Good Friday was a good day for opponents of a ballot initiative to regulate health insurance prices.
The coalition of doctors, hospitals and insurance companies last week reported collecting nearly $24 million from Blue Shield of California and Kaiser Foundation Health Plan. Half of the money was listed as loans to the campaign.
The contributions follow more than $13 million in donations from WellPoint and Anthem Blue Cross last year. Opponents of the effort argue it will drive up the cost of care in California.
"The sponsors drafted a flawed, deceptive measure with language buried in the fine print that will line their pockets at the expense of consumers, who will face higher health care costs," said Robin Swanson, a spokeswoman for Californians Against Higher Health Care Costs. "Our coalition of doctors, hospitals, health plans and employers will have the necessary resources to inform voters across the state about these flaws and the real reason the special interests behind this measure spent millions to put in on the ballot."
Other opposing donors include Health Net and the California Association of Health Plans.
Advanced by Consumer Watchdog, the November ballot measure would allow the state's elected insurance commissioner to deny health premium increases they deem excessive. California regulators based on a previous statewide initiative already have the power to deny automobile, property and casualty insurance rate increases.
Jamie Court, the initiative proponent and president of Consumer Watchdog, said the group is betting voters will see through the money. A campaign statement coming due will show the group has about $150,000 on hand to spend from its three commitees, he said.
"I don't think any amount of money can deny they are unjustifiably raising rates," Court said. "The fact that they are spending so much will signal to Californians just how important and significant this inititive is.