Health Insurance Industry Leader Urges Regulation Over Government-Run Plan

[babylonsister]

Insurance Industry Leader Urges Regulation Over Government-Run Plan
By Drew Armstrong, CQ Staff


The health insurance industry has started making the hard sell on Congress’ plans for an overhaul of the health care industry, but not in the way many expected. Rather, the frontwoman for private insurance companies is asking for more regulation, not less.

“We have to have a complete overhaul of the rules,” Karen Ignagni, president and CEO of America’s Health Insurance Plans (AHIP), told the Senate Finance Committee Tuesday.

“I know you guys are skeptical,” Ignagni told reporters after the hearing. “This is truly what it is. It is a transparent call for a full-scale renovation and a complete overhaul of the existing regulatory mechanisms.”

Ignagni has previously proposed guaranteeing that people who want to buy insurance can get it, and no longer charging higher or lower rates depending on health status — a change from current industry practices. In return, the industry has asked for a government mandate that people buy insurance. On Tuesday, she also urged a comprehensive overhaul of federal regulation that would govern insurance markets nationwide and replace parts of the patchwork of existing state regulation, all as part of a broader overhaul of the health care system.

Part of the reasoning behind the industry’s push for regulation may be that, with the momentum Democrats have built for a health care overhaul, private health insurers face two choices: change the way they do business, or face competition from a government-run insurance plan that many say would eventually run them out of business.

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http://www.cqpolitics.com/wmspage.cfm?docID=news-000003110505&parm1=5

[madmom]

1. "a government mandate that people buy insurance" that's the kind of regulation we DON'T need.

[BanzaiBonnie]

2. I don't trust the insurance companies

Never will.


They have lied time and time again.

I don't believe we can ever make enough regulations to cut out the greed factor. They will always find a way to get around the regulations.

They need to realize their time has come. There is a life cycle to any business. When any institution or organization becomes too large, it dies. If it will not change itself completely, it will die.

[valerief]

3. Go talk to Wall St., baby. nt

[Ikonoklast]

4. "Help! Save us from ourselves!"

Eff them. They've screwed over so many for so long, and now harsh reality is boring in on them.

Single-payer for all.