Judge denies insurers' request for injunction

Source: Boston Globe

Suffolk Superior Court Judge Stephen E. Neel today denied a request by six health insurers to allow them to implement double-digit premium rate increases for tens of thousands of small businesses and individuals.

Neel's decision not to grant an injunction sought by the insurers means the state Division of Insurance's rejection of 235 proposed rate hikes stands for now. However, the insurers' suit against Insurance Commissioner Joseph G. Murphy will go forward.
...

"Because plaintiffs have not exhausted their administrative remedies, and because they have not demonstrated that they are otherwise entitled to injunctive relief, their motion for preliminary injunction will be denied," the judge wrote.

...
In response to the rejections, a half-dozen health insurers filed a lawsuit against the state seeking to reverse the decision by the insurance commissioner to block double-digit premium increases - a ruling they say could leave them with hundreds of millions in losses this year.


Read more: http://www.boston.com/business/ticker/2010/04/judge_denies_in.html

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Interesting news, as Massachusetts tries to cap double-digit health insurance increases, for people using Health Connector insurance options.

Do these companies have no shame?

They're not used to having to go through the proper channels and steps. This is something new!

by President Obama?

We will oblige, just give us a little time (and keep on motivating the masses to HATE you.)

If so, I will happily watch. :toast:

They are a like remoras that have attached themselves to the health care business, feeding off it, and contributing nothing.

They've been cranking them upward for many decades now.

"The world's most powerful is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. "

That was Matt Taibbi's quote about Goldman Sachs, but I think it also fits health insurance companies.

http://www.rollingstone.com/politics/story/29127316/the_great_american_bubble_machine