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That report Obama cited on insurers raising premiums

Speaking before an audience in Glenside, Pa., President Obama on Monday discussed a recent phone call organized by Goldman Sachs about the insurance industry.

"These insurance companies have made a calculation," Obama said. "Listen to this, the other day, there was a conference call organized by Goldman Sachs, you know Goldman Sachs," he said to laughter, The Post's Scott Wilson reports.

"An insurance broker told Wall Street investors that insurance companies know they will lose customers if they keep raising premiums. But since there's so little competition in the insurance industry, they're OK with people being priced out of health insurance because they'll still make more by raising premiums on the customers they have. And they will keep doing this for as long as they can get away with it," the president continued.

For those looking for the specific reference, White House deputy press secretary Bill Burton tweeted out a link to the Huffington Post "report potus referred to."

An excerpt from that Sam Stein story:

The market concentration for health insurance is so monopolized in some areas that insurance companies are willing to raise prices and lose customers in an effort to improve their bottom line, a leading insurance broker told Wall Street analysts on Wednesday.
In a conference call organized by Goldman Sachs Global Investment Research, Steve Lewis, a highly regarded broker at the world's third largest insurance broker, Willis, painted a picture of the health insurance market in which employers seem likely to be priced out of coverage.
Noting that "price competition" between insurers was "down from a year ago," Lewis relayed that "incumbent carriers seem more willing than ever to walk away from existing business."

Stein was the first blogger-reporter called on at a presidential news conference in early 2009.

By Garance Franke-Ruta  |  March 8, 2010; 12:59 PM ET
Categories:  44 The Obama Presidency , Barack Obama , Health Care  
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Beginning on page 1,000 of the measure, Section 3403 reads in part: ". it shall not be in order in the Senate or the House of Representatives to consider any bill, resolution, amendment or conference report that would repeal or otherwise change this subsection."

In other words, if President Barack Obama signs this measure into law, no future Senate or House will be able to change a single word of Section 3403, regardless whether future Americans or their representatives in Congress wish otherwise!!

Note that the subsection at issue here concerns the regulatory power of the Independent Medicare Advisory Board (IMAB) to "reduce the per capita rate of growth in Medicare spending."

That is precisely the kind of open-ended grant of regulatory power that effectively establishes the IMAB as the ultimate arbiter of the cost, quality and quantity of health care to be made available to the American people. And Reid wants the decisions of this group of unelected federal bureaucrats to be untouchable for all time.

No wonder the majority leader tossed aside assurances that senators and the public would have at least 72 hours to study the text of the final Senate version of Obamacare before the critical vote on cloture.

And no wonder Reid was so desperate to rush his amendment through the Senate, even scheduling the key tally on it at 1 a.m., while America slept.
True to form, Reid wanted to keep his Section 3403 poison pill secret for as long as possible, just as he negotiated his bribes for the votes of Senators Mary Landrieu of Louisiana, Ben Nelson of Nebraska and Bernie Sanders of Vermont behind closed doors.

The final Orwellian touch in this subversion of democratic procedure is found in the ruling of the Reid-controlled Senate Parliamentarian that the anti-repeal provision is not a change in Senate rules, but rather of Senate "procedures."

Why is that significant?
Because for 200 years, changes in the Senate's standing rules have required approval by two-thirds of those voting, or 67 votes rather than the 60 Reid's amendment received.

Reid has flouted two centuries of standing Senate rules to pass a measure in the dead of night that no senator has read, and part of which can never be changed. If this is not tyranny, then what is?

Posted by: PanhandleWilly | March 9, 2010 6:16 PM

Posted by: obamaalmighT | March 9, 2010 6:29 PM | Report abuse

Theatrics as usual!! Histrionics as usual!! Staged props as usual!! Lies, propaganda, and more lies!

I notice that he keeps forgetting to mention, that his healthcare will mandate that every American carry insurance... all the while, MILLIONS of Americans are without a J O B!!

Who does he think he's fooling? This is all about him putting a notch in his belt- AND his PAYBACK to UNIONS, special interest groups, and CAMPAIGN DONORS (Wall St fat cats).

