Judge denies insurers' request for injunction

[Glenda]

Source: Boston Globe

Suffolk Superior Court Judge Stephen E. Neel today denied a request by six health insurers to allow them to implement double-digit premium rate increases for tens of thousands of small businesses and individuals.

Neel's decision not to grant an injunction sought by the insurers means the state Division of Insurance's rejection of 235 proposed rate hikes stands for now. However, the insurers' suit against Insurance Commissioner Joseph G. Murphy will go forward.
...

"Because plaintiffs have not exhausted their administrative remedies, and because they have not demonstrated that they are otherwise entitled to injunctive relief, their motion for preliminary injunction will be denied," the judge wrote.

...
In response to the rejections, a half-dozen health insurers filed a lawsuit against the state seeking to reverse the decision by the insurance commissioner to block double-digit premium increases - a ruling they say could leave them with hundreds of millions in losses this year.


Read more: http://www.boston.com/business/ticker/2010/04/judge_denies_in.html

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Interesting news, as Massachusetts tries to cap double-digit health insurance increases, for people using Health Connector insurance options.

[virgogal]

1. The buzzwords there are "have not exhausted their administrative remedies"

Do these companies have no shame?

[Glenda]

6. They're not used to someone saying "no" to them

They're not used to having to go through the proper channels and steps. This is something new!

[ShockediSay]

9. Isn't this the Romney health insurance plan adopted in some measure

by President Obama?

[HughMoran]

2. Insurance companies are begging us to destroy them

We will oblige, just give us a little time (and keep on motivating the masses to HATE you.)

[Glenda]

7. Is this what happens right before something becomes extinct?

If so, I will happily watch. :toast:

[rfranklin]

3. If they have no way to control costs, what use are they?

They are a like remoras that have attached themselves to the health care business, feeding off it, and contributing nothing.

[Jackpine Radical]

4. They are actually pretty good at controlling costs.

They've been cranking them upward for many decades now.

[SharonAnn]

8. Sort of like "a giant vampire squid wrapped around the face of humanity

"The world's most powerful is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. "

That was Matt Taibbi's quote about Goldman Sachs, but I think it also fits health insurance companies.

http://www.rollingstone.com/politics/story/29127316/the_great_american_bubble_machine

[pleah]

5. K&R