Market Currents
Principal Financial (PFG) says it will stop selling health insurance, another sign of upheaval...
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Friday, October 1, 2010, 10:36 AM ETPrincipal Financial (PFG) says it will stop selling health insurance, another sign of upheaval emerging among insurers as the health law starts to take effect. A possible end result: higher prices because large players will no longer face competition from smaller plans.
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This news story has 7 comments:
And by letting the market take care of itself, I mean get out of it ENTIRELY. No Medicare. No Medicaid.
Because once you start doing in between options, like subsidizing health care for old people. You create a demand in the market with no incentives on the supply to compete and lower prices. No one in the medical industry cares about competing and lowering prices because there is just this permanent demand from the government.
If you are going to provide subsidy payments for health care than you have to take control of providing health care too to control costs. You can't do one and not the other.
I am not saying we should get rid of Medicare. In fact, I'm probably more on your side. What I don't like is stupid old people in Medicare provided scooters who go to Tea Party rallies and cry about the deficit. While they are LITERALLY sitting on the cause of the deficits.
They constant hypocrisy and contradictions without a pinch of self-awareness is why I loathe the Tea Parties.
And bye the bye I said the same thing during the forty-two years I worked in the US.
No I dont give out 25% to charity down here as I have enough expenses taking care of the American kids I adopted in the States that no one else wanted.