25 March 2009

Health Insurance and Big Bucks

The health insurance industry has agreed to more regulation, and in particular to stop refusing insurance to, or requiring much higher premiums for, people with "pre-existing conditions." These can be anything from diabetes, asthma or heart disease ... to pregnancy.

The New York Times quotes various lawmakers saying approving things about this shift. What the insurance companies are trying to avoid is the creation of any kind of health plan run by the government.

The problem with a national health plan: it would insure people without somebody making a buck. And it would, finally, clearly expose how much profit goes into the business of health coverage.

It's one thing to make a profit by insuring someone else for property loss. It's entirely another to make a profit by insuring health coverage.

It's just wrong.