Friday, October 30, 2009

Public Option will Have Higher Premiums then Private Insurance?

You have to be kidding me. All this and if you get stuck on the "Amtrack health plan" you might have to pay more then if you were on private insurance?

In one bit of sobering news, the Congressional Budget Office estimated that only about 6 million people would sign up and that premiums for the government plan could be higher than for private coverage. The CBO says sicker people with higher costs probably would be attracted to the government plan. By comparison, 162 million people would remain covered through employer plans.

Again the US Government shows they don't know how to run a business. They end up with the sickest people with no healthy people to offset them. So this forces people to pay higher premiums then those that are on private insurance? I think insurance companies have absolutely nothing to fear from these amateurs.

Another messed up thing is that private insurance may get to go up because of taxes on windfall insurance, covering people no matter how sick they are, etc. will be passed on to people on the private plan. In other words they are planning to spend $1.055 trillion over 10 years in order to raise everyone's insurance premiums whether they have "evil insurance company" insurance or they are stuck with the public plan.

About the only thing I think is decent is that you might be able to do is game the subsidy that you are supposed to get from the government by buying cheap bare-bones insurance (if there will be such a thing still after these bills are pushed through.) I can see a lot of younger people doing this in order collect a little extra income at the expensive of their health care.

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