Quote:
Originally Posted by samcol
It seems like bankruptcy of insurance companies is the only possible outcome if what you're saying is true (I haven't had time to review the speech).
After bankruptcy it sounds like the government is faced with the option of letting them fail, or bailing them out. The first leads to single payer, and the 2nd leads to government controlled insurance which basically seems like the same outcome to me.
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to me it's equivelant to the sub prime mortgage situation. the govn't forced banks to lend money to people who couldn't afford it. The same is going to be true with insurance. They are going to force insurance companies to accept everyone and eliminate annual and lifetime caps, as well as reduce out of pocket maximums. There is no feasable way this can work unless they also force hospitals and doctors to take a considerable pay cut in terms of what procedures cost. I'd love to see how the AMA would react to that.