Preserve Private Industry
July 28, 2016 at 4:25 p.m.
By -
The health insurance industry ranked 35th among industries in the USA in 2009 in terms of profits as a percent of revenue, at 2 percent, according to Fortune magazine. Industries such as medical products, oil industry, pharmaceuticals, railroads, mining, household products and internet services all earned between 9 and 20 percent profit.
So why is it that the insurance industry is demonized? Because an inefficient Federal government would like to dictate both the health insurance costs and the benefits? If one was to pick on the big money makers, it would be those just listed and many others.
Look what cars cost. And all we need them for basically is to get to work and to bring some groceries home. How can our government allow cars to be sold for what they cost today? And the grocers, making profits from the sale of food, so basic that without it we would all die of starvation!
Private industry protects the American consumer because of competition and innovation. There is incentive to hold down costs and realize a profit through the business enterprise. I would submit that in the day and age in which we live, our federal government by its performance in many areas has already demonstrated its inability and lack of incentive to operate efficiently like a business.
So it is with insurance, where ordinarily there are three parties, the caregiver, the insurer and the patient. The caregiver makes care decisions, hopefully within the scope of one's insurance which is the main payer. It's not a perfect system, but it is the finest in the world.
With national healthcare, the government would dictate both the plan and the cost of care. That translates into very few, if any, choices for consumers. Furthermore, care decisions made by a so-called "single payer" reveals a clear conflict of interest. The conflict simply stated is: Should we treat this patient or is it going to cost the plan too much money? And worst of all, the Federal government wants to decide what each person or family must pay for the coverage, whether the coverage be good or bad.
Already, health insurance has become much more expensive in recent years because of government mandates as to what must be covered. Many new features are beneficial and wonderful to include, but the cost of providing those medical benefits has to be added to the total cost of having the insurance, it's as simple as that.
As a nation, we are nearly bankrupt because of deficit spending year after year by our Congress. There is way too much governmental control now. Just say no to our clear path toward socialism. A good time to start is Nov. 2.
Rick Wagner
Pierceton, via e-mail[[In-content Ad]]
The health insurance industry ranked 35th among industries in the USA in 2009 in terms of profits as a percent of revenue, at 2 percent, according to Fortune magazine. Industries such as medical products, oil industry, pharmaceuticals, railroads, mining, household products and internet services all earned between 9 and 20 percent profit.
So why is it that the insurance industry is demonized? Because an inefficient Federal government would like to dictate both the health insurance costs and the benefits? If one was to pick on the big money makers, it would be those just listed and many others.
Look what cars cost. And all we need them for basically is to get to work and to bring some groceries home. How can our government allow cars to be sold for what they cost today? And the grocers, making profits from the sale of food, so basic that without it we would all die of starvation!
Private industry protects the American consumer because of competition and innovation. There is incentive to hold down costs and realize a profit through the business enterprise. I would submit that in the day and age in which we live, our federal government by its performance in many areas has already demonstrated its inability and lack of incentive to operate efficiently like a business.
So it is with insurance, where ordinarily there are three parties, the caregiver, the insurer and the patient. The caregiver makes care decisions, hopefully within the scope of one's insurance which is the main payer. It's not a perfect system, but it is the finest in the world.
With national healthcare, the government would dictate both the plan and the cost of care. That translates into very few, if any, choices for consumers. Furthermore, care decisions made by a so-called "single payer" reveals a clear conflict of interest. The conflict simply stated is: Should we treat this patient or is it going to cost the plan too much money? And worst of all, the Federal government wants to decide what each person or family must pay for the coverage, whether the coverage be good or bad.
Already, health insurance has become much more expensive in recent years because of government mandates as to what must be covered. Many new features are beneficial and wonderful to include, but the cost of providing those medical benefits has to be added to the total cost of having the insurance, it's as simple as that.
As a nation, we are nearly bankrupt because of deficit spending year after year by our Congress. There is way too much governmental control now. Just say no to our clear path toward socialism. A good time to start is Nov. 2.
Rick Wagner
Pierceton, via e-mail[[In-content Ad]]
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