Breaking about 2 hours ago is news that Obama's healthcare plan to be released tommorow will contain new Federal authority to directally control premium increases that the insurance companies try to get away with:
President Barack Obama wants to give the federal government sweeping new authority to curb exorbitant rate hikes by the nation’s health insurance companies, an White House official said Sunday night – a proposal designed to win over skeptical voters as Obama announces his own health insurance legislation for the first time Monday.
http://www.politico.com/...
More below..
I don't think people understand how significant this is. Neither the house bill or senate bill has anything resembling this, and you could make a damm good argument that this would be better than a public option. There are european countries that use a mostly private insurance system but they haver cost control authority given to the government. What the WH is proposing is giving the federal government authority to stop premium hikes altogether if they're excessive, and to even rollback increases that have already happened. Furthermore, the governement will also have the authority to force the insurance companies to reimburse consumers their money if they haven't met the required medical-loss ratios. This is basically direct regulation of premiums and is, when compared to the current legislation, a radical change to the system.
This is big guys, and it will force the republians to expose themselves for what they are. Corporatist pigs. It will also force conservadems to finally show their true colors as well. That being said, this new policy is similar to the Volcker rule for financial regulation (i.e.because it goes to the heart of the industry's shenanigans, there will be a massive lobbying push to defeat it).
Either way, Bravo Mr.President, now fight for your proposal.