Tuesday, June 08, 2010

Bye Bye Real Medical Insurance

We knew catastrophic insurance policies, which seem to me to be the only actual medical insurance policies, and moreover certainly the only ones that had a hope of helping to control costs without simple queue-based rationing like what we have in Canada, were doomed under Obamacare.
The fallout has begun.
Of course Obama, the expert actuary, has a different notion of what insurance is.
And what kind of insurance plans did nHealth offer? The kind of high-deductible, HSA-driven plans that put patients in charge of routine care and leaves insurance to cover the crises instead. They saved money while offering better pricing signals to hold down overuse of provider networks. In other words, nHealth was part of the real solution to “steeply rising health care costs,” and ObamaCare drove them out of business. That serves as an example of how badly this government intervention will work out in the long term — and as a harbinger of what will eventually happen with other insurers.
Not a pretty picture but it is likely exactly what the big windbag ignoramus wants.


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