You don’t have to look far for news stories about our federal government denouncing medical insurance companies for “double-digit” rate increases.
Although government lacks the real-world experience to be able to say what the “correct” rate is that an insurer should charge, Washington used demagoguery against rate hikes to pass ObamaCare socialized medicine. Many people, convinced by liberals in Congress that they were being mistreated by “greedy” insurers, urged Congress to “do something” – and it did.
But that raises a painful question for which the liberals who wanted ObamaCare have no good answer: To whom should the American people turn when it is government-coordinated medical care that sharply increases the rates they must pay?
We spotted this passage in a recent article by The Associated Press: “Millions of seniors face double-digit hikes in their Medicare prescription premiums next year unless they shop for cheaper coverage. A new analysis of government data finds that premiums will go up an average of 10 percent among the top plans that have signed up some 70 percent of seniors.”
“Beneficiaries are really going to have to reassess their plans for next year,” the head of the firm that did the analysis told the AP.