TPMCafe
« What is Obama's real plan for Afghanistan? | Home | Obama Taking Wrong Course with Conditionality Approach to Cuba »

And God Created the Private Insurance System

user-pic

Or was it the Founding Fathers? I forget.

Get Mary Landrieu's language on ABC's This Week yesterday: "those of us that are against public option [sic] are against it because we think it will undermine the private sector."

And the reason why that's a bad idea is--?

Health care certainly needs doctors, nurses, and people who perform all manner of work in hospitals and clinics. It benefits from prevention, nutrition, technology. And what's the reason why it needs private health insurance companies? I've yet to hear any.

What Landrieu obfuscates, of course, is that the only reason health insurance companies are players in the current debate is that they pay to play. They make piles of money and therefore have political clout.

And remarkably, even if most insured people say they like the particular policy they have, the public as a whole is consistently in favor of single-payer, and likes the public option despite the prospect--or because of the prospect--that it might grow into a national health system.

Wouldn't it be a hallelujah day if an interviewer asked a politician why we need private health insurance companies in the first place?


26 Comments

| Leave a comment
user-pic

And if they did ask the question Todd they'd be looked at like they had 2 heads. This is America and everything, and I mean EVERYTHING including life and death, must have a price tag attached to it.

I think that was said on the 8th day...

user-pic

It would help if people knew this:

WALL STREET IS BETWEEN YOU AND YOUR DOCTOR NOW.

http://investing.businessweek.com/research/stocks/ownership/institutional.asp?ric=WLP


Wall Street Banks hold these percentages of shares in Health Insurance giants and are increasing shares by the tens of millions

United 77.32%
WellPoint 79.04%
Aetna 79.45%
CIGNA Corp. 68.71%
Coventry Health 82.25%
Health Net Inc. 79.37%

Wall Street is the enemy. Can we afford another bailout for these people and their bonus structure!

user-pic

True health insurance reform would include a self-insurance provision. Lacking that, a single payer option is the best approach. Lacking that the public option is a good approach. The current approach of providing a "trigger" is no reform at all, it is just a way to insure that the health insurance companies get more time to rip off Americans.

Face it. Health insurance reform is a dead issue. It never was intended to do anything other than to increase the flow of campaign contributions into the coffers of current members of congress. It is the old mafia protection racket. You (health insurance companies) have a profitable business. We want some of your profits for ourselves or we will make it impossible for those profits to continue.

The health insurance industry is coming through with those campaign contributions so health insurance reform is a dead issue. The only thing left is for Americans to realize that it is dead.
.

user-pic

All those companies could be 'bought out' from shareholders at a 50% premium to current share prices for less than $200 billion.
This could be done through Fed-susidized MBOs in concert with current managements or new groups. They could then all be turned into mutual companies serving ONLY policyholders (AKA patients) and no longer kissing shareholder ass.

user-pic

To keep an eye on the industy's size, share price performance, etc.:
http://www.google.com/finance?catid=52935503

user-pic

That is too sensible a question. We don't have too many people in the MSM who might think to examine this at such a basic level. And nobody in congress would even think to broach such a fundamental change, no matter how broke the current system is. Insurance is a perversion in all ways and healthcare is just a piece of that perversion.

The notion of insuring against something bad that you know will absolutely occur is actually pretty stupid. The only thing that makes sense is to handle the idea of becoming sick and dying through a public program. Private enterprise doing it endorses the idea of making money from people getting sick and dying. Why would we want to pay through the nose for that?

user-pic

Boy, I'm with you, I want to die for free.

user-pic

Remind everyone, again and again, that insurance companies are for the generation of investment capital, not for the provision of "coverage" of premium-payers. Coverage is a cost of doing business, and a drain on that investment capital.

When an insured's "worth" is less than another investment, that claim will be creatively denied.

user-pic

Amen. Amen. Amen.

user-pic
"Get Mary Landrieu's language on ABC's This Week yesterday: "those of us that are against public option [sic] are against it because we think it will undermine the private sector."

It's interesting that you focus on this meme. I think it's largely false unless we are catapulted into a single payer system after I click my heels 3 times.
Big Insurance will have to adjust. And they WILL, even if we were to get single payer. I guarantee they will have a product to vend for a tidy price. They will simply be unable to garner windfall profits at whim or to cast their subscribers onto deathbeds with heartless abandon.
I'm going to go weep and sob for United Health and it's impending doom...(not)

user-pic

I can see one role for private insurance -- obviously a single payer model would have to set some standards for effectiveness and that means known and measured treatments. What if I bought insurance that would give me access to experimental treatments not covered by the public plan? It'd be a back-up. As I understand it, if I wanted some special treatment that the public plan wouldn't pay for, I'd be free to go pay for it on my own. Why not, in the case of more expensive experimental treatments, I buy insurance for that?

user-pic

How about for cosmetic surgery and alike?

