Political Quotes

“It's interesting to observe the effect of that. This is Blue Cross of California. Two years ago, their profit was almost $300 million. The effect of those rate increases--the first rate increase, not the second one, but the first one which was around 50 percent--was to increase their profits to $2.3 billion, and now they want to add another about 30 percent average on top of that. So what will their profits be after all of that? It's shameful. What the legislation does is to reign in the excessive increases in the insurance companies' premiums. It does that by requiring that a higher percentage of their total premiums go to medical services. Now if you want, go check Wall Street, go on Charles Schwab, check the Wall Street thing. If you want to make an investment, they will say, Invest in the companies whose medical loss ratio is low and trending downward. That simply means that they're paying less for medical care and more for profit. We're going to turn that on its head. We're going to force the insurance companies to pay for medical services and less for profits.”