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Article Date: 02/22/2010

Obama Proposes Government Power to Block Excessive Rates
As a effort to save his health care overhaul, Obama put forward a nearly nearly $1 trillion, 10-year compromise that would allow the government to deny or roll back egregious insurance premium increases that infuriated consumers. The plan would provide coverage to more than 31 million Americans now uninsured without adding to the federal deficit. The new White House plan would give the federal government the power to regulate the health insurance industry much like a public utility. The Health and Human Services Department in conjunction with state authorities to block excessive rate increases by health insurance companies. It woud set up a seven-member Health Insurance Rate Authority to monitor insurance industry practices and issue an annual report. States that beef up their consumer protection programs would be eligible for a share of $250 million in federal grants. This plan has wonderful timing - it comes just four days before Obama's televised health care summit with Democrats and Republicans.

Website Address: http://news.yahoo.com/s/ap/us_health_care_overhaul

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