Mass Decision Coming Right Up

[Norwayguy]

Also, in regard to "case closed." It will not be closed until it goes up through the appeals courts. This is true regardless of which side wins. Although, if the state loses (and the libs are still in charge in Mass, which they are) they may find it easier to just amend the law to whatever they want.

What a mess.

So true Winter...The Mass Legislature has recent experience in changing the laws concerning the Govenors right to appoint an interim Senator upon that Senators passing ie Kennedy.
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Not maybe running, he will be.

Actually, Charlie Baker (the leading Repub challenger, and a guy I went to high school with - he was a nerd - guess that's why he's running for Gov) was President of the Harvard Pilgrim HMO. The Mass health market is dominated by four "local" HMOs. They can't easily just "bail out" of the market without being out of business.

The two "non-domiciled" carriers (Aetna and Celtic) got the rate increase they requested.

Very little doubt that Deval Patrick's action was politically motivated.

Any idea what this does to those domiciled carriers and their workforce...You would think Havard pilgrim and the like will be putting out memos big time to their workforce....This could come back to bite Duval big time....hey wasn't he and obama best of buds

 

[Winter_123]

The DOI has the ability to levy fines, but those fines can be appealed. In the interim, there is no reason to expect the carriers to play ball if it means losing money by selling this years plans at last years rates.

Pay no attention to the elected official behind the curtain . . .

Yep. But over time both the states and feds will wire carriers in. Much like MA's if you are in, you are in for the year etc. In addition, "cherrypicking" is one of Obama's favorite words. As we go forward he will use the cherrypicking rationale to make sure that carriers doing business in xyz state must do business in all states in xyz region or whatever the criteria is which will make you think twice about pulling out of dog markets.

Of course, in the future. If Mass loses its plans their residents can just buy one from North Dakota or whatever.

What a mess.

 

[somarco]

Over regulation and excessive taxation (along with other factors) has killed a lot of industry over the years. Most manufacturing is now done in other countries and thanks to the internet, a lot of service business is as well. Every time Washington get's another bright idea on ways to raise revenue and help consumers more jobs die and with them go the taxes that would have been collected.

We are looking at the micro side of this and how it affects us as producers. The carriers don't care about being in the health insurance business except for the cash flow. If too many strings are yanked they will pull out and Obaba will be left standing with his pud in his hand.

 

[Crabcake Johnny]

Currently, a family in their 40's in MA buying the bronze plan with an income of $56,000 a year would spent about 25% of their take home pay on mandatory health insurance. With 15% annual rate hike, after 5 more years, health insurance would be 40% of their take home pay. It's unsustainable and it WILL crash and burn.

Ask any household that is good with their finances, earning $60,000 gross if they save $1,000 a month.

 

[somarco]

Don't forget the Obababux that will be used to subsidize the premiums for a while. What is really going to be fun is to see how DC handles the subsidies then slaps you with a Cadillac plan tax because your premiums are so high due to Obabamandates on coverage.

 

[Crabcake Johnny]

It's going to be much more fun for the "Cadillac Liberals" to find out what their new premiums will be come 2014. Let's see how much "change" they want after they see their premium notice.

 

[Winter_123]

. If too many strings are yanked they will pull out and Obaba will be left standing with his pud in his hand.

That's his plan anyway. "We tried working with the carriers but all they wanted to do was raise rates and cherrypick."

Single payer.

 

[Crabcake Johnny]

Why would Obama care? None of this will hit the fan until he's a lame duck president and he'll simply blame the failure on the "greedy insurance companies."

 

[somarco]

Lame duck will be served starting in 2011 . . .

 

[Crabcake Johnny]

Anyone think that all of this taking effect in 2012 was an accident? Guess again.