The medical care insurance industry wants Congress to drop the idea of making a public health insurance policy, although polls regularly show the North American public wants the choice to join one. Insurers say significant health reform can be accomplished instead with further Fed regulation of their industry.
As the heart-wrenching private stories in this document demonstrate, the insurance industry has a long record of duplicity and of ignoring rules and laws in its remorseless pursuit of profits. Simply enacting a few new regulation sand shifting accountability for implementing them from the states to Fed. agencies that are lacking the funding to accomplish the job well is not a technique to transform a famously treacherous industry into a truthful one. Medicare for America Now, a national coalition of more than one thousand groups, believes Congress should extend cheap, quality coverage to everybody in a reformed system that contains a voluntary public health insurance policy to challenge private insurers. A public insurance plan will hold down underlying health costs across the land and keep personal plans fair by contesting with them. In the current environment, the insurers principally compete to avoid covering the sickest ten p.c of the people that accounts for seventy percent of medical care spending. In this compilation of revealed accounts and personal stories submitted to HCAN (Health Care for America Now) by patients and families, the insurers cited most frequently are the for-profit firms that have come to control the industry since crashing President Clinton’s health reform plan in 1993. Last year the total turnover of the 7 biggest corporations totaled more than $250 billion..
As this report shows, non profit insurance firms have different financial structures from in public traded insurers, but they’re no less driven to reject care to clients to strengthen company revenue. They control about half the personal healthcare insurance market.
Insurance firm middle management knows they can ration care with impunity because independent researchers can’t review their secret practices.
And state insurance regulators have insufficient staffs and budgets, so violations frequently remain unseen by them. The challenge for regulators is exacerbated by state laws that don’t need insurers to make public enough info about business practices so that the public and the regulators can gain a clear image of how insurers actually operate.
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Hence, insurer practices that systematically reject folk required care are infrequently exposed except in anecdotal media accounts. Even if criminal activity is caught, the fines that insurers pay to settle claims represent a little fragment of their yearly income and takings. For the conglomeration of giant insurers which has appeared from the fast and continuing consolidation in the business, fines that run into the uncountable millions of greenbacks are nothing less than footnotes on the companies’ takings reports. Insurers have come to accept the fines for even the most egregious violations as a controllable price of conducting business and have no diffidence about hazarding being caught repeating their malpractice. The price tag to millions of men and women joined up to health plans nonetheless, is commonly high. The beneficiaries of the illegal and fake activity described in this article are the the stockholders who are the owners of huge, for-profit insurance corporations. The health insurance is a big business they are not going out with out a fight even with the new reform they will still fight to minimize the role of government in their business.
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