Sliver of Truth
Submitted By Todd on October 25th at 10:08am
Insurance brokers and benefits consultants say their small business clients are seeing premiums go up an average of about 15 percent for the coming year — double the rate of last year’s increases.Could fear of government intervention be playing a role?
Higher medical costs aside, some experts say they think the insurance industry, under pressure from Wall Street, is raising premiums to get ahead of any legislative changes that might reduce their profits.What do the socialists, like Nancy Pelosi, have to say in their defense?
“This underlines the urgent need for health insurance reform, including a public option,” she said in an interview. “We need to have competition for the insurance companies to keep premiums down.”I remain confused about what exactly the Public Option is for. Pelosi is repeating the traditional argument that it will drive down costs by competing, with lower prices, against the evil insurance companies. But this will surely drive insurers out of business.
Then there's the argument, repeated by New York Congressman Anthony Weiner on Hardball last week, that the "robust" Public Option, designed to keep the insurance companies honest, will cover so few people that it will have no impact.
And frankly, this notion that it's some kind of far-out lefty idea of having a sliver of competition for these plans-and it's just a sliver because, frankly, you won't be able to get it. I won't be able to get it. It's only going to be for people who have no insurance coverage. That amount of-that amount of competition is hardly a radical notion.So, is it the Superman of insurers, able to offer lower costs and drive down the costs of everyone, or is it the little thing over in the corner, a convenient tool to use for the poor that will not upset the order of things?
I would like to have a debate and we're going to have it on the floor, whether we get rid of insurance companies. I think we should. But that's not what this argument is about. This is about whether we're going to have a tiny sliver of competition.We have to assume the obvious. No one fights this hard for a sliver of the pie. These gluttons want the whole pie, and they'll say anything to get it. If they ever tell the truth about what they're after, it'll be a tiny sliver.