posted on Oct, 24 2013 @ 06:55 AM
reply to post by FlyersFan
I think I remember quite a few pundits who will be saying " I told you so".
I can't really blame the people who really hoped that this would be the knight in shining armor to save them from their lack of insurance nightmares,
but anyone who has ever balanced a budget could have seen it was going to be a financial nightmare.
A point I think some have trouble grasping is, Insurance companies are out to make a profit.
They are not benevolent organizations there to assist you, they are there to garner the top dollar they can with the least risk to themselves. So, if
you are a high risk client, they charge you more. With that playing card removed from the deck, the playing field being leveled and such, the "great
rates" of the past are gone. They will look at their financial risk, work their profit margins in, divide it by the client pool and, Voila, there
are your rates. 50 to 400% or more higher that what you paid before.
Now, some will see lower prices, because they actually get subsidies, and some will qualify for assistance they never did before. But EVERYONE ELSE
will share in the cost.
THE INSURANCE COMPANIES WILL NOT LOSE THEIR PROFIT. And there in lies the rub.
The edict which declares all must have insurance, or be penalized, truly opened the hen house to the foxes (my apologies for the analogy to the
Insurance companies of the country, couldn't think of a better one). They will see record profits, because the 30 million uninsured, even if all
covered, will be more than amply accounted for with the increased rates of those effected in the other 340 odd million rest of the population. It is
all in the percentages.