Anthem Health Plans of Maine, a subsidiary of WellPoint, is suing the state because they want to increase premium rates by 18.5% on their 12,000 individual insurance policy holders, so they can guarantee themselves a 3% profit margin. This story shows how silly it would be to solely rely on regulation to rein in insurance industry practices.

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Comments

  1. #1 ABM
    November 29, 2009

    “But Brutus is an honorable man… Am I outraged? No, this is the insurance industry, our partner in capitalism.”

    (With apologies to Aaron Sorkin and Allison Janney)

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