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President Obama wants to gain more control over health insurance companies by putting a cap on excessive rate increases. Mr. Obama is asking lawmakers to focus on tightening regulations of insurance costs. This move comes as Blue Cross Anthem is under fire for proposing a 39% increase on individual health insurance premiums which could affect nearly 800,000 customers.
There has been so much outrage over the expected increase. President Obama’s team says when you consider the incredibly high profits these companies make, the increases forced on the insured just don’t add up. Anthem claims the hike is only to compensate for increasing medical cost.
Republicans are openly against any government takeover and are not expected to agree with Mr. Obama’s new provision. Both parties are set to meet regarding other changes in the healthcare system this week. The President has been working for several months to make medical insurance more affordable for Americans.
Tags: health bill, health insurance, medical insurance, President Obama, uninsured
