Getting Around a Price Cap
26th December 2010
The Department of Health and Human Services is imposing new reviews on health care premium increases of 10% or more. So I was interested to see a letter from my health insurer, which is raising premiums 9% next year but cutting the benefits.
Markets work even when you don’t want them to. Attempting to force markets to do what you want them to do rather than what they want to do never works. That’s an invincible law. Unfortunately, another invincible law is that bureaucrats never learn from history. ‘This time for sure!’