The New York Times recently reported that American insurance supervision (by government) is focused on the wrong problems. That’s what was claimed by the Times (here) and a financial expert, a Wharton School professor, claimed. What’s their answer? More supervision by the supervisors who failed to get it right.
Health Insurance has been regulated, controlled, restricted and overall ruined by the state and federal governments. Fifty states plus the leviathan in D.C. slowly removed the freedom of health insurers to offer different types of and different prices for health insurance. The gang of fifty one also regulated and controlled the doctors, nurses, hospitals, drug companies and pharmacies for decades but Obama tells us the free market caused problems so his solution is even more regulation which of course is completely wrong because regulation caused the problems. In fact, people were priced out of the market because premiums were artificially raised because of increasing government controls. The answer to government controlled problems is to get government out of business decisions. Obamacare created even more “Free Riders” like the uninsured people who use the Emergency Rooms to get treatment for their colds. based coverage has also long been rigged by government so that older, less healthy workers free ride on younger, healthier employees, who are charged higher premiums to lower the costs of the former. (Here).
States had very different regulations so it was impossible for insurers to price their policies the same in every state. Health Insurance could not offer the same policy in avery state so they could not allow insurers to travel to another state where their policy would break the law. Government caused the problem then condemned the insurers for following the law. Health insurance became a tool used by the government to forcibly collect money from some people, for example young people in order to give health benefits to others like older people.
Governments even rigged the game by using the tax code to force people to keep their jobs or lose their health insurance. Government did that by making employer paid health care premiums tax deductible which distorted the free market. When people left an employer they lost their health insurance. Government blamed that on business but mis-guided government mandates caused the problem. How? One way was the gang of fifty one forbid insurance companies from offering lower prices to younger people. This is how Socialism works. It forces everyone to pay for what other people get for free. Increasing the number of free-riders and partial free riders is what’s not disclosed in the Obamacare ads because the young people who have seen their health care premiums double would take to the streets in protest. But like zombies who have eyes that cannot see, the hoodwinked people. about half of America march merrily along making things worse but thinking they are better.
Some states have over 50 mandates over health insurers. How is that a free market? It’s not and Obamacare will make everything about health care worse. Obamacare is like telling the patient to commit suicide because the cure is worse than the disease. The President, his political friends in Congress, his supporters and a fawning media are sending poison into the brains of Americans. They’re killing America.