Free-Market or Universal Health Care - Health Ins. Companies Make Money Either Way

Jan 13, 2009

  1. insurehound
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    insurehound Guru

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    I wonder if health insurance companies really care if free market health care stays or goes. Another words, will they find a way to make money if Universal Health Care is implemented? Somebody has to administrate it. Maybe they will make even more money as they will not take on the risk? Maybe that's the direction they want to move in?
     
  2. Josh
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    Josh Retired Agent, Current List Broker

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    Re: Free-Market or Universal Health Care - Health Ins. Companies Make Money Either Wa

    And now for a little segment I call "World according to me":

    I have a theory that you are correct. I think that if we move to a universal healthcare system it would happen much the same way Medicare Part D rolled out. I think the government will say "We don't want to do this, here's what we want it to look like, bid away". In order to make it more financially feasible I think the government should have the carriers only do the administration and be on the hook for the loss/profit themselves. Many large companies use the same process and self-insure their risk. This would keep the carriers and agents making money, maintain provider networks, and probably maintain a reasonable amount of stability in the healthcare industry. Let's not forget that the AMA wants nothing to do with Universal Healthcare.

    So the short answer is yes, insurance carriers would probably support universal healthcare if it meant they got more customers and weren't exposed to risk because uncle sam was funding all the claims.

    Again, this is just my best educated guess.
     
    Josh, Jan 14, 2009
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  3. TQindeMil
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    TQindeMil New Member

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    Re: Free-Market or Universal Health Care - Health Ins. Companies Make Money Either Wa

    That wouldnt be such a bad world if everyone was getting paid. Your right its like the PDP and MA plans being admistered by private companies. But no offense, but our gov't is in a big "changing" period right now and it seems to me that democrats do not want private companies doing anything...all they want is for the gov't to be in complete control. However, insurance complanies would fight that and in my opinion that would never happen. One way or another insurance companies would have a piece of the pie. The only question is how and when.
     
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