Senator Harkin said he will move on legislation to control insurance rate premiums:
Fearing that health insurance premiums may shoot up in the next few years, Senate Democrats laid a foundation on Tuesday for federal regulation of rates, four weeks after President Obama signed a law intended to rein in soaring health costs.
The proposal he likes is for the Health and Human Services secretary to block any rate increases she finds “unreasonable.”
Why do they need to approve rate increases if their health care reform will reduce costs, as they said it would?
Why aren’t they trying to address the actual reasons for insurance rate increases, which are increases in health care costs?
Well, Feinstein answers that for us.
Mrs. Feinstein said her bill would close what she described as “an enormous loophole” in the new law. And she said health insurance should be regulated like a public utility.
“Water and power are essential for life,” Mrs. Feinstein said. “So they are heavily regulated, and rate increases must be approved. Health insurance is also vital for life. It too should be strictly regulated so that people can afford this basic need.”
It’s about control. Period. Nothing more, nothing less.