This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Health Insurers, Amid Historic Vote, Mired in Risk

WASHINGTON (TheStreet) -- On the eve of reform, health insurers that were in a fit of palpitations over possible profit erosion released their lobbyists, America's Health Insurance Plans (AHIP), to snuff out pending legislation.

Health-insurance companies thought this day would never come. Decade after decade, the industry raised prices faster than inflation and resisted reform while laughing all the way to the bank. Given a seat at the table, they figured that if they played along with a popular president, they could shape the bill to their liking or quietly undermine it with screaming town-hall protesters.

The health-insurance companies miscalculated. AHIP issued a report threatening to raise insurance premiums even further if senators and representatives pass the $829 billion plan, which would require Americans to obtain insurance yet impose restrictions on insurance companies from denying coverage on pre-existing conditions.

Insanely high health-care costs have finally pushed legislative gridlock past the breaking point.

Finance Committee Chairman Max Baucus called for a vote on his health-care reform plan on Tuesday that would get the bill out of committee and off to the floor for melding with the health-reform bills of other committees. The Baucus plan passed by a party-line vote of 14 to 9, with all Democratic Party senators voting in support and all but one Republican in opposition. In a crossover "yes" vote, Sen. Olympia Snowe of Maine warned fellow Republicans and conservative Democrats not to be caught on the wrong side of history on the issue. Her support makes finding a filibuster-proof block of 60 votes easier to secure for final passage.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,493.37 -69.93 -0.42%
S&P 500 1,925.15 -5.52 -0.29%
NASDAQ 4,352.6390 -17.1340 -0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs