Obama gives insurers a warning

President Obama plans to sternly warn industry executives at a White House meeting on Tuesday against imposing hefty rate increases in anticipation of tightening regulation under the new law. Attendees will include top executives from 13 leading health insurers, as well as the president of America's Health Insurance Plans, the industry trade group. Five state insurance commissioners also are expected to attend. The White House is concerned that health insurers will blame the new law for increases in premiums that are intended to maximize profits rather than covering claims. The administration is also closely watching investigations by a number of states into the actuarial soundness of double-digit rate increases. The White House meeting coincides with Monday's release of a survey by the Kaiser Family Foundation that found that premiums for the policies most recently bought by individuals had increased by an average of 20 percent. Source: NY Times
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