Maine - Insurance Company Sues State To Approve 18% Rate Hike - Senator Snowe?

[TomCADem]

Apparently, $2.5 billion in profits was not enough for the insurer. The amazing chutzpah of the insurance companies is that if HCR does not pass, they will raise their rates, and if HCR passes, they will raise their rates. Worse, they have no fear, since they are willing to raise their rates in the home state of Olympia Snowe, because they know they own her vote, since she is a Republican.

I think Olympia Snowe's possible vote against the Finance Bill that she essentially drafted will just expose the hypocrisy behind the GOP's "concern" about health care reform, as Snowe essentially slaps her constituents in the face, as they are targetted with an 18% rate hike to fatten Wellpoint's profits.

http://www.alternet.org/politics/143089/wellpoint_sues_maine_to_guarantee_their_profits/

###

Now, WellPoint's affiliate, Anthem Blue Cross and Blue Shield, is suing the state of Maine for refusing to guarantee it a profit margin in the midst of a painful recession.

Anthem Health Plans of Maine, a subsidiary of WellPoint, is suing the state because they want to increase premium rates by 18.5% on their 12,000 individual insurance policy holders, so they can guarantee themselves a 3% profit margin. This story shows how silly it would be to solely rely on regulation to rein in insurance industry practices.

Brave New Films has put together a video exposing the practices of Anthem and its parent company WellPoint. You can send your friends in Maine the news about this lawsuit, to highlight this practice. Maine Superior Court will consider this case on Wednesday.

###

[Nikki Stone1]

1. This is what we have to look forward to once the state becomes partners with insurance companies.

No good options except Medicare for all.

[TomCADem]

3. So, Why Is AHIP Attacking Reform If It Is Such A Giveaway?

You would think that they would not want to jeopardize the bill getting out of committee if they really wanted the bill to pass.

[MiniMe]

4. In their opinion, it doesn't give them enough

[TomCADem]

5. Which They Could Fix On The Floor, Why Try To Kill It?

I understand the idea that Health Care Reform is really just a massive giveaway to insurance companies. Yet, if this is the case, why risk killing the entire bill before it gets out of committee?

Should we just assume that insurance companies are politically naive?

[DCKit]

9. Their plot to become richer than God will fail without mandatory insurance coverage.

Mandatory coverage, for everyone and a public option ONLY for those they don't want to insure - the sick and the elderly (and anyone who files a claim). The insurers wet dream privatizes the profits and socializes the costs of reform.

It's very simple: They want the same deal the banks and Wall St. got.

[Captain Hilts]

2. Yes, what do Snowe and Collins think about this?

[TomCADem]

7. Well, She Is Voting For The Bill

I am impressed. I was sure she would side with Wellpoint and other insurers against her constituents.

[earth mom]

6. So now they are going the legal route to see how far they can go to rip us all off?

God Damn MO FOS!!! :grr:

[TomCADem]

8. Yeah, According To The AHIP Report

I thought they were not going to raise rates until after the HCR is enacted. This just goes to show that without a bill, the health insurance industry would still be price gouging the public.