Wednesday, May 6, 2009

Health Care Reform - As Suspected, Insurance Companies Fear Competition

Ah-ha!  The opposition to health care reform isn’t concerned with the quality of care a public plan will provide.  Judging from this statement, they think a public plan would be pretty good, otherwise they wouldn’t be taking about being crushed by the competition!  Per Think Progress:

As part of President Obama’s push to reform health care, he has made it clear that he supports creating a public plan that would compete with private health insurance plans. In response, the health insurance lobby group AHIP has insisted that such competition would be “potentially lethal” to their industry. Republican Conference Chairman Sen. Lamar Alexander (R-TN) is now making their arguments for them, likening the competition between private and public health insurance to mice trying to compete with an elephant:

“It’s a big problem,” Senate Republican Conference Chairman Lamar Alexander (Tenn.) said. “It’s like putting an elephant in the room with some mice and saying, ‘Okay fellas, compete.’ There wouldn’t be any mice left after a while.”

You know what that’s called, Sen. Alexander?  Capitalism.  If the bloated, inefficient insurance companies can’t compete with a better, less expensive public plan, then absolutely the insurance companies will lose.  Market has decided.  If the government can’t deliver, then folks will chose the private option.  Again, market has decided.

I do not shed tears for the health insurance industry.  They’re the ones who got themselves into this situation and they’re the ones who will have to deal with the consequences.

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