Greed will kill private insurers
Reader comment on: Richard Epstein on ObamaCare
Submitted by Robert (United States), Nov 5, 2013 12:03
Who is ultimately responsible for the private insurance industry beginning a slow collapse years before anyone had heard of Obamacare? Answer: the greedy private insurers themselves Why are they now jacking up the rates so obscenely? It's because they know that they can really stick it to American families while blaming it all on Obama. There is no way to reconcile saving lives with maximizing the bottom line.
The industry has every incentive to keep jacking up the rates because it always gets to skim 20% off the top for itself. It's an unsustainable system. If your revenues are a million, you get $200K. If they are 2 million, you get $400k. Of course pricers will go through the roof.
When we replace it with single-payor they will only have themselves to blame.
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