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Rescission
noun
An act of removing, taking away, or taking back.
synonyms
Exact(47)
He calls the current reforms a path to single-payer government health care (which is false), and doesn't say anything about what he would do about insurance for people with pre-existing conditions, ending rescission, etc.
In a show of fiscal fortitude, Mr Obama on May 24th did formally ask for new "rescission" authority: in essence, the ability to pluck bits out of spending bills for elimination, subject only to an up-or-down vote in Congress.
Lendle did use some data to promote lending separate from purchases, but Amazon's rescission presumably means the powers that be changed their mind and decided that Lendle did, in fact, comply.This kind of stumble hardly comes as a surprise.
Her first successful fight for the union was against the Chicago Board of Education's refusal to honour a promised salary increase in 1899 and its rescission of an earlier one in 1900.
Weddington's efforts in Washington with Mrs. Carter and Mrs. Mondale to defeat the rescission amendment (it went down in the Senate 54-44) and pass the ERA extension (it passed 60-36).
But it's hard for me to see how the principles Obama laid out (principles that are embodied in every health-reform plan out there, including Max Baucus's) can actually be meaningfully gamed, precisely because the requirements seem pretty black-and-white: community rating, out-of-pocket spending limits, requirements for the kinds of treatment that must be covered, and no rescission.
Similar(13)
Most rescissions are based on accusations that policyholders withheld material information.
Now that the bill has passed, repealing it (which I presume is what Republicans campaigning in the fall will call for) will mean, literally, voting for allowing insurance companies to deny coverage to people with pre-existing conditions, voting to permit rescissions, and voting to make it much harder for people who lose their jobs to stay insured.
While administration officials cited examples of recent spending that Mr. Obama might have singled out if he had the power, he has never used an existing, weaker law for proposing rescissions.
The insurers were wise to short-circuit the criticisms and end rescissions now.
It will come as no surprise that disclosure violations are not uncommon in the loans of the bubble years, so rescissions have become a valuable defense against foreclosure.
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