Who Wins and Who Loses when Health Insurance Companies are Federally Controlled?
March 2010
With President Obama's
medical coverage bill in its final stages, both supporters and opponents are offering their predictions of what's going to happen to the market if health insurance companies become federally mandated.
Depending on your political affiliations, it's either going to be bad for us, or it's going to be bad for them.
If you oppose the medical coverage bill, odds are that you don't like that it doesn't do enough to cut costs. As it says in an article on
health care legislation at the New York Times, everyone wants to cut costs, but no one wants to cut benefits.
For example, cutting Medicare for everyone under the age of 55 and replacing it with "a voucher system" was one idea that would preserve the autonomy of
health insurance companies while lowering costs.
While it was suggested by Republicans, no one on either side of the aisle supported it. Doing so would mean that some people are going to suffer without coverage, and no one wants to cast a vote that indicates that they knowingly allowed that to happen.
In contrast, if you're in support of the medical coverage bill (or at least marginally so), you're likely convinced that it doesn't do enough to offer coverage.
While it
does put insurance exchanges into business as a means of offering health insurance companies competition, it isn't a public health plan.
Facts on:
Depending on your political affiliations, it's either going to be bad for us, or it's going to be bad for them.
Did you know...
As it says in an article on health care legislation at the New York Times, everyone wants to cut costs, but no one wants to cut benefits..
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So will the bill pass? Probably, meaning that health insurance companies are going to have to make some changes, and fast. These insurance exchanges are supposedly going to offer basic medical coverage at affordable prices.
However, exactly what will be offered and whether or not Americans will be able to rely on it remains to be seen. Health insurance companies will likely be the place where people go if they want top quality coverage, but no one knows how much it will cost.
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