Morning Joe and Nancy Pelosi discussion


Morning Joe is talking about an interview Nancy Pelosi gave about the passage of the Health Care Bill.  She is claiming, in this interview, that the opposition was fighting FOR the big insurance companies.

I think she is delusional.  She just passed a law making every person in America buy their product.  Why would she think the other side saying no no no would be a benefit to them?

Sure they have to have pre-existing conditions, etc.  However, there are a large number of uninsured young people who rarely get sick!  I think we need an actuary to sort this out and just figure it out.  Stop pointing fingers and answer the question.

I personally don’t think either side cared about insurance companies in the least while arguing this topic.

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4 responses to this post.

  1. Good post. I think she is delusional.

    Reply

  2. Posted by Yoshi on March 23, 2010 at 3:06 pm

    You are correct that a lot of young people do not have insurance and don’t often get sick.

    However, I bet most of them would like to have insurance yet can’t afford it. One estimate puts the average cost of an individual plan at $2,895 per year.

    The minimum wage is $7.25 per hour. That means if nothing was withheld for taxes, someone would need to work 400 hours to afford the average cost single person health plan.

    Its true younger people would have cheaper insurance on average since they are lower risk, but you see that for those people starting off in life, its very difficult for them to afford insurance.

    While I don’t like government mandates in general, the idea behind this is to get everyone into the pool. That is how insurance works best. If the lowest risk groups are not part of the pool, then the overall cost goes up. That is a basic principal of risk management.

    Reply

    • Still going to stand by the statement that we need a good actuary to look at this and see what is really going to happen. Forget the arguments….Do the math….

      I also fail to understand her point that the Republicans opposed this because they like the insurance companies. If the government will subsidy will provide health insurance for these younger, poor, yet health folks does that not give a boon to the insurance companies? I know if I was a company such as she says she loathes I would be happy to take the governments money and put it in the pile….Something about her statement was wrong. I think this bill will help the insurance companies through that government subsidy.

      Reply

  3. Posted by Yoshi on March 23, 2010 at 7:46 pm

    This has got to be a mixed bag for insurance companies.

    On one hand they are being given 30M new customers.

    On the other hand they are having their business practices curtailed. So they can’t cherry pick the profitable customers and get rid of the ones that are not.

    I have no idea which “hand” will win out.

    Reply

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