Dems back Prop. 45 medical insurance price controls
The Democratic Party just backed Proposition 45, which would give the state insurance commissioner vast new powers to regulate medical insurance rates. According to the Bee, the initiative pits “trial lawyers and consumer groups against doctors and hospital groups.”
According to R Street, “Such a system already exists in the property and casualty market as a result of the infamous and lamentable Proposition 103.”
The endorsement makes sense. If it passed, Prop. 14 will chase some health-insurance companies out of California because the price controls will make them unable to make a profit. That will cause many people to rush into Obamacare/Covered California, making it finally seem to be a “success.”
And the state will take one more step toward the single-payer, socialized medicine, Soviet-North Korean-style scheme Democrats have backed for decades.
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