Thursday, February 18, 2010

Wellpoint....Well Beyond Point of Honesty

The Star reports that legislators grilled Wellpoint personnel today over average rate hikes of 21% for over 100,000 Hoosiers who own individual policies.

Herein lies the problem with the Republican counter to the Obama plan. There isn't one. Without action, expect premiums to explode as well for employers even though many insurance companies continue to post record profits.

I've never understood Republican blind faith in "the market." When Wellpoint decided to hold off on rate increases, it wasn't because "the market" dictated that result; it was because of political pressure. Respectfully, if my options are A Republican-endorsed unrestrained insurance industry kicking pregnant moms out of hospitals and jacking up rates 39 percent in California, I'll take a Democratic-led effort to create a Patients' Bill of Rights and the threat of further intervention.