25 Feb 2010 Report Concludes President Obama’s Health Proposal Would Lead to Public Option
President Obama’s new health care plan will all but guarantee the elimination of private insurance and lead to a single payer government-run health care system, says a new report, “White House Health Care Plan Contains Back Door to a Public Option” by policy analyst Matt Patterson of the National Center For Public Policy Research.
Among the findings:
* The President’s plan would create a new federal agency charged with monitoring health insurers to make sure that proposed premium increases are not “unreasonable” or “unjustified.” This agency could compel private insurers to lower premiums, offer rebates or “take other actions to make premiums affordable.”
* The President’s plan would also dictate that health insurers cover those with pre-existing conditions and saddle them with billion in new taxes and fees.
* Health insurance is one of the least profitable industries America. In terms of profit margin, in 2009 it ranked a dismal 87th out of 215 industries; their overall profit margin was a mere 3.4 percent.
* The President’s proposed combination of new taxes and price controls would cause a wave of health insurer bankruptcies, devastating the industry and reducing health insurance options for consumers.
* Eventually, the shrinking pool of private insurers would force the government to enact a single payer system to provide the insurance that Congress mandates that all Americans have.
Patterson calls Obama’s ploy “breathtakingly audacious,” noting, “Far from being able to keep the plan you like, the President’s health care plan seems designed to make sure you end up with only one option for your health care – the government.”
“White House Health Care Plan Contains Back Door to a Public Option,” by Matt Patterson is available on the National Center For Public Policy Research website at http://www.nationalcenter.org/NPA603.html.
The National Center For Public Policy Research is a conservative, Constitution-respecting, free-market non-profit think-tank established in 1982. It is supported by the voluntary gifts of over 100,000 individual recent supporters, and receives less than one percent of its revenue from corporate sources.