Insurance

Dark Money Looms Large In 2014 Midterms

November 7, 2014  ·  Mark Reback

<p>The most disturbing trend in the financing of American political campaigns is not the magnitude of the money being spent. It’s that more and more of that money is not going through the campaigns themselves — where donations must be disclosed and limited — but from nonprofit groups that are being set up for the express purpose of frustrating any attempt to identify their funders.</p>

Prop. 45’s Resounding Defeat Is A Boon For Health Insurers

November 6, 2014  ·  Mark Reback

<p>Already a financial bonanza for health insurers, Obamacare paid off for the industry again at the ballot box as Californians soundly rejected a bid to rein in health insurance rates.</p> <p>Even so, the companies still face heat over their ever-increasing health insurance premiums, and pressure will build on California's Obamacare exchange to hold the line on rates.</p>

Terrible Tuesday

November 5, 2014  ·  Jamie Court

<p>$100 million spent by insurance companies against our two pro-consumer initiatives, coupled with an historic low voter turnout, was a recipe for consumers to lose Tuesday night.</p>

Voters Defeat Health Insurance Rate Initiative

November 5, 2014  ·  Mark Reback

<div class="article-body clearfix"> <p>LOS ANGELES (AP) — On the heels of an advertising blitz funded by health insurance companies, California voters on Tuesday tanked a proposal to give the state's insurance commissioner veto authority over health insurance premiums.</p> <p>About 60 percent of voters cast ballots against the plan to give the elected commissioner expanded authority over small group and individual health plans.</p>

Big Bucks Swamp Populist California Ballot Measures

November 5, 2014  ·  Mark Reback

<p>So much for populism. At least when it comes to fighting the interests of big-money corporations.</p> <p>In every vote this week pitting the interests of ordinary Californians against those of large companies, the corporate interests won big. Big bucks essentially convinced millions to vote against their own best interests.</p> <p>This was an unfettered triumph of the very opposite of populism, defined by the Business Dictionary as “the uncorrupt and unsophisticated against the corrupt dominant elites.”</p>

Consumer Watchdog Gets Blown Out on Health Care Propositions 45 and 46

November 5, 2014  ·  Mark Reback

<p>It's hard to imagine that anyone in California had a worse election night than the folks at Consumer Watchdog. The non-profit advocacy group lost not one but two ballot propositions — seeing both Proposition 45 and 46 go down to defeat by wide margins.<br /> <br /> Proposition 45 would have given the insurance commissioner the power to reject excessive rate increases on the Covered California health exchange. With most of the votes counted statewide, it was trailing by 20 points.<br /> <br />

On California Initiatives, Money Talked, The Public Interest Walked

November 5, 2014  ·  Mark Reback

<p>It was obvious from the start that the cascade of corporate cash into ballot initiative campaigns in California this year would be overwhelming. The reality did not disappoint.</p> <p>That reality had to please the biggest spenders, notably the insurance companies and agents who defeated propositions 45 and 46, two pro-consumer healthcare measures. The industries spent some $100 million to kill the propositions, and they have a right to consider it well-spent.</p>

Supporters Of Prop. 45 Predict Health Plan Rate Gouging After The Measure’s Defeat

November 5, 2014  ·  Mark Reback

<p>Proponents of Proposition 45, which would have given California's insurance commissioner the authority to regulate some health plan rates, say that those rates will continue to skyrocket, following the measure's defeat at the polls.</p> <p>Commissioner <a href="http://www.bizjournals.com/sacramento/search/results?q=Dave%20Jones">Dave Jones</a> has tried to get this authority into law for almost 10 years, dating back to his days in the state Legislature. He blamed "$57 million worth of false television commercials, radio ads and slick mailers" for the loss Tuesday.</p>

An Election Night Murder-Mystery: What Killed Prop. 45?

November 5, 2014  ·  Mark Reback

<div class="block__content block--article__content" id="page_0_content_0_BlockContent"> <p>Back in June, more than 60% of Californians supported it.</p> <p>But on Tuesday night, more than 60% of Californians voted against it.</p> <p>What went wrong with Proposition 45, the once popular rate-review ballot initiative?</p> <p>Here's a list of potential factors -- and it's hard to pick just one.</p> <p><em><strong>It was outgunned</strong></em></p>

Voters Weigh In On Regulating Health Insurance Costs

November 4, 2014  ·  Mark Reback

<div class="story_body"> <p>Health insurance premiums have gone up 172 percent since 2002, according to the California HealthCare Foundation. That's what prompted supporters of Proposition 45 to put their measure on today's ballot.</p> <p>The measure would give California's insurance commissioner the authority to reject health insurance premium increases found to be unreasonable. Proposition 45 would also require insurers to publicly disclose and justify any rate increases.</p> <p><strong>Waning Support</strong></p>

Insurers Spending Cash, Spreading Fear in High-Stakes California Showdown

November 3, 2014  ·  Mark Reback

<div id="content-only-wrapper-block"> <p>Voters are usually inclined to vote their pocketbooks. But that's become more difficult with every election, as the pocketbooks that carry the most weight aren't those of the individual voter, but corporations and plutocrats.</p>

Hyundai, Kia Will Pay $100 Million for Overstating Fuel Economy Claims

November 3, 2014  ·  Mark Reback

South Korean automakers Hyundai and Kia have agreed to penalties totaling an estimated $350 million for inflating fuel economy claims on 1.2 million vehicles, the...