Hey New Jersey, The Great Insurance Lobby is at it Again

The Star Ledger reported last week that a New Jersey state legislative committee voted unanimously to force state regulators to redraft the price controls on over 1,000 medical procedures and devices relating to the treatment of victims of automobile accidents. The insurance industry as well as the state Department of Banking and Insurance have been working towards capping the costs of these medical expenses as they cite that the average dollar amount for medical claims per auto-accident victim is $11,000, twice the national average. What this amounts to is another screwing of the New Jersey insurance buying, law-abiding citizen. These price caps, if implemented, will not save you a dime in premium, folks; it will only increase the almighty insurance companies’ profits.

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