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Thursday, July 2, 2009
Boomer with Attitude / News What health care 'free market'?
Posted By John Grooms on Thu, Jul 2, 2009 at 12:30 PM
As a follow-up to my column this week on health insurance companies, which has triggered an, er, healthy online discussion (along with the usual name-calling), here’s an interesting sidelight to the debate in Congress. Just how out of touch are some politicians when it comes to average Americans’ struggles with insurance companies? Some of them, specifically Sen. Richard Shelby of Alabama and Sen. Olympia Snowe of Maine, say that the one thing they want to avoid is cutting into health insurance companies’ profits.
Snowe is expected to support health care reform in the end, but Shelby is adamant in opposition, saying that Pres. Obama’s plan for a public option would "destroy the marketplace for health care,” to which most Americans would answer, “*What marketplace?” Since when do Americans enjoy anything resembling a competitive marketplace for health care?
A new report from the reform group Health Care for America Now (HCAN), using AMA data, shows that 94 percent of the country’s insurance markets are “highly concentrated,” according to Dept. of Justice standards. Rather than offering much choice for consumers, the report states, the current health insurance system is "a market failure where a small number of large companies use their concentrated power to control premium levels, benefit packages, and provider payments in the markets they dominate."
Gee, no wonder premiums have nearly doubled in the last six years, while profits for 10 of the largest health insurance companies shot up over 400 percent. That kind of “marketplace” we can, and should be able to choose to, do without.
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