Massachusetts Implosion in 5...4...3

[Crabcake Johnny]

Massachusetts Insurance Regulators Reject Most Requests for Higher Rates - NYTimes.com

Carriers were looking for 7 to 34%? What they got? Denied.

"Small businesses cheered the state's intervention, but health insurers predicted disruption in the marketplace, including voided contracts and legal challenges."

And pay attention to this ladies and gentleman:

"Lora M. Pellegrini, the president of the Massachusetts Association of Health Plans, called the denials "a very reckless act" and warned that insurers on thin margins might have trouble paying claims. Three of the state's four largest health insurers reported operating losses last year."

 

[Norwayguy]

Massachusetts Insurance Regulators Reject Most Requests for Higher Rates - NYTimes.com

Carriers were looking for 7 to 34%? What they got? Denied.

"Small businesses cheered the state's intervention, but health insurers predicted disruption in the marketplace, including voided contracts and legal challenges."

And pay attention to this ladies and gentleman:

"Lora M. Pellegrini, the president of the Massachusetts Association of Health Plans, called the denials "a very reckless act" and warned that insurers on thin margins might have trouble paying claims. Three of the state's four largest health insurers reported operating losses last year."

Sounds like they took a look at what Maine has done now for 2 years to Anthem....

 

[somarco]

You will note that all of the non-domiciled, for profit carriers got their approval. It was only MA domiciled carriers that were denied.

The article hints the denial was politically motivated.

I am shocked.

Wonder how the Massachutians will feel when the carriers just decide they won't play ball any more?

 

[Winter_123]

Massachusetts Insurance Regulators Reject Most Requests for Higher Rates - NYTimes.com

Carriers were looking for 7 to 34%? What they got? Denied.

"Small businesses cheered the state's intervention, but health insurers predicted disruption in the marketplace, including voided contracts and legal challenges."

And pay attention to this ladies and gentleman:

"Lora M. Pellegrini, the president of the Massachusetts Association of Health Plans, called the denials "a very reckless act" and warned that insurers on thin margins might have trouble paying claims. Three of the state's four largest health insurers reported operating losses last year."

Indeed this is so, as noted in the post on Mass Price Controls.

Now for the good news, I heard Obama say that he had to enact the health care bill to get the national debt under control.

Okay fine.

 

[Crabcake Johnny]

Something's going to give, and very quickly:

A) Carriers get the rate increases - 7% to 34% which will force many to drop their coverage and incur a fine

B) Carriers start leaving the market

C) Big pay cuts for hospitals and physicians

But keep following along since what MA. implemented in 2006 is almost identical to the legislation that was just passed.

 

[HealthGuy]

And then John: The FINAL ACT: The same retards who voted in these commies scream and we get single payer.

 

[Winter_123]

Something's going to give, and very quickly:

A) Carriers get the rate increases - 7% to 34% which will force many to drop their coverage and incur a fine

B) Carriers start leaving the market

C) Big pay cuts for hospitals and physicians

But keep following along since what MA. implemented in 2006 is almost identical to the legislation what was just passed.

Indeed to all of the above. The other major thing that is going on is that many folks, including some here, are focused on coming minimum required claims payouts. In reality both the states and the feds are moving to control and prevent premium increases. If you cap the premiums but have done nothing for cost control, then you minimum (and more) payout is achieved right off or sooner than whatever it says in the bill.

Change you can believe in.

 

[Crabcake Johnny]

In the end what's going to stagnate is innovation. New and improving technology makes up for a least a portion of rising medical costs.

When they really start turning the screws the first thing out the door is new medical technology.

 

[Norwayguy]

Did you catch the part that stated the average Mass Residents Hospital costs were 55% HIGHER than the national average. Also not in this article but was in previous reports the average wait time to get in to see a doctor has rise to 45-60 days

 

[somarco]

C) Big pay cuts for hospitals and physicians

Won't happen.

The requested rate increases were predicated on recently negotiated contracts.

That leaves A & B.

New and improving technology makes up for a least a portion of rising medical costs.

True, but not that much.

Biggest factor in renewal action is utilization which is through the roof.