Monday, October 12, 2009

Marriage of convenience between White House and Insurers is headed to divorce court

Uh oh, looks like the insurance industry is about to claim irreconcilable differences in their ill-fated union with the Democrats and Obama administration.  Ceci Connelly writes in the Washington Post the insurers plan to oppose the current health care reform with a report prepared by PriceWaterhouseCoopers warning that premiums for health insurance could cost $4,000 more than projected for a typical family by the year 2019.

The report was paid for by the American Health Insurance Plans.   Karen Ignani, President and CEO of the group informed board members of the specifics of the report on Sunday:
The report makes clear that several major provisions in the current legislative proposal will cause health care costs to increase far faster and higher than they would under the current system. The report finds that the proposal “will increase premiums above what they would increase under the current system for both individual and family coverage in all four market segments for every year from 2010-2019.”
For example, the analysis shows that the cost of the average family policy is approximately $12,300 today and will rise to:
  • $15,500 in 2013 under current law and to $17,200 if these provisions are implemented.
  • $18,400 in 2016 under current law and to $21,300 if these provisions are implemented.
  • $21,900 in 2019 under current law and to $25,900 if these provisions are implemented.
In fact, between 2010 and 2019 the cumulative increases in the cost of a typical family policy under this reform proposal will be approximately $20,700 more than it would be under the current system.
Nancy Ann DeParle dismissed the report claiming:
"Those guys specialize in tax shelters, clearly this is not their area of expertise."
Accounting is not one of the services offered at  PriceWaterhouseCoopers?  Aren't they the guys who tabulate the votes for the Oscars for the uber elites in Hollywood?  Wait for the smear campaign against PriceWaterhouse to begin in 3, 2, 1...

Considering the vote  to take BaucusCare from committee to the floor was scheduled for Tuesday, the timing of the report signals all gloves are off in the health care war over reform.  Things are about to get ugly.

For More See:
Scared Monkeys who also links this post
Pat at And so it goes in Shreveport
H/T: Memeorandum

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