Reason’s Ron Bailey, in an “I told you so” article today, points out that Senate Democrats are poised to support a bill that would give the federal government the power to regulate insurance rates. He was referring to a NYT article – buried on page A12 — that said that Senator Tom Harkin, the chairman of the Senate health committee, was going to push for a bill, possibly one introduced by Senator Dianne Feinstein, that would give the Secretary of Health and Human Services the power to block rate increases “found to be unreasonable.”
Here’s what the California senator had to say about her bill:
Mrs. Feinstein said her bill would close what she described as “an enormous loophole” in the new law. And she said health insurance should be regulated like a public utility.
“Water and power are essential for life,” Mrs. Feinstein said. “So they are heavily regulated, and rate increases must be approved. Health insurance is also vital for life. It too should be strictly regulated so that people can afford this basic need.”
Looks like the Dems are really pushing their agenda to expand the list of “basic needs” that the federal government has to regulate – read that as take over. Better check out Maslow for what comes next.