Tag Archives: regulation

Health Plan Providers Are Concerned

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These providers, which surprisingly The Wall Street Journal misapprehends as insurers, are bracing for a drop in enrollment in the ongoing health plan provision program “turmoil.”  There’s this key passage in the article at the link:

[M]any firms say they expect to lose consumers who will bear the full brunt of the rate increases—those who aren’t eligible for the health law’s premium subsidies, which help enrollees with annual incomes of less than around $48,000.

Yet it’s the “health law” that exploded health plan costs—premiums and deductibles, especially—by mandating coverage for things citizens don’t need or don’t want and by mandating that many of those coverages be provided at no cost to the plan purchaser.  This has led to a burial of many of those costs into the charges made rather than listing them openly as separate line items on the charge sheet and a parallel creation of the claimed need for the subsidies.

Those costs put a premium on getting rid of Obamacare and replacing it with a private economy program of market oriented, actual health insurance policies sold by private companies not fettered by Federal government diktats.

That, in turn, requires three self-important Republican Senators to get with the program.  Senators John McCain (AZ), Lisa Murkowski (AK), and Susan Collins (ME), especially, need to hear about our dismay with their reticence—and on a national scale.  These worthies are responsible to their State constituencies, to be sure, but the US Senate is a national body; these Senators also have a national constituency to whom they’re responsible, for all that the rest of us don’t vote for them.

Laziness

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Citigroup, Deutsche Bank, and HSBC, banks allegedly involved in rigging the erstwhile international debt interest rate benchmark LIBOR, are going to pay $132 million in aggregate to “settle” a court case over that alleged involvement.

The proposed settlements…include no admission of wrongdoing.

The banks are paying the money for—as the plaintiffs plainly agree by their own acceptance of the settlement—not doing anything.

This is a bad deal. If the banks didn’t do anything wrong, for what are they paying? If they deserve fines, why aren’t they being kept in court for an on-the-record public recitation of their wrongdoing and punishment?

Sounds like indulgences, to me.

Must Be Dead Broke Again

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The money’s already spent, and the Clinton Foundation has no other money to send back to Harvey Weinstein.

That’s the excuse that the Clinton Foundation is using (I’m deliberately eliding Hillary Clinton’s fatuous excuse for not returning Weinstein’s donations to her campaign—”there’s no one to return the money to”) for refusing to return Weinstein’s donation of somewhere between $100,000 to $250,000 to the Foundation.

The money’s gone.  And since money is eminently fungible, as all of the management of the Clinton Foundation—Chairman Bill Clinton, Vice Chairman Chelsea Clinton, Chief Communications and Marketing Officer Craig Minassian, et al.—all know full well, by implication the Foundation has no other money with which to make the returns.

Apparently, the Clintons, are dead broke again, and now their Foundation is, too.

Health Plan Coverage and Contraception

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The Wall Street Journal has noted that the Trump administration has taken regulatory action to reduce, if not eliminate (the Supreme Court still has to do its job vis-à-vis a Little Sisters of the Poor case, as does Congress legislatively, contra a short handful of Republicans who prefer Obamacare intact over any step toward getting rid of it), the requirement that health plan providers provide contraception to women at no cost to those women coverees and do so regardless of any question of conscience or religious tenet.

Naturally, Progressive-Democrats and the Left generally have their collective panties in a wedgie over that.  However, they carefully ignore certain inconvenient facts.

One inconvenience is the actual cost of contraception—to the user, not the rest of us who must pay for these “free” items.  Contraceptive pills can be had at places like Walmart for $9/mo, vaginal contraceptives are cheaper, condoms (don’t men have a role here, too?) are $6.50 the dozen.  These are not prices that will shatter anyone’s piggy bank.

Contraceptives are used to treat medical conditions, and they can be terribly expensive?  That’s the other inconvenience.  No they aren’t; those aren’t contraceptives.  They’re medications used for treating a medical condition; they happen to have a (if not the) major side effect of being anti-conceiving.  Insurance plans already covered such meds, and Obamacare could have, too, but the Progressive-Democratic Party eschewed that when they rammed through Obamacare.

In the end, there’s no reason anyone should pay for contraceptives other than the users.  Full stop.

Two Health Insurance Markets?

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The Wall Street Journal has misunderstood the situation and the proposal [emphasis added].

President Donald Trump’s executive order on health insurance, the most significant step so far to put his stamp on health policy, is designed to give more options to healthy consumers. It also could divide the insurance market in two.

What Trump is purportedly going to do with his Executive Order is

  • instruct[] federal agencies to loosen rules on health plans that the administration says have driven up premiums and reduced insurance offerings
  • direct the Health and Human Services, Labor, and Treasury Departments to lay the groundwork for the growth of association health plans, coverage that would have fewer mandated benefits than many current plans available to small employers and individuals [and] that wouldn’t be subject to the full range of ACA requirements, such as the mandated package of benefits.
  • departments, in addition, will be told to take steps to expand the availability of short-term medical plans …  allow people to once again buy plans in that category that could last for almost a year.

However, rather than create two health insurance markets, these actions would do no more than begin to create one health insurance market.  There is no extant health insurance market; there is nothing present to become part of “two markets.”  What we have presently is neither insurance nor a market for it.  What we have is a health coverage welfare program that has some (very poor) options from which we’re required to select one for ourselves.

The beginnings of a health insurance market, in addition to being an actual market for health insurance, would, though, lessen the importance of the mandated welfare program—to the benefit of all of us, including those trapped in that welfare program.