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Originally Posted by Marvelous Marv
I would disagree with this. Workmen's comp in California tripled for some businesses within the last few years, causing some businesses to go under. The premiums for a roofer can equal 2/3 of the roofer's pay, not that I'm going to Google that to provide a link.
There is a great deal of fraud on both ends of it.
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I live in California also. Work Comp. (W/C) premiums at one point were artificially high, then after some deregulation became artificailly low although losses and fraud did not decrease. During the time of initial deregulation, many W/C insurance companies priced policies artificially low to gain market share in hopes of high investment returns and the ability to raise rates befor losses caught up. It did not work. Many W/C insurance companies left the market, a few went under, and there was consolidation. Premiums went up dramatically. The biggest premium increases occured in those industries with the worst results, like roofing. The way the market responded was with increased loss control activity under the high premium enviroment. True, some companies with high frequency and severity of injuries to their workers went out of business, but those companies that operated safer grew. It is kind of like natural selection. It was a net good thing.
My point is that free markets will respond to problems if given a chance. Centralized controlled market don't seem to have this same ability.
It seems no one agrees that wait times in Canada are poor and are getting worse, that there is a doctor shortage that is getting worse, and that the increase in "private clinics" (legal or not) are attempting to address problems. On the otherhand I have admitted we have problems in the US with healthcare. But according to Big Ben I am a "brickwall", been called worse, but my mom still loves me.