Besides, he gave out the wrong numbers and dates in his lecture in PA (they try to say he made a mistake, but this snake does not make mistakes- he intentionally MISLEADS, and calls it a mistake).

Next, he wants to give citizenship to all illegals through his immigration reform, to build up a base of immigrant thankfuls to vote Demoncrap. He, is the Master of Deceit.

RASMUSSEN- 57% says health care will HURT economy (must be the WORKING CLASS WITH HEALTH INS); and 25% says it won't. Probably those who do not have health ins, or those who are already USED to GUBMENT HANDOUTS!! (and I'm NOT talking about the disabled, those who are victims of the economy (job loss), the youth, AND the PARASITES!!!)

Posted by: obamaalmighT | March 9, 2010 10:01 AM | Report abuse

Let's see: Because health insurance companies are evil, we need a law that requires us to buy policies from them.

Is Washington located in an alternate universe where this sort of thing makes sense?

Posted by: WylieD | March 9, 2010 12:17 AM | Report abuse

Ahem. Did Mr. Almighty, Herr Obamakraut mention that ALL Americans will be UNCONSTITUTIONALLY MANDATED to OURCHASE health insurance? What part of NO don't he understand?

This fight isn't for the millions without, it's about HIM putting some notches on his belt for political reasons.

He lies and neglects to state ALL of the pertinent facts, such as- we'll be taxed immediately, but will not be able to use benefits until 2014-2018. HUH?? We now have a LAY AWAY PLAN for health insurance?

This guy is despicable- he said he knows Americans are T I R E D of the deals made to Senators to get their vote; YET, he BRIBES Matheson by appointing Matheson's brother to a 10th Circuit judgeship. Now if that isn't buying a cvote, then what is?

I just don't understand why this FOOL is being allowed to walk all over the constitution without being challenged? I don't truat the DemonCRAPS, nor the REPUGS. We need to get rid of the parties, because they are corrupt, and self-serving.

Besides, we really have a de-facto POOTUS, as we REALLY don't know crap about him, like he just fell out of the sky one day, organized communities (yeah right), and campaigned for Pres. Who the hell is he?

see here:

And check out the Annenburg Challenge, where he sat on the board of Directors with Bill Ayers; and check out the New party, a Democratic Socialist Party; of which he was a MEMBER.

Wow is all I can say.

Posted by: obamaalmighT | March 8, 2010 9:11 PM | Report abuse

What a propitious time for the insurance eomcpanies to be raising their rates, especially when they've signed onto Obamacare. Total hogwash. The insurance companies are dancing to Obama's tune.

Obama's whole presidency is hogwash. He and his friends, liars, cheats and thieves should go back to Chicago- NOW!

Posted by: aaniko | March 8, 2010 7:10 PM | Report abuse

This man is mental case - and we all know it.
He stands in front of his props and paid governmental audience, who laugh, clap, and yell when directed - and deigns to joke and yuk it up.

Obama - why didn't you tell the group that you will meet Thursday - to discuss immediate immigration reform...and that 11 million of the 30 million that you are proposing covering are ILLEGAL ALIENS...and that you are working hard to make them future citizens - eligible for this same HEALTH CARE.

YOU believe that EVERYONE should have health care - especially Mexican citizens, right, Obama?

Don't you read these comments on newspapers? You are considered a freak; a twit; a mental case; unfit for POTUS.

Posted by: easttxisfreaky | March 8, 2010 6:37 PM | Report abuse

Lets get real. I am a member of the

self-reliant middle class and every day

I have to pay with after-tax income all

my health care bills including high

deductable health insurance. Meanwhile

government, union, corporations, and

501(c) employees are receiving


BENEFITS in the amount of 250 Billion

Dollars annually (Wash Post). I am not

here to pay for anyone's lifestyle. The

good book tells me to help a brother or

sister in need, not to support them for

the rest of their lives in a manner

they deem to be necessary with TAX

EXCLUSION BENEFITS not attainable for

the self-reliant under law. Make it

equitable or get another polemic about

whose obligation it is to help who with


Posted by: buckaroo5 | March 8, 2010 5:45 PM | Report abuse

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