Insurance Rates Increase 60%

That will get your attention.

Just when you thought it was safe to be covered by a government sponsored health plan you get hit between the eyes with a whopping increase.

According to the Wall Street Journal, people enrolled in the Medicare Part D program have been receiving information about changes in their plans for next year. Premiums at the 10 largest drug plans are expected to rise 31% on average next year, with some increases topping 60%.

Sounds like someone miscalculated.

About 26 million seniors and other eligible Medicare beneficiaries are signed up for the Part D drug benefit, which was begun in 2006 to provide government- subsidized coverage of prescription drugs through private insurers.

With 26 million covered participants, this is the largest single health care plan in America. Factor in taxpayer subsidies and you have to ask, why is this program in trouble already?

Of course let's not overlook that Medicare will pay out more than it takes in for the first time this year.

If the government can't control costs for the largest health care plan, then what hope do they have for effecting change for the rest of us?