Health Care Reform: Insurance Costs Have Only Started To Go Up

We knew that the health care reform would change the face of the health care industry forever, and we even expected a little repercussion in the insurance industry, but I do not believe that the administration had any comprehension of what would come about when they made this law. Personally I believe that many of the most hated provisions of the law were included as part of the political “good old boy” mentality and satisfied some sort of back room deal both parties are so fond of saying the other party engages in.

Insurance Costs On The Rise

And believe it or not, many hospital administrators are saying that the amount they receive from the insurance companies may decrease. Some national companies have even dropped the child only packages in answer to the preexisting conditions clause. Some companies like McDonald’s and other food industry insurers are saying that the high turnover rate of the industry demands a waiver for the minimum expenditure portions of the law. A waiver that the HHS Department granted…for one year.

Needless Things

Stephen King would be proud of the horror that the 1099 reporting requirements brought about. Another thing I would like to know, (on a personal level,) is how does this relate to the goals that the health care reform originally had? I understand that the health care industry is chock full of business and money being spent, but couldn’t this have been handled on a bill more appropriate to the purposes of this measure?

All In All

We, as the middle and lower classes, will absorb the brunt of the costs associated with this fairy tale. I call it a fairy tale due to the fable that all of the measures in this law will help, and are related to the universal health care insurance that this was supposed to promote.

Posted by Ken Masterson on Oct 24 2010. Filed under Business, Featured, Personal Finance, Politics, U.S. Economy, Washington. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.