Posted: 01/18/17 11:47
by Dave Mindeman
Did you know that America has a "regulatory disease"? Jason Lewis has diagnosed that for us and wrote about it in the Strib.
I did not realize there was such a disease. I guess Lewis has some new kind of expertise that is beyond our ability to understand. So I guess what he is saying is that our problems do not stem from corporate actions but rather our government's attempt to regulate them.
Lewis is telling us that the financial industry doesn't need those pesky limits. That the pharmaceutical industry can do much better regulating itself. That the collapse of the economy in 2008 was not due to the misdeeds of the industry, but apparently because we do not give them have enough rope.
Lewis especially believes that the ACA is a big culprit:
Because the law mandated the most expensive coverage for everyone, many people -- especially the young -- have been priced out of the market. Right here in Minnesota, we've seen the system collapse under MNsure with back-to-back individual premium increases of well more than 50 percent in the last two years! Moreover, tens of thousands won't be choosing a plan, but getting shoved into a default option.
The law mandated ACTUAL coverage for everyone. Yes, providing real coverage is more expensive and the insurance fallout from that has led to a difficult transition, but we saw what happens when insurance companies are left to their own devices....dumping people with pre-existing conditions, caps on lifetime benefits, moving to more catastrophic coverage which pays nothing for day to day medical expenses. That is what Lewis is suggesting we go back to....because without those mandates we will go back to coverage at the lowest level and highest profit margin for insurers.
Here in Minnesota, the individual market needs to be adjusted, but wholesale collapse? No. Lewis likes to use extreme language, but being honest about it escapes him.
As for getting shoved into a default option, that is exactly what was happening before the ACA. People were dumped into a coverage system that didn't pay for prescription drugs. That had enormously high deductibles and only covered the most catastrophic conditions.
In addition, Lewis is signing on to this repeal now, replace much later plan that the House Republicans are pushing. A plan that leaves all of us in uncertainty and with questionable coverages.
Lewis sides with the insurance companies. He wants to make things easier for them. Those pesky regulations need to go. Let corporations make their own rules and put consumers at the mercy of profits.
Jason Lewis is not on our side. That is the simple truth of the matter.