(Industry Top Lobbyist) Insurers Expect Big Hit in Final Health Bill

[jpak]

http://online.wsj.com/article/SB126289015456920057.html?mod=googlenews_wsj

The health-insurance industry's top lobbyist estimated Thursday that insurers will face up to $225 billion in new taxes and fees under a final health bill.

Insurance companies are pressing lawmakers to peel back a new tax on high-value insurance plans that President Barack Obama wants to include in the final bill. They also want to delay an across-the-board tax so it doesn't kick in until the government begins distributing new subsidies to help lower earners buy insurance.

"Our fees are going to be well in excess of $200 billion, probably in the neighborhood of about $225 or so" over a decade, said Karen Ignagni, president of America's Health Insurance Plans.

Ms. Ignagni's estimate is based on the taxes in the Senate bill, which President Obama wants to use as the backbone for final legislation. But the total hit to the industry could be a lot bigger.

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[babylonsister]

1. And we're supposed to feel sorry for you and your industry, Ms. Ignagni?

I don't think so.

[Lance_Boyle]

2. Big Hit? Several million new (unwilling) subscribers is a net loss for them?

Somehow I doubt that they're being totally honest about this...

[SpartanDem]

4. Those customer come with costly regulations

insurers must take people they've rejected for years and, they can't base rates on health, the government make going make them spend 85% of premiums on health care and set benefits they must provide. If this bill was so good for them why are they wouldn't still be fighting it.

[Autumn]

3. I have my doubts on that

:rofl: You can bet those "new taxes and fees" won't bother them one bit. It will suck to be us, though.

[xchrom]

5. +1