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Massachusetts health insurers case will be decided MondayPosted On Fri, April 9, 2010
The battle over Massachusetts health insurance rates still isn't over, but a judge promises that come Monday he will have a decision on whether the insurers can charge higher prices.
Health insurers made a request to increase Massachusetts health premiums to double-digit numbers. For the first time in the state's history, Massachusetts Governor Deval Patrick denied insurers their request.
The Boston Globe reports the insurers had proposed 235 rate increases. Insurers claims the rejection of the rate increase will cost them hundreds of millions of dollars.
When insurers threatened to stop writing new health coverage for individuals and small businesses, Massachusetts said it would fine the insurance carriers. Six carriers later agreed to write new insurance policies.
According to the Globe, the insurer's proposed rate increases would be somewhere from 8 to 32 percent.
Some see Patrick's refusal of the insurer's request as a way to win voters in his campaign for reelection. NPR reports that Patrick faces a difficult challenge against competitor Charles Baker. One of their most divisive issues is how to cap health insurance rates and cut healthcare costs.
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