First, let us not shed a tear for the health insurers threatening to leave (or having recently left) unprofitable state health insurance exchanges. None of the top 5 (10?) health insurers in the United States (outside the federal government) failed to make a profit (or revenues in excess of expenses, for those not-for-profits) in their most recent fiscal year. Many (most?) have large reserves or endowments that would put many to shame. Admittedly, some are losing money on their exchange plans, but that is how the health insurance game is meant to be played whether in private or in public. The wealthy must subsidize the poor and the healthy the ill (and the young, the old). They could and should amortize any ACA losses across their other plans. So, I propose the following language to be put on the books of any state where ACA exchanges are at risk:
"Any entity underwriting health insurance of any kind in the great State of XX shall also offer at least one set of conforming medal (bronze, silver and gold) plans in the State of XX's health insurance exchange." In the unlikely event that all health insurance carriers leave the state, that's a great vote for a state-wide single payer plan which is where we should be anyway.
2 comments:
Not trying to be a hater i only came to your blog after getting a link to your motorcycle prayer and i give it a thumbs up!!!
But this post is missing something fundamental 1.what is a insurance company and what are they here for. 2.if you think there should be a single payer plan then please move somewhere that has it for a few month's and come back when u realize that it doesn't work like they say it would (if u are looking to go full socialists u might want to visit Venezuela for a little first).
Good luck and have a great day!!
Lived in France for 4 years while in medical school. Single payer works great.
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