The Private Health Insurance Industry is Killing the U.S. Economy

[DejaVu]

The Private Health Insurance Industry is Killing the U.S. Economy

Fifteen years ago the private health insurance industry told Congress and the nation that it could fix the health care mess if government got out of the way. The insurers said that they would control costs for American families and businesses and improve the quality of care. The American people, American business and the Congress aren't about to buy that line again.

The result of leaving health care reform to the insurance industry is that health insurance premiums have gone up six times faster than wages in the past nine years. Those dollars are buying skimpier health coverage with high deductibles and caps on benefits, resulting in more and more insured people being forced into medical bankruptcy. Businesses that are struggling to meet health care costs in a global economy and dropping coverage, so much so that now 1 out of 3Americans under the age of 65 has been uninsured at some time in the past two years. Health care eats up 16% of our economy, up from 11% when the nation decided to leave the private insurance in charge.

The insurance industry and their defenders on the ideological right are resorting to the same name tired name calling that worked for them the past, "government-run" health care. It's a desperate attempt to fend off a sensible government role in making health care affordable to our families, businesses and nation. This time it won't work. The President and leadership in Congress -- and the American -- people support a two-pronged role for government. One, set rules so that the private insurance industry can't continue to put profits before our health. Two, offer a choice of private insurance or a public health insurance plan, so people aren't stuck only with private insurance.

The fact is that if private insurers controlled health care inflation as well as Medicare has over the past decade, businesses and families would see much lower premiums than they do today. Between 1997 and 2006, per enrollee spending in private insurance grew 59% faster than spending in Medicare. And Medicare has the tougher job, because it cares for the most expensive population: the elderly and those with serious disabilities.

One reason that private insurers have gotten away with skyrocketing premium increases is that they have a near monopoly across the nation. According to data from the American Medical Association, in virtually every metropolitan area in the country (96%) the insurance market is dominated by so few insurers so as to be considered "highly-concentrated." A public health insurance option coupled with a regulated private insurance market will break the stranglehold a handful of companies have on the insurance market. Most importantly, under these reforms consumers will be able to vote with their feet when their health care plan -- public or private -- doesn't work for them.

In fact, the main argument that the industry and the right has with offering the choice of a public health insurance option is that too many Americans will choose it. If private insurers are really more efficient than government, they shouldn't have any trouble competing with a public health insurance plan. It's the height of irony that the defenders of free markets are opposed to competition. But when it comes to health care, which is a public good, public insurers really are more efficient.

Continued: http://www.huffingtonpost.com/richard-kirsch/the-private-health-insura_b_191770.html


In this case I trust the Obama government before I trust the Medical Industrial Complex. 

[buzorro]

Wasn't it last summer when Congress ordered all the major oil corp's CEO's to Washington and justify the record profits they were making?

IMHO, it seems that the pharmaceutical and insurance companies are the real 'bad guys.'  Do we agree that the majority of congress-critters are in the hip pockets of these companies and their lobbyists?  So why isn't Barky....oops, sorry ms. moderator, slip of the finger...Why isn't Obama putting the hammer down on these corporations?

'Hello.  I'm from the government and I'm here to help you.'

Our national debt is going to double in the next five years and triple in the following five.  This is lunacy!  How is the government going to survive that amount of debt plus interest?  Keeping printing money out of thin air?

[DejaVu]

Wasn't it last summer when Congress ordered all the major oil corp's CEO's to Washington and justify the record profits they were making?

IMHO, it seems that the pharmaceutical and insurance companies are the real 'bad guys.'  Do we agree that the majority of congress-critters are in the hip pockets of these companies and their lobbyists?  So why isn't Barky....oops, sorry ms. moderator, slip of the finger...Why isn't Obama putting the hammer down on these corporations?

'Hello.  I'm from the government and I'm here to help you.'

Our national debt is going to double in the next five years and triple in the following five.  This is lunacy!  How is the government going to survive that amount of debt plus interest?  Keeping printing money out of thin air?

I must say you've brought up some very excellent points. I don't have any answers right now. I'll be back. 

[jeffc]

Wasn't it last summer when Congress ordered all the major oil corp's CEO's to Washington and justify the record profits they were making?

IMHO, it seems that the pharmaceutical and insurance companies are the real 'bad guys.'  Do we agree that the majority of congress-critters are in the hip pockets of these companies and their lobbyists?  So why isn't Barky....oops, sorry ms. moderator, slip of the finger...Why isn't Obama putting the hammer down on these corporations?

'Hello.  I'm from the government and I'm here to help you.'

Our national debt is going to double in the next five years and triple in the following five.  This is lunacy!  How is the government going to survive that amount of debt plus interest?  Keeping printing money out of thin air?

[jeffc]

Wasn't it last summer when Congress ordered all the major oil corp's CEO's to Washington and justify the record profits they were making?

