Suffolk Superior Court Judge Stephen Neel has promised to rule by close of business today on whether or not insurance companies in the state can move forward with planned rate increases.
Now the nonprofit insurance companies in the state are losing millions and are in a situation where they cannot afford to keep insuring people without enacting a rate increase. And the state is in a situation where they are trying to force these companies to do business in the state.
It is a dangerous think when we have politicians who don’t have a clue about economics, trying to legislate things to be they way they want. Hey, why don’t we make a law saying health insurance is free, and another saying everybody is entitled to earn at least $100,000/year. Er, actually we seem to be already headed that way…
As a result of health care reform passed under Governor Mitt Romney, Massachusetts has the highest medical cost and health insurance rates (and the longest waits to see a doctor) of any state in the nation. And unfortunately for us, the federal health insurance reform bill was based largely on what they did in Massachusetts.