I got it!!! Americans have a love affair between them and their pets. They could start a pet health insurance venture...and probably make some good money off of it.

user-pic

Sure, why not to both? It's not that I'm against private insurance, I'm against it being the primary vehicle for necessary care. Make it a product that delivers special stuff and it's fine by me.

user-pic

Absolutely. I have no problem if people want to buy a more comprehensive coverage package in the marketplace, if that is their choice. But basic coverage for all wellness, preventative and corrective care, including hospitalization and all procedures, to keep America healthy should be fully paid for on behalf of the American people. From there let people choose any additional coverage they might want.

user-pic

You're making too much sense. Go back to your room young man! There's no place for that kind of talk in our 'uniquely American' political dialogue.

user-pic

(Actually, I think pet health insurance already exists.)

Doesn't apply to your post, but if the government run of anything is inept, bumbling, a disaster...the line we hear daily from the opposers of anything government, a public option should be no threat at all to private insurers and certainly not drive them out of business.

How to reconcile the argument that the private sector can't compete with the power, wealth and size of a government with the argument that nobody in his right mind would opt for the bumbling government health insurance option anyway.

One of the (very) few pluses of capitalism is if you put out a good product, you'll stay in business and if you don't you'll fail. Health insurance providers tout the superiority of their product, don't they, so why are they afraid of a little competition.

user-pic

No, I really can't agree with that assessment of the federal government. After Hurricane Andrew, at the end of the 2nd Clinton administration, FEMA hit the ground running in south Florida like a well oiled machine. By the time we got to Katrina the republicans had so gutted the agency that it was doomed to fail in its task. The reason that government is so ineffective at times is because its effectiveness is at the mercy of elected politicians in DC...many of whom, i.e. the R's, want it to fail for ideological reasons.

user-pic

I realize that your post wasn't one against government intervention phelicity. In fact it was making the case. But I recoil in a Pavlovian kinda way when I hear the 'government is too inept to run anything' meme...

user-pic
Wouldn't it be a hallelujah day if an interviewer asked a politician why we need private health insurance companies in the first place?"

How about ANY interviewer asking ANY politician to discuss the policy merits of the public option, rather than focus solely on the politics?

user-pic

"Congress shall make no law respecting the establishment of HMO's....."

That's in there, right?

user-pic

We have already had what we need, a real mutual insurance company. These were deconstructed when Wall Street decided they wanted to get into the massive funds mutual insuacne companies had created, and to this day not one organic [for lack of a better word, suggeting no herbicides or pesiticides or shareholder profit] mutal insurance company exists in this country, although they had and were very successful.

The truth is, we have a history that, if a mutual insurance company made a profit at the end of the year, it was rolled into the next year, not some shareholders's profits, and when the disaster fund became so massive there was no longer any reason to keep that much money in reserve and demand premiums, the premiums were reduced, or the policy holders received rebates. These are historical facts.

Let the execs make a crazy salary, but any bonus would be a percentage of rebates, no some flat bazillion dollar annuity or stock options. Bonuses only based on performance, not merely surviving at the position.

user-pic

and this might be just the opening we need:

http://theplumline.whorunsgov.com/health-care/cantor-to-hold-public-health-care-debate-with-democrat/

Go Bobby Scott! I hope this debate is widely publicized. Play it up. Make it count.

user-pic

All I want to know is how to get in on the game...

I want *my* business model to be protected by federal legislation!

It's clear, everybody knows that *my* industry is a very important part of the economy, and the special place it occupies is earned through hard work and delivery of valuable service.

That's my story and I am not only sticking to it, I plan on making sure that everyone in the country knows it through my entirely justified and honest efforts to persuade the legislature...

user-pic

Get Mary Landrieu's language on ABC's This Week yesterday: "those of us that are against public option [sic] are against it because we think it will undermine the private sector."


And the reason why that's a bad idea is--?

... is perfectly plain: how many campaign contributions come to Neocomradess Senator M. Landrieu from the Evil Public Sector, after all?

Happy days.

user-pic

When my wife has an operation, she just gets a statement from Medicare stating what they paid, and there is nothing more to it.

When I have an operation, I get a statement from my private insurer showing what fraction of the bill they paid, and I have to deal with bills from every single participant in the operation.

user-pic

Yeah well, Obama stood there before Congress and announced corporate for profit insurance was here to stay...

Every Democrat in Congress... save Dennis Kucinich and every Confederate Party member... whoops I mean Republican... jumped to their feet and cheered.

Of course that was for our benefit to convince us we really have not been sodomized repeatedly by the insurance corporations over the last 30 years.

Much like the CIA tortured detainees, I have the blood in my shorts and the flashlight up my a** to prove it.

Congress is full of bought off worms. Vote them all out regardless of party.

Leave a comment

Advertisement
Please disable your adblocker!
Ads are how we pay the bills!

Subscribe

The Coffee House
TPMCafe's regulars

House Brew
From Your Cafe Editor

Special Guests
Big names and big brains

Special Features
Pressing topics and trends

Table for One
An expert's week-long talk.

All Reader Posts
TPM readers discuss.

Book Club Calendar

Coming Soon



Nov. 30-Dec. 4



January 12-16



« Book Club ArchiveFull calendar »

Recent Reader Posts

All Reader Posts »





Masthead

Editor-in-Chief
Josh Marshall



Subscribe to TPMCafe's feed.
Subscribe to TPMCafe's reader blog feed.

Advertise Liberally
Share
Close Social Web Email

"To" Email Address

Your Name

Your Email Address