Daily News Updates - Health Insurance News

Health Insurance & Capitol Hill, Pt.4 – Feeding the Friedmanism Frenzy?

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As mentioned earlier, Mr. Goldstein’s short WSJ article has stirred up a hotbed of controversy (which is good). The number of worthy blog responses quickly became to numerous to cover. I’ve included a short synopsis of the earlier ones of worth:

We have an interested blogger named “Dr. R.K. "ravi" Pandey (‘ravi’)” who would like further clarification. ‘ravi’ well notes that mandates alone do not guarantee ‘affordability’ of health insurance/care. To quote: “As [far] as I am concerned, you might [just] be increasing the business for [health] Insurance companies.” It must be obvious to all by now that the last 8 years have been a sharp move toward corporate ‘Friedmanism’. Harvard economist Milton Friedman won the hearts the hard core capitalists when he professed, to the effect – “[The] only responsibility of a Corporation is to maximize shareholder value - period.” Even the high visibility success of the Massachusetts health insurance/care Model has become beset by an inherent cross-purpose. They have guaranteed the free-enterprise medical industry all the business they can use. Now, it’s turning into another ‘haliburton’.

The early major strides of the Massachusetts health insurance/care Model were commendable (and still are). But that one nagging criticism of the model not being fiscally sustainable still looms. If it’s not diffused soon, it could turn into an Achilles’ heal. Although Mitt Romney is no longer an authority (to my knowledge) on the Mass. Model, perhaps he should be. He is still passionate enough to see it succeed and sternly warns that the next major step needs to be cost containment. For the very wise insight he is advising as the next required strategies, please refer to the article series entitled “Mass. Health, A Creator Explains”.

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