William Chirolas -- World News Trust
Aug. 17, 2009 -- Well, Well, (no) public option, (Obama's HHS Sec) saying it is "not the essential element," and we learn Obama "will be satisfied" if the private insurance market has "choice and competition."
What remains????:
--The mandate; a gift to the insurance industry of sales with near-zero marketing cost.
--Plus, subsidies of premium; another gift to the insurance industry.
--And, the Pharma promise of $80 billion over 10 years via lower costs for the Medicare drug "hole," gained by our stopping any buying of drugs from Canada; another gift to Pharma.
The above is too much to pay for a promise to run individual health policies like group health policies with little or even no pre-existing condition refusals (Heck those reins pools remove the risk so what is the big deal) there is no big give-up to Obama to justify the gifts to the industry. There is no cost control in the system currently, and the "exchanges" add zero additional cost control.
There is no insurance company regulation panel that sets coverage and premiums for the health insurance companies -- as in Germany -- and the "best practices" are just suggestions. Also, end of life counseling is out. There is nothing left except Medicaid expansion.
Do the Medicaid expansion only, and kill the bill dealing with insurance beyond the provision for no pre-existing and the related reinsurance system.
***
William Chirolas brings 40 years of real-world business experience in local, state, national, and international tax, pensions, and finance to the world of blogging. A graduate of MIT, he calls the Boston area home, except when visiting kids and grandkids.