Tuesday, March 16, 2010

The costs of Health Care in Mass

Any wonder why it costs so much more money this year than last for your health care coverage? Some insurers have increased co pays and increased rates, while spending millions in lobbying and high salaries. Well today we learn the newly appointed CEO of Blue Cross resigned today, after only weeks on the job. BC has lost 149 million dollars and lost 89,000 subscribers. I'm sure some of you will remember the days when BC was the high end insurer and if the company you worked for had BC, you were golden. No word on why the CEO has left.

Today we learn that AG Coakley is investigating why some doctors and hospitals are paid dramatically more for the same procedures and services, as much as three times more. This investigation is to try and figure out why health care cost in our state are rising so fast. I hope AG Coakley will get some straight answers and in the end, perhaps we will understand how the system is not equal for all and is rigged to benefit just a few in the health care arena.

And today we heard from Cahill, if the US adopts the very same system of health care for all in this state, the country will go broke. I couldn't agree more and on a local level, Framingham, if approved, we start spending millions every year, over and above what is paid now, to insure health care and retirement funds will keep up with demand. Look for this to be banged around at Town Meeting.

Banking fraud and TARP

I'll bet some of you remember commenting on this blog about the criminal activity surrounding the TARP program last year. The Troubled Asset Relief Program was designed to stop the banks and others from going under. Many of you had written about who and why the money was given and today we learn that the first criminal complaint was issued by US District Court in Manhattan. Charles Antonucci of Fishkill NY is accused of using false information to get 11.3 million in TARP funds. His bank was taken over last week by the FDIC and reopened the next day as a new financial institution.

Look for a dozen or so of these crooks to be charged and convicted this year. Also, we may soon learn who exactly was the central figure in the financial melt down of 2008.