Kentucky's Insurance Commissioner Sharon P. Clark has decided that the decision by insurance companies in the commonwealth to discontinue the writing of new child-only policies because of increased regulations is unacceptable. So she's 'ordering' these companies to continue selling them.
This story is not new to the Bluegrass Institute. Jim Waters, vice president of policy and communication, reported on it in his statewide column last month. Waters quotes Peter Suderman of Reason Magazine: "Insurers are expected to both abide by new rules, which could prove costly, and not significantly change their prices or services in response to them."
So now what happens when companies wake up to see that the new health care reform will wreak havoc on their business? Kentucky's Insurance Commissioner forces her will to get her way.
2 comments:
Obamacare was passed without reading, analysis, assessment of impact on businesses and individuals, or transparent debate on substance.
Only the government can print money. Only the government can run in the red without consequences to its decision makers.
This decision of Commissioner Clark highlights again the unwavering assault of government bureaucrats on the private sector.
Her decision is unacceptable.
Is it even legal for an insurance commissioner to 'order' businesses to do something, and for that matter, something they can't afford to do?
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