasonable rates. The insurance companies figure that the state will have to come to their senses since the state clearly is not prepared to become an insurance underwriter.
They will do as they did in Maine....leave
why....why...why...ttthat would create a CRISIS! The GOVERNMENT would have to step in! Single Payer! Single Payer...yeah, yeah, yeah, Single Payer..heh, heh, heh....
(like Mitt didn’t know....)
I suspect you're right, but it effectively lets the state conceal the problem while it gets fixed, so they never have to answer to the voters.
By leaving the state high and dry, the pols will have to explain why no one can get insurance to the voters, and face their wrath.
Insurance companies aren’t trying to make a statement, they’re trying to make a profit.
Economics is not hard.
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