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Old 08-18-2009, 01:56 PM
 
Location: Chicago, IL
8,998 posts, read 13,897,538 times
Reputation: 3544

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Mike Lux: An Alternative to the Public Option I Could Live With


Quote:
There are only two real practical solutions to this problem. On the one hand, you could set up a public health insurance option that does not have the same incentives to increase profit or CEO salaries and would compete against the private insurance companies and keep them honest. That is what President Obama has proposed. Or you could regulate health insurance rates.
Now rate regulation is not a crazy idea. It's been done for years in segments of the insurance market at the state level. But if you think the private health insurance industry is fighting tooth and nail to stop a Public option -- wait to see what they would do to stop rate regulation.
So to my esteemed colleagues in the insurance industry, how's this for a compromise: we'll give up the public option but we will regulate health insurance rates instead. We will institute a system of strict price and rate controls, just like utilities have to live with where they weren't deregulated. That would do more to cut health care cost increases than any other thing we could do. So what do you think, guys?
What do YOU think?

It would be nice if the price of health insurance didn't outpace inflation.
A study in North Carolina showed that insurance premiums rose higher than wages in the state.

N.C. Medical premiums race ahead of earnings | GoDanRiver

http://www.familiesusa.org/assets/pdfs/premiums-vs-paychecks-2008/north-carolina.pdf (broken link)

I'm sure this could be said for most states.

http://charlotte.bizjournals.com/charlotte/othercities/louisville/stories/2008/10/20/daily46.html?b=1224475200^1721387&brthrs=1

Of course I realize these figures were talking about 2008
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Old 08-18-2009, 01:58 PM
 
Location: New Jersey
1,883 posts, read 1,928,223 times
Reputation: 326
I like that idea! We need to work on fixing our current system instead of trashing it for something drummed up over night.
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Old 08-18-2009, 03:19 PM
 
4,047 posts, read 4,746,872 times
Reputation: 1327
I would be OK with that, as long as they also forced insurance companies to honor legitimate claims of their paying customers.
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