Obama to fix health insurance prices
In news that should surprise no one, and concern everyone, the Obama Administration is looking at controlling the cost of health insurance by fixing prices.
Backing up his rhetoric behind the scenes, the Department of Health and Human Services (HHS) is quietly working on a new regulation to determine when insurance price increases are “unreasonable” and potentially prohibited by law.
The part that continues to confuse me is the implication that this price-fixing idea is new. It’s not. It was in the bill. Even if you didn’t read the bill however, the fact that price controls were going to be necessary isn’t rocket-science. If health insurance is going to be made “affordable” for everyone, then it had better be cheap. And if it’s going to be “fair,” then everyone had better be receiving the same level of care.
Of course, price fixing isn’t the same as cost fixing, so Obama’s grand scheme will ultimately come true: private insurers will go out of business. Why? Because the cost of a MRI won’t change, while the money insurance companies can charge customers will. Without private insurance, we all get to run into the waiting arms of the government.
HHS spokeswoman Jessica Santillo said under the health care law “insurers will be required to publicly justify the kind of unreasonable rate increases that have made coverage unaffordable for so many American families. Reviewing rate increases will go a long way toward ensuring that consumers finally get the value they deserve for their premium dollar and this new transparency in the health insurance market will encourage insurers to do more to control health care costs.”
Awesome. This is all about the government helping American Families. What a bunch of liberal b.s. There won’t be any justification for rate increases that satisfies the HHS. Thus, all rate increases will be denied. Thus, private insurers will go out of business. And the proof? The whole damn thing is based Massachusetts’ health care plan. How are private insurers doing in Mass?
Massachusetts was forced to put three insurance companies under oversight due to concerns about their financial health.
You can’t tell a company they can only charge $5.00 for procedure X, when it still costs them $10.00. To quote our esteemed president, “it’s not sustainable.”