White House Seizes On Goldman Sachs Report Of Health Premiums Rising
The Obama administration is making a late push for health reform by seizing on a report showing that market concentration for health insurance is so monopolized that insurance companies are willing to raise prices and lose customers in an effort to help their bottom line.
In a blog post on Sunday, Communications Director Dan Pfeiffer said that the findings, which were put together by Goldman Sachs and first reported by the Huffington Post, presented clear evidence that health insurer “profits will continue to soar under the status quo.”
The last few days have brought even more evidence that the health care status quo is working out great for the insurance companies – at the same time as it continues to fail American families and businesses. No wonder the insurance companies are spending millions and millions of dollars to block reform.”
“On Wednesday, a leading insurance broker laid out in clear terms what many Americans could already guess: the insurers’ monopoly is so strong that they can continue to jack up rates as much as they like – even if it means losing customers – and their profits will continue to soar under the status quo.
[snip]
What does it mean when the insurance companies “walk away?” It means more and more American families forced to choose between the mortgage and health care bills. It means being hospital visit away from certain bankruptcy. And for Mr. Lewis’s clients – business owners – it means not being able to do the right thing for their employees.
Pfeiffer’s post, an advance copy of which was provided to the Huffington Post, reflects a more aggressive effort on the part of the White House to turn news of premium hikes into political capital for the passage of health care reform. Elsewhere in the blog post, the communications director notes that a study by the Wall Street investment bank Cowen & Co. found that health insurance giant Wellpoint “would be a primary beneficiary” if health care legislation failed.
about 5 months ago
Finance and Marketing are two distinct fields! you should analyze yourself what you are best at i.e. knowing and understanding numbers or knowing and understanding people.
Today is the era of specialization, you have to master at least one thing at the beginning.
Choice is yours!!!
about 5 months ago
1. the proposals aren't about medical care, or even health — they're about insurance and who pays for someone else's care.
2. excluding pre-existing conditions is necessary if you don't compel everyone to buy coverage — otherwise, people will wait to buy insurance until they need someone else to foot the bill.
3. the bills so far all give the 'public plan' huge advantages that will drive all private plans out of existence over the next 5 to 10 years. This is, imo, a taking [of the business] and is prohibited by the Constitution without compensation — looks like about $5 trillion in compensation to me. btw, who'll lose? your retirement plans, silly.
4. the insurance 'exchange' in the bills sets minimum mandatory coverages by a government board without specifying how the board is to make decisions. so far, every such board in every state that has tried it, always ends up adding more and more required coverages which bloat the costs beyond all recognition.
5. the proposed funding sources all all "soak the rich" or businesses type taxes. way to go, Dudley Doright — you've just killed employment and encouraged jobs to go overseas as much as possible.
6. modified community rating — which is in the bills — blatantly overcharges the young and the healthy to give lower costs to the older and sicker. This is why 15 million people who can already afford insurance won't buy it — it costs far too much. What is proposed will make this WORSE and MORE EXPENSIVE — not better and cheaper.
about 5 months ago
That's pretty much what I was considering too… My 15 year IT career is apparently over and I've been looking for something else to do… Finance seems like it pays good and you'll do well with your logically thinking mind.