Liberal economics backfire, Massachusetts sued by insurance companies.
Just after covering yesterday's story about Massachusetts insurance companies being denied the ability to raise rates, we learn today that private business is fighting back. This is the natural response when government officials place themselves in situations where they do not belong. Specifically in this case bureaucrats have decided that they know the true cost of coverage and will now be the ultimate arbiter of price. This of course will not and can not work. With MassCare hemorrhaging money left and right the inability of insurance companies to extract more money from us via premiums will spell disaster to their bottom lines. Of course many clueless citizens will welcome this event as this simply paves the way for what liberals wanted all along, a single payer system . A half-dozen health insurers yesterday filed a lawsuit against the state seeking to reverse last week’s decision by the insurance commissioner to block double-digit premium increases — a ruling they say