Cracking Down on Health Insurance Companies

[GreenSky]

I agree. We are going single payer.

All industry will eventually be owned by the government. Our republic is doomed. And bitching won't help.

But for anyone to be happy about this shows a lack of understanding of how the world works. Remember the USSR?

Rick

 

[Dave020]

Well that's exactly my point. The free market does not work for health insurance.

Funny, free market doesn't work for life insurance either according to LIMRA. But no one is recommending nationalizing the life insurance industry.

What we learned from the CA PCIP is very important. Absent a mechanism to reign in over utilization, control of medical expenses in health insurance is impossible. The only way a single payer system can reign in utilization is one way - rationing.

 

[somarco]

Fix participation, you fix the problem, at least to a degree.

The lack of "full" participation is not really an issue from my perspective. Historically over the last 30 years or so anywhere from 14% - 17% are uninsured.

Most group plans require 70% participation which means, at least in theory, you can have 30% without insurance.

Of course 30% is an exaggeration since some have other coverage while others do not.

Still, it pretty much debunks the participation argument especially since carriers have (to a degree) the ability to weed out the bad apples or price accordingly for those who only want to buy insurance when they need it.

What a novel idea.

While some will argue single payer is coming, I doubt it. The country can't afford it and single payer systems are a big part of what is bankrupting Europe. We can't even afford Medicare and Medicaid now. No way we can afford anything other than minimal coverage for the other 200 million+.

Those who currently choose not to buy coverage do so regardless of free market forces. In fact, their opting out is in keeping with their freedom of choice to buy or not to buy.

Absent a mechanism to reign in over utilization, control of medical expenses in health insurance is impossible. The only way a single payer system can reign in utilization is one way - rationing.

Medicare is suffering from over-utilization now. Trying to fix the problem that was inherent in the original design and has only been made worse by Congress is a political box of snakes.

Cut back on provider reimbursement and docs will ration the number of patients they treat.

Cut back on benefits or raise costs and seniors will vote you out of a job.

 

[Crabcake Johnny]

I'm against single payer but we need some kind of system where everyone who wants to be covered and is willing to pay can obtain insurance.

We also need a system where after it's been established that everyone can purchase insurance, those who choose to sit out are punished.

The "punishment" can be tricky and I don't have the answers. Possibly make it near impossible to discharge medical debt in a BK if can can be shown to the BK judge that the person had the means to pay for a policy yet choose not to.

"I couldn't afford insurance your honor"

"Actually, it would have cost $280 per month yet I see two years ago you purchased a new car for $485 per month payments. You therefore cannot discharge your $65,000 hospital bill and we'll set up your wages to be garnished for 25%."

 

[GreenSky]

I'm against single payer but we need some kind of system where everyone who wants to be covered and is willing to pay can obtain insurance.

We also need a system where after it's been established that everyone can purchase insurance, those who choose to sit out are punished.

So I take it you like ObamneyCare.

Rick

 

[arnguy]

Come on....we are talking about Trustmark.........

Scott, are you implying we can't trust Trustmark?

 

[STIBROKER]

Scott, are you implying we can't trust Trustmark?

no ......not at all............

 

[CHUMPS FROM OXFORD]

"we need some kind of system where everyone who wants to be covered and is willing to pay can obtain insurance"

This is exactly what we have...at least in the states that I write business in.

 

[Crabcake Johnny]

Interesting. So a type I diabetic can get an individual policy in Florida if they've only been without insurance for 3 months. Who will write it?

 

[arnguy]

no ......not at all............

Sorry, Scott, I was thinking of Torchmark.