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No Watchdogs That Have A Bite On The Big Health Insurance Companies

By Robert Fredricks Posted in Health Insurance News

After suggesting for almost a year that his White House wasn’t in the business of writing a health care reform bill, that the Congress should craft such measures, President Barack Obama reversed himself this week. Instead Mr. Obama has unveiled his own last ditch reform package in the hopes of reviving the stalled health care debate. Despite ongoing efforts by the Obama White House and Congressional Democrats, polls indicate that Americans remain skeptical on the issue of health reform, fearful of yet another massive spending program that fails to address what’s really wrong with the system.

Not A Health Care Problem At All

The debate over health care in America has never questioned the superiority of American physicians, hospitals, or medical technology. World leaders continue to come to America seeking treatment. The real debate is about access to health care, and who must pay the bill. While the rhetoric sounds ominous, the fact remains that 85% of Americans are insured and enjoy access to health care including those poorer Americans utilizing existing Medicaid programs, and older Americans enrolled in Medicare. Though Medicaid and Medicare are government programs, most Americans are insured through workplace groups, or purchase insurance individually. Much of the controversy in the health care debate centers on the cost of private insurance, and the autonomy enjoyed by insurance companies in making medical decisions. Only one proposal bundled into Democratic health care legislation addresses decision making by insurance giants, a measure disallowing the disqualification of an insurance consumer who may have a preexisting condition. Many argue that comprehensive insurance reform with independent oversight coupled with tort reform and a cap on malpractice awards would go far in closing America’s coverage gap.

Does Affordable Private Coverage Exist

Prior to the advent of HMOs most Americas purchased health plans covering serious illness and hospitalization. The cost of a visit to the doctor was paid out-of-pocket. Limited coverage plans are still available, and affordable. Most working families may purchase limited coverage family plans for a fraction of the cost of an HMO plan in states where limited coverage is available. A limited coverage plan coupled with a Health Saving Account can provide comprehensive health care to most families without government assistance.

Ultimately the real answer to health care reform isn’t all that complicated. Cap outrageous malpractice judgements and malpractice premiums drop, lowering the cost of healthcare. Faced with a reduced risk of litigation insurance companies can pass savings on to consumers and regulatory bodies may be less inclined to allow rate hikes. Working families can afford health care again, and taxpayers aren’t left holding the check.

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