Did Democrats really think there would be no rate hikes due to their monstrous legislation, which most probably didn’t read? Health insurers say they plan to raise premiums for some Americans as a direct result of the health overhaul in coming weeks, complicating Democrats’ efforts to trumpet their signature achievement before the midterm
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Some Insurers To Raise Rates As Direct Result Of ObamaCare
Hey, remember back in March when the Democrats’ chief inquisitor on Capitol Hill, Henry Waxman, announced plans to haul up corporate executives who dared to speak the truth about the dire cost consequences of the federal Obamacare mandate? Flashback March 3,1 2010: Now, Waxman is targeting the heads of Deere, Caterpillar, Verizon and AT&T with “invitations” they can’t refuse to testify at an April 21 hearing on their public statements regarding Demcare-caused writedowns. Waxman’s fishing expedition letters sent out last week “asked” the company heads to produce copious documentation. Business execs are damned if they do disclose how the costs of the new federal health care taxes will hit their bottom line and damned if they don’t. If they stay silent, they’ll be violating Securities and Exchange Commission disclosure requirements passed by Congress after the Enron scandal. If they talk, they’ll be paraded in front of the camera like those poor tobacco heads Waxman waxed more than 15 years ago. Who’s next? On Monday, Prudential said it would take a $100 million charge in the first quarter thanks to Demcare. In Colorado, the Steamboat Ski and Resort Corp. said the health care law will cost $2 million a year starting in 2014. AK Steel Corp., 3M and Valero Energy have all announced similar writedowns. At this rate, if Waxman insists on hauling up every last truth-teller in the marketplace, he’ll be holding an inquisition-a-thon a day. And that would suit the Witch Hunter of Capitol Hill just fine. If he isn’t meddling, he isn’t working. And if he isn’t using his powers to bully, bulldoze or bankrupt his enemies, he is failing the gods of progressivism. Waxman backed off, but as I warned, it was only a temporary reprieve. The truth about Obamacare’s all-too-predictable, real-world consequences keeps coming out and it won’t be long before desperate Dems try to squelch the Obamacare revolt again. Go ahead, Henry. Double-dog dare you. Via the WSJ : Health insurers say they plan to raise premiums for some Americans as a direct result of the health overhaul in coming weeks, complicating Democrats’ efforts to trumpet their signature achievement before the midterm elections. Insurers say they plan to raise premiums on some Americans due to the health overhaul, complicating Democrats’ efforts to trumpet their signature achievement before elections. Janet Adamy and Evan Newmark discuss. Also, Justin Lahart discusses the two-track economy for American business, with global players getting boosts from fast-growing foreign markets, while companies focused on the U.S. market are hamstrung by recession-scarred consumers. Aetna Inc., some BlueCross BlueShield plans and other smaller carriers have asked for premium increases of between 1% and 9% to pay for extra benefits required under the law, according to filings with state regulators. These and other insurers say Congress’s landmark refashioning of U.S. health coverage, which passed in March after a brutal fight, is causing them to pass on more costs to consumers than Democrats predicted. The rate increases largely apply to policies for individuals and small businesses and don’t include people covered by a big employer or Medicare. About 9% of Americans buy coverage through the individual market, according to the Census Bureau, and roughly one-fifth of people who get coverage through their employer work at companies with 50 or fewer employees, according to the Kaiser Family Foundation. People in both groups are likely to feel the effects of the proposed increases, even as they see new benefits under the law, such as the elimination of lifetime and certain annual coverage caps. Many carriers also are seeking additional rate increases that they say they need to cover rising medical costs. As a result, some consumers could face total premium increases of more than 20%. Flare your nostrils. Wave your gavel. Try to bully them into silence, Chairman Waxman. Dissent must be silenced!
