Some Truth From The Insurance Industry
MSNBC has an AP story, Insurance industry lays down health marker, about a letter that the health insurance industry has sent to Congress that actually contains some truth.
The industry claims that a government health insurance program would increase their costs. That’s true, because with competition they would actually have to start paying for the health care of their policy holders to keep them. They would no longer be able to take premiums and give nothing in return because their customers would have the option of going to the public plan.
They claim that a public plan would dismantle current employer coverage, which is also true, if the insurance companies don’t change their ways and become competitive.
The health insurance companies brought this on themselves by being greedy. When they decided to use denial management and rescission to inflate their profits, they sealed their own fates. They have managed to organize regional monopolies by consolidation, and have been acting in the arrogant and greedy fashion of all monopolies.
If you can’t compete as a business, you should fail – it’s called capitalism and big business doesn’t like it.
2 comments
What about all that lip flapping about “Free Markets?”
.-= ´s last blog ..Blue Collar Tour Comedian Ron White =-.
It is stored in the same place as “private enterprise is more efficient than the government”.