Obama Takes on Premium Hikes

After leaving it to Congress to design health-care legislation for months, President Obama is injecting himself into the debate Monday with the release of his own preferred plan—and insurance companies may want to watch out. With news of double-digit rate increases in health-care premiums around the country in recent weeks, Obama's plan would give the Department of Health and Human Services the authority to block "egregious" hikes in premiums, according to the AP. The overall goal in crafting a White House plan is reportedly to present a slightly tweaked version of the bills under discussion in Congress that can be passed in the Senate with a bare majority using a budget procedure known as reconciliation. White House officials have said they would post the bill Monday ahead of Thursday's health-care summit with Republican leaders.