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Go ahead, Henry Waxman: Launch another Obamacare witch hunt
Marco Rubio will not be debating Kendrick Meek on Meet the Press Sunday. Miami, FL –
**Written by Doug Powers Most of us are fully aware that the Health Care Bill will inevitably lead to rationing (it already has ), but because these unpopular power and money grabs have put districts into play for Republicans that were once thought safe, it’s also leading to a rationing of campaign funds for the Democrats : Democratic Congressional Campaign Committee Chairman Chris Van Hollen sent a cold-blooded message Friday to underperforming party candidates: Get your act together, or you’re on your own. Facing a perilous political environment that has left the House Democratic majority in jeopardy, Van Hollen told reporters in a briefing at the National Press Club that the party faced a series of looming difficult decisions about which candidates to invest in this fall — and who to leave behind. “At the end of the day, the Democratic Congressional Campaign Committee will look at races we can win,” Van Hollen said. If not enough Dems heed that warning, the follow-up message will be, “Hey, get your s*#t together or we’re sending Obama to campaign for you when and if he gets back from vacation!” Now that ought to do it . Speaking of presidential vacations, here’s your photo of the day . **Written by Doug Powers Twitter @ThePowersThatBe
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More Proof That Obamacare Leads to Rationing
The Summer of Wreckage turns to fall… Children’s Hospitals plans to cut up to 250 jobs – “The provider — with campuses in Minneapolis and St. Paul — said Wednesday the down economy is forcing more children to rely on Medicaid.” Nearly 400 StarKist Co. cannery workers lose jobs – “StarKist has had to contend with federally mandated minimum wage increases. Butler says other costs are also rising in such areas as utilities and transportation.” Northrop Grumman announces more layoffs – “The Los Angeles-based company said it would reduce its work staff by 642 at its shipbuilding operations in Pascagoula, Miss., or about 5.8% of the facilities total workforce. That follows a notification earlier this month that it would layoff 300 employees at its facilities in Avondale, La., and Tallulah, La.” Janitors protest layoffs in LA’s Century City – “Los Angeles police spokesman Richard French said about 300 people rallied outside JP Morgan Chase-owned Century Plaza Thursday afternoon and 13 were arrested for allegedly blocking traffic. He says the arrests were without incident. The custodians and their supporters from SEIU United Service Workers West called on JP Morgan to rehire their cleaning staff.” Layoffs hit employees at county job center – “A Cumberland County government office that helps people find work is itself laying off eight staff members this fall, and the number might have been higher.” Meriter: Public program shortfalls force job cuts – “Meriter Hospital said it’s not immune to the tough economy, laying off 57 employees…Meriter said it expects to lose about $57 million in 10 years once Health Care Reform is in place.” 13 States That Just Got Slammed With Massive Layoffs – “We’ve mined through to find the states with the most massive layoff events. A massive layoff event means 50 employees have filed for unemployment within 5-weeks, all from the same company. We’ve also highlighted July’s initial unemployment claims, and examples of layoffs hitting each state.” 10 Leading Retailers Close Stores; Exodus of Small Retailers Amidst Signs of “Free Rent”; 700,000 Drop Cable TV Subscriptions – “Signs of weak consumer discretionary spending are popping up in multiple places.” *** FYI: I’ve created a new category called the “Obama Jobs Death Toll.” Just click on the link for the running archive. Keep sending your story tips and I’ll continue keeping track. *** Related: Weak GDP raises stakes for Obama, Fed – Growth figures are expected to show the economy is almost at a standstill, but the government is running out of options to rebuild momentum.
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Obama jobs death toll: Layoffs, layoffs, layoffs
Grim reaper photoshop credit: Manly Rash I said yesterday in my Beltway Chainsaw Massacre column that the GOP needs to track the Obama jobs death toll and tell the victims’ stories far and wide. But there’s no need to wait for the GOP. I’ll keep doing it right here. The first story of the day comes from the Fort Worth Star Telegram in Texas, where a health insurer called Health Markets has laid off 70 workers and expects up to 180 more as it braces for the costs of Obamacare and other government mandates: HealthMarkets, the North Richland Hills-based seller of health insurance, laid off 70 employees this month and expects to trim 180 more positions by the end of the first quarter of 2011, according to a recent federal filing. In the Securities and Exchange Commission filing, HealthMarkets blamed the layoffs on “dropping enrollment levels experienced by the company’s insurance subsidiaries,” along with national healthcare reform and “related legislative developments.” HealthMarkets provides insurance plans to the self-employed, individuals and small businesses. The second story of the day comes from the Worcester Telegram in Massachusetts, where a local hospital will slash about 50 full-time jobs: About 50 full-time jobs will be eliminated at the HealthAlliance Hospital — Leominster Campus, and one of two planned expansion projects may be cut back. Mary Lourdes Burke, chief communications officer for the hospital, said yesterday the job cuts do not mean 50 layoffs, because some were vacant positions that will not be filled, and some were positions that had hours reduced. Also, she said, some union contracts required moving employees into other posts. …Ms. Burke attributed the cuts to health care reform, with its reductions in Medicare and Medicaid reimbursements, along with cuts in private health insurance reimbursements and increasing co-payments for patients…David F. Duncan, hospital vice president for facilities, told the City Council earlier this year that the design may be scaled back because the new federal health reform law discourages emergency room visits. …In addition, he said, health care reform is expected to result in the loss of $24 million in Medicare reimbursements, out of $170 million total, starting in five years. The state’s health insurance reform laws, on which the national model is based, have already resulted in at least that much in losses, Mr. Muldoon said. Ho, ho, hey, hey. How many jobs did O destroy today?
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Obama jobs death toll watch: More health care layoffs
