"It's class warfare and my class is winning." Warren Buffett

The value of any commodity, ... to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchase or command. Labour, therefore, is the real measure of the exchangeable value of all commodities. (Adam Smith, Wealth of Nations Book 1, chapter V.)

The question we ask today is not whether our government is too big or too small, but whether it works....(Barack Obama)


Wednesday, June 18, 2008

Health Care Companies Fear an Obama Presidency

If you ever were tempted to doubt that the private health care industry does not want to insure everyone even if individuals are responsible for insuring themselves, then read this declaration by EHealth:
[C]ertain candidates for the 2008 presidential election have espoused as part of their overall campaign platform variations of a universal healthcare system that would require substantial number of individuals to purchase or otherwise obtain health insurance for themselves and/or their children. We cannot be certain of the impact of any new legislation at the state or federal level, but it could harm our business, operating results and financial condition.
The free market could and would cover everyone if it had its druthers? That has always has been a myth promulgated in order not to change the status quo and create the illusion that free markets are able to handle health care coverage shortages.

The fear that private health care companies have about Barack Obama’s plan, which differs from significantly from John McCain’s non-plan, is that it could stir Congress to "implement changes in laws and regulations governing healthcare service providers, including measures to control costs or reductions in reimbursement levels, which may have an adverse impact on our business." Indeed, controlling costs, even if by legislative fiat, will have to be a part of real health care reform.

I continue to support universal, single-payer health care. My hope is that Barack Obama will have a "revelation" and call for that when he becomes President. I suspect that is the real concern private health care companies have about Obama. It's part of how I spell "hope" when I think of the prospects of an Obama Presidency.
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