IMHO, it seems that the pharmaceutical and insurance companies are the real 'bad guys.'  Do we agree that the majority of congress-critters are in the hip pockets of these companies and their lobbyists?  So why isn't Barky....oops, sorry ms. moderator, slip of the finger...Why isn't Obama putting the hammer down on these corporations?

'Hello.  I'm from the government and I'm here to help you.'

Our national debt is going to double in the next five years and triple in the following five.  This is lunacy!  How is the government going to survive that amount of debt plus interest?  Keeping printing money out of thin air?

******************************************************************************************************************************************************
Buzz
I have been preaching about the corrupt insurance companies forever on the old forums but people are saturated with nonsense from FOX news and talk radio and the mentality of the day is "do like we say, look how great the last 8 years have been". You get on your "barky" kick and seem to want to join in the free for all to discredit everything he is attempting to do before he even has a chance to implement anything. Sometimes you sound like Mark Levin when you get on your soapbox about big government. I happen to agree with a lot of what you say and you KNOW that I do. It's just that you seem to have prejudged this administration's objectives long before they have had a chance to pass or fail.
I happen to think that this administration has already looked at the sewriousness of what they are doing but have decided that it is worth the risks they are undertaking in order to head off even further erosion of our economy down the road. I am not smart enough to understand every avenue that they are taking but to do nothing and let the chips fall where they may is not the answer either. It seems as if it's dammed if you do and dammed if you don't these days. I'm just glad it's Barky and Biden and not me and I'm DAMN sure glad it ain't Bush and his gang.

[Guardian Angel]

Hey Jeff, I'll second that.....................

[music man]

  I agree the private health ins.co's.are a major bloodsucker of the drain on the economy.The are spending millions trying to convince us we like the system the way it is. We are told "Free Enterprise" is in jepardy & we are headed for socialism.
  One only need listen to the horror stories from people who were denied care,medicine or just couldn't afford it. Free enterprise does not work well for everything. Business hates competion yet put out P.R.that they support it.Look at your gas & electric bill from Ameren. Notice they have applied for yet another increase?

 No money for a Social Security increase but plenty of money for "Cash for Clunkers",Wall Street & failing banks. Sure its the old folks at the "Tea Parties" They are the ones who have paid for the "Free Parties!"Those getting Medicaid,food stamps & section 8 housing are for all tax increases.I have family that chooses not to work at all.

  They get the free above mentioned services.I worked 6&7 days a week for 35 years.Paid in $180,000 to Social Security. This includes my employers match. I sure don't receive a check that is even close to what I should have got for that kind of pay in. Some of these new kids are smart.Why work at all?

  I have one suggestion.We all see the commercials for power chairs for people with limited mobility.I'm 'for it but,,,,When the person dies the chair should go back & be sent to someone else.I see these chairs that cost thousands of dollars in papers for $500.00 or less.If I needed one a used one would be fine with me.The bloodsuckers are draining Medicare & medicaid dry with the fox guarding the hen-house.I have other suggestions but get tired of typing.

 

[Terry]

I said to my brother just the other day that in my next life I'm not going to school or ever getting a job.  Why bother.  THe government will take care of me just fine.  And, I won't have to do anything to get it, except maybe stand in line once in a while.
By then, I'm sure that the gov. will also give me one of those big flat screen tv's.  Make mine a 60".

[granny1]

Right on Terry!!!! I am so glad I worked all my Adult life and paid taxes so our Gov reps could live so well. I forgot, aren't they supposed to be working for us? Our lack of COL raises can pay for their next vacation. LOL

[stlcards]

Just found out this week that my employer sponsored health plan for my family of three is going up 33% this time around. Now every week that I work, I will be dedicating one days pay just to pay for health insurance. My premiums for last year totaled almost $3000 more than money paid out by Health Alliance for my family. Aren't we already in socialized medicine? I am paying for others through my insurance company now. Health insurance is by far the biggest cost my family endures. It is more  per month than my two mortgages. It is more than homeowners insurance, two car policies, two life policies, short term disability and two dental plans we have COMBINED! God bless the free market!

[Terry]

Just found out this week that my employer sponsored health plan for my family of three is going up 33% this time around. Now every week that I work, I will be dedicating one days pay just to pay for health insurance. My premiums for last year totaled almost $3000 more than money paid out by Health Alliance for my family. Aren't we already in socialized medicine? I am paying for others through my insurance company now. Health insurance is by far the biggest cost my family endures. It is more  per month than my two mortgages. It is more than homeowners insurance, two car policies, two life policies, short term disability and two dental plans we have COMBINED! God bless the free market!

Usually employers offer several different plans from which to choose.  I had HA for quite sometime, but switched when it got to be so expensive.  Other plans that offered the same benefits and were much less expensive.  If your employer offers several other choices, I suggest you look at them.  Today, other plans are as good, if not better than HA.