Mr. Giller also informs this column that in more than half the states, insurance companies are strictly accountable to the government of the state in which they operate, forbidden from raising rates without specific approval. Furthermore, insurance companies are bared from raising one person’s health insurance policy premium without first raising the premium for the entire underwriting category to which that person belongs. Additionally, “most states review all rate increases according to the loss ratio standards,” (which means that the state not only reviews to make sure the rate is not too high, but also to ensure that the rate is high enough to pay the expected claims), confirms this government actuary.
"Because if this vote fails, the insurance industry will continue to run wild in America,” said Mr. Obama. But the reality is that the insurance industry is among the most regulated business sectors in America. The only species “running wild” in this country currently is the Democrats in Washington, so intoxicated with power, so consumed with their own importance, so recklessly devoted to their far left agenda that they believe they are accountable to no one. And so far, they haven’t been held accountable; very few in the press corps have been willing to request supportive evidence of their outlandish claims.
Obama also accused insurance companies of doing what he, Speaker Pelosi and Senate Majority leader Harry Reid have been doing all along – engaging in fear mongering. “That’s why their lobbyists are stalking the halls of Congress as we speak. That’s why they’re pouring millions of dollars into negative ads. That’s why they’re doing everything they can to kill this bill." No, they weren’t. This health-care bill is forcing millions to buy health insurance from the very companies Obama says don’t want the bill.
Among the other outrageous claims by Obama is that there is half a trillion dollars lost in “waste, fraud and abuse” of Medicare. But if there really is half a trillion dollars of waste, fraud and abuse in Medicare, then why didn’t Obama find it last year and use those funds instead of the piles of taxpayer cash that were consumed by his failed stimulus bill?
Obama’s health-care bill includes funding for over sixteen thousand new Internal Revenue Service agents to make sure everyone is covered. Think about that for a moment. Seem a little strange to you? If Americans really needed his brand of “health-care reform,” why does Obama think he would need the IRS to enforce it?
Now that it has passed, Obama is prepared to spend millions more in taxpayer dollars touring the country to convince us just how lucky we are that he got his bill through Congress.
Stay tuned for more great policy initiatives; Obama has now turned his attention to his Cap and Trade tax bill, which will attack the energy industry on the basis of saving us from global warming. By design, it will make energy a vastly more expensive commodity for all Americans. And really, in this recession, who could ask for anything more?
If anyone believes Obama’s willingness to tell any lie – no matter how outrageous or divorced from fact – will be restrained by the mounting evidence that global warming as a man-made issue is a hoax, need look no further than his just concluded successful campaign to distort a debate as black and white as insurance law.