"The Goldman Sachs analysis shows that while insurers can be aggressive in raising prices, they also walk away from clients because competition in the industry is so weak, the White House said. And officials will point to a finding that rate increases ran as high as 50 percent, with most in 'the low- to mid-teens' -- far higher than overall inflation.
The analysis could be a powerful weapon for the White House because it offers evidence that an overhaul of the health care system is needed not only to help cover the millions of uninsured but to prevent soaring health care expenses from undermining the coverage that the majority of Americans already have through employers.
Benen added:
As a friend of mine noted the other day, 'Those who oppose health care reform because they like their coverage have it backwards.'"This has always been my main argument. Most people seem to think that their insurance is better than it actually is. Every indicator I see has rates climbing dramatically with no end in site, and if they can do that and even lose customers and still make money--why would they do anything different?
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