Fox News Scolds WellPoint Rate Hike, Not For Hurting Consumers, But For Energizing Health Reform Advocates
Posted in Main Blog (All Posts) on February 16th, 2010 5:36 am by HL
Fox News Scolds WellPoint Rate Hike, Not For Hurting Consumers, But For Energizing Health Reform Advocates
California Anthem Blue Cross Blue Shield, a subsidiary of health insurance giant WellPoint, announced recently that it would be hiking premiums for customers in the individual market by up to 39 percent. The looming hike unleashed a firestorm of criticism, and provoked two Democratic lawmakers to launch congressional probes into the matter. Even a spokesman […]
California Anthem Blue Cross Blue Shield, a subsidiary of health insurance giant WellPoint, announced recently that it would be hiking premiums for customers in the individual market by up to 39 percent. The looming hike unleashed a firestorm of criticism, and provoked two Democratic lawmakers to launch congressional probes into the matter. Even a spokesman for Minority Leader John Boehner (R-OH) was compelled to feign concern, telling reporters, “If the argument is that the WellPoint hike means we need reform, well, ‘duh.’”
Earlier today on Fox Business, WellPoint VP Brad Fluegel appeared to discuss the hikes. Fox hosts Charles Payne and and Stu Varney lashed out at WellPoint for increasing rates just when “it was safe to get out of the healthcare debate.” The hosts were uninterested with how the increasing rates would affect customers and struggling families in California. Instead, the pair attacked Fluegel for re-energizing advocates for health reform. Payne groaned, asking Fluegel why he didn’t “take Wall Street’s lead” and “wait for this to blow over and maybe a year from now try to hike rates”:
PAYNE: But Brad this is like Jaws 2, just when you thought it was safe to get out of the healthcare debate, you brought everybody back into it. […] Didn’t someone though, wasn’t there a committee that said listen, let’s take Wall Street’s lead, do the minimum we can, wait for this to blow over and maybe a year from now try to hike rates?
VARNEY: You handed the politicians red meat at a time when healthcare is being discussed. You gave it to them! […] You couldn’t see this coming? I mean really, you couldn’t see this coming? […]
VARNEY: You actually did make a net in that quarter in twleve weeks, you made what, $500 million net profit didn’t you? You tell that to a politician and they’re going to say, ‘you made a half billion dollars in twelve weeks and now you put the price up 25%.’
Watch it:
HCAN has responded to the WellPoint rate hike by releasing a report demonstrating how premium increases have been feeding insurer profits, not paying for health care costs. “The report finds that the top five largest for-profit insurance companies increased their profits by $12.2 billion last year while dropping coverage for 2.7 million Americans.“ Pending the investigation and a review from the California Insurance Commissioner, WellPoint has postponed the hikes until May 1, 2010.
At the end of the interview, the Fox hosts chuckled with the WellPoint VP. They apologized for being so harsh and warmly reminded Fluegel that their criticism of insurer profits was only meant to be “warm up” for Rep. Henry Waxman’s (D-CA) investigation. “You did very good,” cooed one of the cohosts.
Sen. Evan Bayh (D-IN) to retire.
Media outlets are reporting that conservative Sen. Evan Bayh (D-IN) has decided against running for a third term this year, a move that comes “as a surprise to Democrats in his state who had already started working on his campaign.” In prepared remarks that he will give at a 2 p.m. press conference today, […]
Media outlets are reporting that conservative Sen. Evan Bayh (D-IN) has decided against running for a third term this year, a move that comes “as a surprise to Democrats in his state who had already started working on his campaign.” In prepared remarks that he will give at a 2 p.m. press conference today, Bayh cites his frustration with the stalemate in Congress:
“Two weeks ago, the Senate voted down a bipartisan commission to deal with one of the greatest threats facing our nation: our exploding deficits and debt. The measure would have passed, but seven members who had endorsed the idea instead voted ‘no’ for short-term political reasons,” he said. “Just last week, a major piece of legislation to create jobs — the public’s top priority — fell apart amid complaints from both the left and right. All of this and much more has led me to believe that there are better ways to serve my fellow citizens, my beloved state and our nation than continued service in Congress.”
Sam Stein notes that Bayh’s replacement will have to “move remarkably fast in order to get his name on the ballot. The deadline to file is this Friday but candidates have to have 500 valid signatures from citizens in Indiana’s nine Congressional Districts to properly certify his or her candidacy.”
