Posted by AzBlueMeanie:
From the Wall Street Journal this morning:
"The health insurance industry is one of the most regulated industries in America," said Sen. Jon Kyl (R., Ariz.) on the Senate floor Monday. "They don't need to be 'kept honest' by the government."
From the Los Angeles Times, reporting on Congressional hearings last month:
The documents show, for instance, that one Blue Cross employee earned a perfect score of "5" for "exceptional performance" on an evaluation that noted the employee's role in dropping thousands of policyholders and avoiding nearly $10 million worth of medical care.
WellPoint's Blue Cross of California subsidiary and two other insurers saved more than $300 million in medical claims by canceling more than 20,000 sick policyholders over a five-year period, the House committee said….
The committee investigation uncovered several rescission practices that one lawmaker called egregious, including targeting every policyholder diagnosed with leukemia, breast cancer and 1,400 other serious illnesses. Such investigations involve scouring the policyholder's original application and years' worth of medical and pharmacy records in search of any discrepancies.
Nope, no need for regulation here.