How much or how little someone pays for a product or service is a function of market forces. When a willing buyer meets a willing seller, bingo, the price has been defined. But not so anymore. From The New York Times comes a story about the Obama administration health insurance czars who will implement the federal government takeover of the private insurance industry. Among them is Jay Angoff, a former lobbyist for a Ralph Nader-associated organization. (emphasis is mine)
Mr. Angoff said effective regulation of insurers “could have a greater impact on costs and coverage” than the public insurance option liberals championed unsuccessfully.
And Mr. Angoff has made it clear that he means to be aggressive in setting “marketplace rules.” He will enforce a section of the law that requires insurers to file detailed justifications for any “unreasonable increases in premiums.” One of his first tasks is to define “unreasonable.”
Speaking of defining “unreasonable,” let’s start with the crackdown on personal freedom, which is the hallmark of the new “reform.” JLF’s John Hood defines why the law’s mandate that every American buy government-approved insurance is outrageous.
