Yes, Let’s Trust The Insurance Industry’s Numbers
By Justin Gardner | Related entries in Health CareI’ve been following the stories today about that “study” (pdf) by the insurance industry and while I understand why it’s getting so much play, I have a hard time believing why anybody would believe what they have to say about their own products becoming more expensive.
Let’s run down some reasons…
- First, if the insurance companies want insurance to become more expensive, guess what? They can make it more expensive. For any reason.
- Second, the idea that covering more people and injecting competition into the marketplace will somehow drive up prices is frankly ludicrous on its face. Especially by the totals they’re claiming ($4,000 for families and $1,500 for individuals in 10 years).
- Third, the study claims that new levies will be passed right along to consumers without taking into account the idea that behavior changes along with new fees. Or, as economist Len Nichols of New America Foundation says, “[The study] assumed the tax would have no behavioral effect, contrary to every other tax in the history of civilization.”
- Last, the AARP, hardly a partisan organization, is speaking out (from the AP): AARP Executive Vice President John Rother told reporters Monday that he doesn’t think the report is “worth the paper it’s written on.” He said if anyone believes it, that’s a problem.
So what to make of all this?
Well, today the insurance industry made the case for government run health care better than any Democrat could have.
And perhaps not in response to this report, but others are making similar observations.
Moving on…
This entry was posted on Monday, October 12th, 2009 and is filed under Health Care. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
October 13th, 2009 at 12:47 am
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October 13th, 2009 at 8:02 am
The white house has sort of responded to the … thing. Not sure what to call it.
http://digg.com/d3170J2
Hopefully that shortlink works.
October 13th, 2009 at 10:52 am
I chuckled when I saw this because the Insurance industry has an obvious incentive to try and scare people.
However, I think this study brings up a possible compromise. If insurance rates go up by more that X% over inflation, then the public option becomes a reality.
October 13th, 2009 at 1:05 pm
10,000′s of thousands of AARP members are tearing up their membership cards and joinning another seniors organization because AARP is going to gain substantially.
AARP is selling out seniors on this health care debacle.
Additonally your talking points refuting the report is nothing but speculation replete with ZERO facts, reports or even expert opinion to back up your assertion.
While I am hardly a fan of health care industry(Id like my premiums to be lower too and garner better coverages) the problem with the bills coming out of the house and senate have Stiff taxes added to them not to mention prision time for that 18 year old who doesnt buy health care.
Gotta love the Democrats and their screwing the middle class attitude while they continue to funnel drugs to the poor.
October 13th, 2009 at 1:24 pm
Doomed -
Interesting that you mention drugs and delusional…
October 13th, 2009 at 5:35 pm
Doomed, just because you repeat something over and over doesn’t make it true. That’s the nicest thing I can say, because Justin always yells at me for saying what I really think.