....with the election of Mr. Brown in Taxachusetts may be immense. How immense?
Glad you asked. This morning, I woke up to (yikes!) hear Senator Franken BRAGGING that the health insurance deform bill he's working to pass would require that payouts from health insurers be at least 85% of revenue.
That may sound good on the surface, but reality is that this will push marginal insurers out of the market (supply curve goes down) while eliminating low payment/revenue insurance plans--I'd guess the first ones to go will be high deductible plans popular among those who have figured out that they can save a bundle if they take care of their own health.
In other words, "you can keep the insurance you have" is not a promise supported by the bill currently under consideration, and if the goal is to reduce the size of the medical tsunami that's due to hit with baby boomers starting to retire, the 85% rule is exactly the OPPOSITE of what you want to do--especially if the bill also cuts hundreds of billions of dollars from Medicare funding.
Little things like this are exactly why the Democrats haven't exactly been keen on discussing the particulars of this bill, to put it mildly.
Blech - Minimal posting today.
1 hour ago