We have all heard the figures being thrown around about the uninsured people in the US…there maybe a difference in the total number, but NO one can argue that the system is sound….well, with the exception of anyone making profit off the existing one…..and I have heard some on the Right saying that there is a need for health reform…..then why is it so abhorrent that there is the possibility for reform?
I understand the desire to keep the deficit down….or to keep the insurance profit margins….or to protect the free market….but……doing nothing as some have suggested is not a free market approach….why? insurance companies are setting fees, services, etc and they have very little competition, if any…..
Think about this…we bailout a numerous amount of banks with NO control…they lost money we gave them money and now they are not it again….answer?…..we needed to get some skin in the bailout…if they took cash then we got 20-30% of their profits and we then could have used that to fund stuff like healthcare…after all they made enough on your money to pay huge bonuses to the boneheads that damn near destroyed the economic system….why not get something for out cash…the banks would not have given free money to ANYONE!
Sorry, that was a double comment or thought health care and banks….oops…my bad!
All I am saying is to those so concerned about the deficit and government spending, there was away to silence their concern but instead we give the guys a free ride to wealth without the consequences of bad judgment……
There is more……the latest polls show that the American people think the public option is a good idea, regardless of what is said by the pundits on the Hill. We elected these guys and gals to do our bidding but that is not what is happening….take for instance this report by Reuters:
Health insurers, drugmakers and other companies expect U.S. Senate lawmakers to soften the blow from health reform legislation narrowly passed by the House of Representatives that calls for a greater government role in the industry.Pharmaceutical and insurance sector stocks were all in positive territory in line with the overall market on Monday, following the approval of the House bill late Saturday calling for a public insurance option and a government role in drug prices under Medicare.
Let me see, the Senate is where the industry has put their money to defeat health reform and it looks like it was money well spent….
All that is, of course true. However, insurance companies, like banks and others, are businesses and they are there to make a profit – for no other reason at all – why would there be? It has NOTHING whatsoever to do with the good of the people, or caring, or being philanthropic – nor should it!
The fault is with governments (plural) who have allowed these important businesses to become powerful enough to dictate terms to the country as a whole (countries actually – plural again).
To me, basic healthcare is the ONE thing that should be run at least FOR the government and under its control (as you know, I’m not generally a fan of things run directly BY governments – any of them). But that’s just my opinion.
But there are a HUGE number of variables in this and the final cost of public healthcare is almost impossible to calculate. The one thing you can be sure of with that is that their “figures” will be wildly out in one direction or another if you look at ACTUAL cost and not the “massaged” figures constantly passed to the public in all cases. 👿
The problem were have here in the States is that insurance companies can hold a virtual monopoly in different states….there is little competition among the companies……a lot of this is thanx to the Clinton admin that allows Insurance companies to be exempt from anti-trust laws in their pursuit of profits and make no mistake they are making HUGE profits….
Monopolies are TOTALLY against the best interests of everybody – including business itself. They MUST be prevented. However, ridiculous charges and rules are also pointless and only push up costs unnecessarily.
Competition is VITAL if you are ever going to get service. Don’t legislate you have to monitor that which costs a fortune! Ensure competition and business itself largely does it for you for nothing! 👿
There used to be a concept called fiduciary duty. It meant that companies like insurance companies put their duties and obligations above the bottom line. It seems that the concept has been lost. I guess that is not taught to graduating MBAs any more. Today, it is profit above all. The only time a company does its duty when it conflicts with profit is when ordered by a court of justice or public opinion. Nothing wrong with the government not running health care but the insurance industry should be made non-profit.
I have heard people on the right say that reform is needed. However, to them is not that these companies are living up to their duty; it is that there is not enough profit. One of the biggest problem is the regulations by the states. Regulations cut into profits and their solution is to do an end run around states rights and eliminate these regulations. As for the policy holders, they can just die if they get sick.
Unfortunately, given that Washington does not represent the constituents any more, there is more chance of the anti-consumer proposals passing.
Good comment Terrant……I believe you are correct in your assumption that MBAs are being taught all the tricks to enhance profits like the derivatives market……
Personally, I think it’s ridiculous to mix business with people’s basic needs this way. I don’t think it’s reasonable to expect ANY company to do that – it’s there to make profit. Why else would you bother to start a company or invest in one? The job of protecting the population belongs to the politicians and they should NOT dump that on business or the people.
There are conflicting statements about the profits that the insurance companies make, but I tend to believe the versions that have them making good ones at least. However, I don’t see what’s wrong with that. Proper legislation and management of the system should control citizens’ best interests and, as it apparently doesn’t, it should be changed.
In order to keep prices realistic any attempt to create monopolies and cartels should be stamped on rapidly and hard by government – it’s against the best interests of trade, let alone the people.
However, so called tort reform should also in my opinion be a priority too.
There is nothing wrong with profits….but if they refuse care to people on such things as pre-existing conditions, then I have a problem with it….such conditions as sexual abuse, c section, a fat baby….such a few.
But according to Congressional Budget Office….frivolous lawsuit account for less than 1% of the rising cost of health care…..
And has the Congressional Budget Office ever been right about anything else?
How hard would it be to pass simple legislation that listed such essential heathcare matters and insisted that they MUST (BY LAW) be included as part of the standard cover in everyday basic health insurance? The insurers would of course whine and put up prices, but if the whole business was opened up to proper competion at the same time, the probability is that premiums would go down rather than up.
However, I personally believe in the “public” option, but NOT run by the government. In my view the government should simply write the policy they want for BASIC and ESSENTIAL healthcare, hand it to the insurance companies and say – “That is what is required and you will either provide it as standard for (whatever price they feel is correct to be paid by the government) or we will set it up ourselves in competition.” Job done! 👿