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Health Insurance Premium Angst

We are sure to hear a lot of it going forward, like this Karl Denninger blog post:

That Didn't Take Long

But let me be clear, this has been in the works since last year. It is not a knee jerk reaction by insurance companies based on ObamaCare recently rammed through congress. We became aware that our insurance was getting cranked through the roof back in December. It all depends on when your (or your company's) particular plan renews.

So this is yet another opportunity to tune down the angry noise and realize that the insurance companies - even as their Washington lobbyists worked feverishly to mitigate damage and perhaps even make things beneficial - had long since put the fix in. It is just that many Americans and the companies they work for have not yet been slapped in the face with it.

Renewals are happening each month. I have three friends who own businesses. One of them recently got his 38% increase and registered his disbelief. I welcomed him to the club. The other two were saying they have good agents and all is fine. I said "when do you renew?" and they said May. I almost felt bad bursting their bubble.

This will not be good for the economy; this will not be good for anybody. But let's attempt to realize that the corporations put the fix to this thing long ago in what some might call conspiratorial fashion. It didn't just spring forth on Monday post-congress.

Disclosure: No positions mentioned