We're showing you the future of Obamacare, right here in Massachusetts. Boston Globe: "Health insurers sue to raise rates."
A half-dozen health insurers yesterday filed a lawsuit against the state seeking to reverse last week’s decision by the insurance commissioner to block double-digit premium increases - a ruling they say could leave them with hundreds of millions in losses this year.Oh those greedy, greedy insurance companies:
Three of the largest state health insurers - Blue Cross-Blue Shield of Boston, Tufts Health Plan of Watertown, and Fallon Community Health Plan of Worcester - posted operating losses for 2009.My magic 8-ball says: "For 2010 also." And this was the "Trojan Horse" that we all warned you about, the "camel nose under the tent." The vilified private insurance companies will not be able to make a profit with restrictive regulations that undermine their ability to assess risk and the inability to adjust premiums to their costs. What will fill the void when all the insurance companies close up shop? A government-run program.
Extra - From Hot Air.