UNDERNEWS

Undernews is the online report of the Progressive Review, edited by Sam Smith, who covered Washington during all or part of one quarter of America's presidencies and edited alternative journals since 1964. The Review, which has been on the web since 1995, is now published from Freeport, Maine. See main page for full contents

September 29, 2009

THE HEALTH INSURANCE RACKET: ONLY MAJOR LEAGUE BASEBALL OWNERS HAVE IT SO GOOD

Dylan Ratigan, Huffington Post - Why is health insurance the only business that has an exemption from the Sherman Anti-Trust Act other than Major League Baseball? . . .

Through the governmental negligence that we as voters allowed, a health care system was created in which a single health care company controls at least 30 percent of the insurance market in 95% of the country, including states like the following:

Maine, where Wellpoint controls 71% of the market.

North Dakota, where Blue Cross controls 90% of the market.

Arkansas, where Blue Cross Blue Shield controls 75% of the market.

Alabama, where Blue Cross Blue Shield controls 83% of the market.

This monopoly, combined with the misaligned incentives that trap people in employer-based health care, is causing the skyrocketing health care costs that are hurtling our nation towards bankruptcy.

I don't know what's worse: that most Republicans seem to be against ending this unfair legal protection for an entrenched industry that is ruining our country with their non-competitive practices, or that most Democrats seem to be threatening this arrangement only as a bargaining chip to push for a meaningless public option that wouldn't be accessible to almost 85% of the population?

Instead of improving our country, through creating and enforcing free and fair markets, our politicians are currently engaging in backroom deals, most of which protect the very companies who profit the most from these disastrous outdated systems -- industries like health insurance and big Pharma.

1 Comments:

Anonymous Anonymous said...

Not so. Internet service is similarly monopolised. Try to get a simple DSL account from someone other than Verizon in Massachusetts. Your choices for DSL are Verizon and Comcast (who don't offer a simple DSL account).

It's very cozy.

September 29, 2009 6:55 PM  

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