State may fine PacifiCare more than $1B (California)

[Dave020]

Ouch, that's gonna hurt!

State may fine PacifiCare more than $1B - Sacramento Business Journal:

Dave

 

[TXINSURANCE]

Ouch, that's gonna hurt!

Yeah hurt every members rates.

 

[Mr. Bill]

Hey, change that to UNITED HEALTH!!! (Although they still run as PacifiCare in CA).

I wonder how quickly Costco will run away...

 

[retread]

Something smells fishy here. 133,000 violations? That could be one violation times 133,000 members. UHC is eating humble pie, and if they co-operate will probably plead it down, as they say they expect it to be considerably less than $1.33 b., which is the maximum IF found guilty.

Perhaps a little political machinations going on? Mercy! Say it ain't so!

With revenues sinking like a lead balloon due to the dying economy, why wouldn't the state go after some deep pockets? Big brother carries a big stick!

 

[Dave020]

I'd say it is becomming evident that Steve Poizner has a major woodie for health insurance carriers. He just slapped Blue Shield with a $12.5M fine (probably will be reduced) for retroactive recission on mostly short-term health plans (which they don't sell anymore).

Cross got hit last year for the same thing and settled for $1M,but they were fortunate in that their portfolio fell under DHMC, not the DOI.

I guess Health Net and Kaiser are next?

Dave

 

[Colorado Newbie]

How is it that Mega is has never been hit with something of this magnitude?

 

[insuremojo]

How is it that Mega is has never been hit with something of this magnitude?

Mega is a little fish in a big pond.

 

[Colorado Newbie]

Mega is a little fish in a big pond.

Sometimes little fish can be the worst polluters

 

[Ahnuld]

I'd say it is becomming evident that Steve Poizner has a major woodie for health insurance carriers. He just slapped Blue Shield with a $12.5M fine (probably will be reduced) for retroactive recission on mostly short-term health plans (which they don't sell anymore).

Cross got hit last year for the same thing and settled for $1M,but they were fortunate in that their portfolio fell under DHMC, not the DOI.

I guess Health Net and Kaiser are next?

Dave

Can you say "Spitzer?" (Former AG now governor of NY). Spitzer's tactic: He exploited the threat of stock declines and business losses to force industries to change (Marsh & McLennan and AIG, lost a combined $38 billion in market capitalization). Poizner has his eyes on being Governor in 2011. Health insurance rates going up? Its the health insurers' fault, warranted or not. David vs Goliath. The perfect pabulum for a willing public to consume, go after the boogie man, make somebody pay.

A gullible or an apathetic public? Either way, we all lose when costs are passed on to compensate for corporate losses put upon them by the politically ambitious.

My health clients used to say when they saw me coming, "How're doing today?" Now when they see me they say, "How high are my premiums going up this time?"