Categories: Featured News

Is Obama Starting To Act Like Teddy Roosevelt?

President Obama seems to have a hint of President Theodore Roosevelt in him, here.  President Theodore Roosevelt stood with American families and small business when he took on the monopolies and trusts. It seems that President Obama is doing the same with health insurance companies.  We must hold these companies accountable

If you are the CEO of Blue Cross/Blue Shield and you want to increase premiums 10% or more, you are going to have to answer to the people in 2011.

President Obama and many others know that health insurance premiums are hindering growth in our economy more than any other cost of doing business.  This is why he has taken the steps to ensure we hold them accountable when they decide to jack up the rates on our families and small businesses. 

According to Kathleen Sebelius, Sec. of health and human services, health insurance premiums for a family has increased 131%  since 1999. 

Under the proposal , the flagged premium increases would be subject to review by the State and in some cases the federal government, to determine whether they a reasonable or unreasonable. 

The rule applies to insurance policies sold to individuals and small businesses. Evidence suggests that over the last 3 years, insurance premiums have increased more than 10% each singular year.

The insurance lobby has tried to justify the rate increases.  Some have said that younger people are dropping coverage, leaving fewer dollars to cover the the pool of older and sicker policy holders.  This is partly due to the recession and the lack of full time work in the job market.

Before my conservative readers have a fit over the government dictating how much your premiums should be, here is the fact.

This rule doesn’t give authority to the federal government to cap premiums. Hopefully what it does do, is increase public scrutiny on the justification of rate increases.  Public pressure works wonders.

The HHS has said, several factors weight into determining if rates are unreasonable, including whether the insurer is spending at least 80% of it’s revenue on medical costs.  If rates are above the threshold, the insurer has to post the  increases on their website and if the rates were deemed unreasonable, they have to post that fact as well, in addition to explaining why the increases are so high.

This is good news,  for small businesses and working families.  I have always believed the role of government should be to protect it’s citizens both physically from foreign threats and economically.

 Hopefully President Obama continues in Teddy’s footsteps going forward into 2012, it will make us stronger as a Country and it will make him a stronger candidate.

View Comments

  • It is American tradition to buy what is viable and fairly priced. Given the fact that there is no longer competition in the healthcare industry, you must pay what is thrown at you or go without.

    My question to "conservatives" is why do you not demand competition as opposed to worrying about the government getting involved in vastly overpriced insurances that are not available to a very large group of Americans. I know why, the tea party and the republicans do not want you even knowing there is no competition.

    "Conservatism" IS what is asked for above. The demand for competition, fair pricing and availability. Those 3 items allow for job creation.

    I have no problem with the government getting involved when the corporate world gouges people. No problem what so ever. Especially when the corporates could have avoided it by allowing competition and fair pricing. If "conservatives" support 131% raises in pricing and do not expect the government to get involved, they arnt thinking conservatives nor are they acting very American.

    • They did studies and the studies showed that Americans would LIKE the notion of healthcare reform for precisely that reason so they decided to use a term Americans are averse to in order to sell the idea that healthcare reform was bad, and that was "government take over".

      Yes, healthcare reform was created in a way so as to offer competition among PRIVATELY owned insurance companies, etc -- which is as free market as you can get. But "free" makes Americans feel good and the Republicans couldn't have that so they misnamed it the lie of the year and got away with it once again.

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