Daily News Updates - Health Insurance News

Paul Revere, but not Robin Hood, Pt.5 -- The Reverse Robin

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If we follow this trail to the end then, just like the history of credit cards, we can see that it's Robin Hood in reverse. Even beyond the obvious injustice, the approach McCain may well add to spiraling health insurance costs. With the sickest 10% of Americans already responsible for 70% of the nation's health expenses, if even more of these Americans lose health insurance, they will skip checkups, and land in the emergency room for lack of any other means All this will end up costing taxpayers more then it does now. Diverse risk pool membership is central to viable health insurance. McCain has, as much as, admitted that just relying on an unregulated free market cannot fix this problem (making the rich richer at the expense of the poor only exacerbates the problem).

When it comes to necessities in a national economy, it becomes essential to implement protective regulation. We can’t leave the driving to those who only care about themselves. Why do we need a government at all if it’s every man for himself? Haven’t we learned anything from feudelism? How can we remain a developed nation without an effective government? No, technology won’t do it. We need an executive who will protect all of our peoples. We’re talking about national protections against practices like raising rates for people who are paying their bills on time. If the feds are going to take the wheel away from the states, then they need to commit responsibility to address prudent protections. As subtle as McCain’s little trojan is, it has profound implications. National government needs to “do more to bring down average health insurance costs: bringing small businesses into risk pools with individuals, using mandates or automatic enrollment to expand those pools, and deploying tax subsidies to make health [insurance] coverage more affordable,” as Mr. Gordon puts it. It would be reckless and remiss “ to neuter state regulations while putting nothing in their place. That will leave the sickest people in more trouble than then are in now.” My many thanks to Robert Gordon and the good people at Slate.com.