CNBC : reported that Maybe it's time to pull the plug on health insurance —Commentary

Maybe "health" and "insurance" simply don't mix, considering the fact that poor health is basically a certainty for all of us and the insurance model is based on hedging against less likely outcomes. Other than the old "major medical" plans that could help defray the cost of unexpected emergency care, health insurance doesn't really make sense if the goal is to reduce costs and/or improve access to care. The OpenSecrets.org watchdog site shows that the insurance industry overall has spent $78.6 million in lobbying this year alone, with the health insurance giant Blue Cross/Blue Shield the top overall spender at more than $9 million. What would disappear is the ability of all our health care providers to mask their true prices and costs. It's about removing a series of unfair political, financial, and cultural advantages health insurers have enjoyed for too long.

Return of health insurance tax will hike premiums by 2.6% next year, report estimates

The return of the Affordable Care Act's health insurance tax—which insurers have long lobbied against—will likely increase premiums by an average of 2.6% in 2018, according to a new analysis. But the delay expires in 2018, and with the tax's return, premiums are expected to rise. In total, the return of the tax is projected to increase health insurance premiums by as much as $22 billion next year, and $267 billion from 2018 through 2027. Indeed, a study produced by Oliver Wyman back in 2011—and commissioned by America's Health Insurance Plans—predicted that the tax's implementation would raise premiums. "Allowing the health insurance tax to go into effect in 2018 will directly hurt middle and low-income families," they wrote.

Better options exist to improve health insurance for farm and rural residents

A two-tiered healthcare insurance system that includes both private insurance coverage options as well as government options for those who can't afford anything else, is likely to succeed. There are big income and healthcare gaps between agricultural and rural residents who can pay for healthcare insurance and those who depend on subsidized assistance. A two-tier private and national healthcare insurance system works well in many countries. A government-regulated, single processor would also halt tactics some private insurers undertake, such as denying claims even when they are submitted correctly. This tactic delays payments to providers and drives up healthcare costs for their resubmission, or shifts the burden to the consumers.


collected by :Lucy William

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