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Friday, March 24, 2017 1:09:36 PM
Is it time to invest bigger in 'Big Insurance'?
Why Big Insurance Adores the American Health Care Act
This plan gives health insurance companies a chance to profit even more than they did from the Affordable Care Act — and with fewer restrictions.
By Wendell Potter | March 23, 2017
President Donald Trump speaks before a meeting with health insurance executives. Clockwise from bottom: Patrick Geraghty, CEO of Florida Blue; Vice President Mike Pence; Stephen Hemsley, CEO of UnitedHealth Group; David Cordani, CEO of Cigna; Scott P. Serota, president and CEO of Blue Cross Blue Shield Association; Andrew Bremberg, director of the Domestic Policy Council; Joseph R. Swedish, CEO of Anthem; Bernard Tyson, CEO of Kaiser Permanente; and Daniel J. Hilferty, president and CEO of Independence Blue Cross, Feb. 27, 2017 in Washington, DC. (Photo by Brendan Smialowski/AFP/Getty Images)
There’s been a lot of talk about just who was hurt and helped by Obamacare and who will profit or be imperiled by the next phase of health care legislation. Yet health insurance executives have been curiously silent about the House GOP plan to repeal and replace Obamacare. While the American Medical Association and the American Hospital Association, among many others, have come out against it, insurers have clearly made a strategic decision not to show their hand.
But know this: They love it. Their fingerprints are all over what the Republicans are calling the American Health Care Act. Arguably the only thing they don’t like about House Speaker Paul Ryan’s Ayn Randish creation is the way the plan would slash funding for the Medicaid program. That’s not because insurance executives are more compassionate for the poor than they’ve been in the past; it’s because a growing percentage of their profits now comes from Medicaid. In fact, more than half of the big insurers’ revenues is now coming from the government, not the private sector. And they’re fine with that.
Make no mistake, health insurance lobbyists also helped shape the Affordable Care Act. Most notably, they were able to get a provision stripped from the bill that would have created a government-run insurance plan (the “public option”) to compete with private insurers. But they didn’t get everything they wanted.
It gets rid of those pesky new rules on consumer protection
to get an idea of what that means .. is scary ..... going back to the badder old days as happens with every republican who governs
http://billmoyers.com/story/why-big-insurance-adores-the-american-health-care-act/
Why Big Insurance Adores the American Health Care Act
This plan gives health insurance companies a chance to profit even more than they did from the Affordable Care Act — and with fewer restrictions.
By Wendell Potter | March 23, 2017
President Donald Trump speaks before a meeting with health insurance executives. Clockwise from bottom: Patrick Geraghty, CEO of Florida Blue; Vice President Mike Pence; Stephen Hemsley, CEO of UnitedHealth Group; David Cordani, CEO of Cigna; Scott P. Serota, president and CEO of Blue Cross Blue Shield Association; Andrew Bremberg, director of the Domestic Policy Council; Joseph R. Swedish, CEO of Anthem; Bernard Tyson, CEO of Kaiser Permanente; and Daniel J. Hilferty, president and CEO of Independence Blue Cross, Feb. 27, 2017 in Washington, DC. (Photo by Brendan Smialowski/AFP/Getty Images)
There’s been a lot of talk about just who was hurt and helped by Obamacare and who will profit or be imperiled by the next phase of health care legislation. Yet health insurance executives have been curiously silent about the House GOP plan to repeal and replace Obamacare. While the American Medical Association and the American Hospital Association, among many others, have come out against it, insurers have clearly made a strategic decision not to show their hand.
But know this: They love it. Their fingerprints are all over what the Republicans are calling the American Health Care Act. Arguably the only thing they don’t like about House Speaker Paul Ryan’s Ayn Randish creation is the way the plan would slash funding for the Medicaid program. That’s not because insurance executives are more compassionate for the poor than they’ve been in the past; it’s because a growing percentage of their profits now comes from Medicaid. In fact, more than half of the big insurers’ revenues is now coming from the government, not the private sector. And they’re fine with that.
Make no mistake, health insurance lobbyists also helped shape the Affordable Care Act. Most notably, they were able to get a provision stripped from the bill that would have created a government-run insurance plan (the “public option”) to compete with private insurers. But they didn’t get everything they wanted.
It gets rid of those pesky new rules on consumer protection
to get an idea of what that means .. is scary ..... going back to the badder old days as happens with every republican who governs
http://billmoyers.com/story/why-big-insurance-adores-the-american-health-care-act/
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