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Obama Adopts Feinstein Insurance Rate Hike Proposal

February 22, 2010 - by Eric Naing

As part of the White House health care plan, President Obama wants to give the federal government the authority to block “unreasonable” rate hikes by health insurance companies. Earlier this month California-based Anthem Blue Cross, a subsidiary of health insurance mega-company WellPoint, announced that it would be increasing the cost of insurance premiums for thousands of its customers. In some cases, the premiums would be jump by as much as 39 percent. The rate hike sparked an outcry from...

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