Wednesday, October 14, 2009

Insurance Industry Not Happy with "health plans full of sick people."

This is all you really need to know about the health insurance industries position on reform:

(Bloomberg) -- "The U.S. health-care overhaul that emerged yesterday from the Senate Finance Committee after a month-long debate won support from every health industry group except insurers, who said the failure to require all Americans to get coverage will drive up premiums.

“What they came to realize is there are lots of ways they can get hurt without a public plan,” said John Sullivan, director of research at the health-care investment bank Leerink Swann & Co., in a telephone interview. “One way is to have health plans full of sick people.”

For an industry set up to help sick people pay their bills, it looks really bad when they complain about helping sick people pay their bills.

If that's their position, then why do we need them at all?

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