Insurance was always looked at by the public as a gamble on the part of the company issuing the policies. In response to accepting the risk, the company could dictate the insured behave in a manner ensuring there was a lessening of the risk executed or undertaken, or that the insured pay more for the coverage. For example, a man specializing in Bomb Disposal could be ordered to maintain certifications, training and protective equipment and its upkeep to cut the risk of him becoming fertilizer at the scene of a bomb disposal.
But insurance companies are now being commanded to provide coverage for pre-existent losses. They are being commanded to provide care for people with diseases already diagnosed: Rheumatoid Arthritis, Heart Disease, Diabetes, Kidney Failure, Hemophilia; ad infinitum. This means before the first premium is paid to offset the cost of diagnostic procedures, billions of dollars are to be considered lost by insurance companies. There is a “high risk” insurance pool for people with existent diagnoses but few have voluntarily signed up for it in Louisiana. Insurance Commissioner Jim Donelon says 20% of Louisiana residents lack coverage by choice. As is noted in age demographics younger people simply do not buy insurance out of choice.
Consider this: NO premium paid; including “normal” co-payment by the insured will cover a heart attack. That’s an irrefutable fact. With guaranteed coverage the insurance company starts the procedure in debt and doesn’t make up the loss except by shifting costs and premiums upward; way upward. Therefore the cost will be spread among the other people already paying for their own coverage. In this case the debt becomes redistributed and jeopardizes everybody’s wealth (or subsistence if you will).
It’s the responsibility of the agents to sell the coverage. The nature of the industry requires prices be quoted and viable to ensure competitiveness. But that now becomes more difficult because the industry must increase their rates dramatically overall to overcome the losses projected by forced coverage of industrially detrimental risks. What they lose, they must replace.
Obama and his people say approximately 129 Million people in America can be denied health insurance coverage in America. With a population of approximately 300 million living, that’s nearly HALF the total population. For the State of Louisiana, estimates are made (by the same people) as many as 1.2 Million people will do without coverage unless this program is enacted as is. This is nearly 50% of the state population without coverage. Obama will allow no changes. It’s all or nothing. The Republicans will accept none of it. They want to repeal the bill and start over anew.
We’ve discussed the element of insurance and its responsibility to offer financial protection against the unknown hazards of life. We understand this ensurance, or an act of protection, was based on recognizing the risk in the policy holders’ environs and the risks’ contribution to the balance sheet as it applies to what the costs are.
But ObamaCare doesn’t want ensurance as a form of insurance’s mandate. It wants insurance as an assurance, a guarantee anybody can receive the coverage and that the general populace will foot the bill for those not being covered, not choosing to be covered or rejecting coverage. ObamaCare requires participation by ALL. It mandates forced compliance with severe sanctions for non-participation, enslavement if you will, to a system shown to be detrimental the people actually paying the cost. This is a program Congress has rejected for itself but pressed against the people with their privilege of vote. And it’s a vote denied the people by rejection of a right to state and/or national referendum on the matter.
Now there’s a great deal of bluster, smoke and mirrors and theatrical sleight of hand being postured over by both sides of the aisle as it concerns Repeal v. Amendment of this act. Pro wants abject acceptance without change, the Con side of the argument wants total repeal without anything accepted. The American people see the drama and never get the facts on the matter because of political pandering to keep their jobs.
It’ll be interesting to see whether the Supreme Court actually has the guts to determine the Constitutionality forcing individual; citizens to pay for another’s medical costs; or can a seated government require a citizen to buy what he does not desire. None of this wrangling over the root cause helps us advance in this matter. Neither the insured nor the insurers are profiting now and the suffering will continue.
Thanks for listening
