Will a $5000 tax cut for health insurance with no regulation on what a company can charge lead to insurance?
Topic: Insurance company business plans
June 20, 2019 / By Kelcey Question:
being any cheaper? Since McCain wants to have the insurance companies charge what the market will bare and insurance companies know that people have extra money only if they spend it on insurance. I am just saying it seems like they can just increase what they charge. It does not cost the buyer any more to pay 5 grand more.
Best Answers: Will a $5000 tax cut for health insurance with no regulation on what a company can charge lead to insurance?
Ireland | 1 day ago
McCains plan also takes away the Tax Credit a Business gets for paying part of an employees coverage.
So what will happen, is Businesses will no longer offer Health Insurance leaving the American worker to get their own insurance.
Insurance "MIGHT" become cheaper for single people under the age of 25 but for families or for older workers (like me who has had bypass surgery) My insurance will cost about $10,000 more a year (If I can get Complete insurance)
It would be a disaster for 80 to 95% of Americans,
👍 170 | 👎 1
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The regulation is the problem in one part but needed somewhere else. For example let any company sell health insurance (free market) but make sure they are a well run organization who makes good on the claims it receives (government oversight).
Another problem is law suits insurance companies have to pay.
Another problem is the regulation on who can sell us drugs which is why Canadian drugs are so popular.
Another problem is lobbyest who pay the FDA to ban certain drugs and push other drug through to the US market place.
It doesn't matter who get 5k or not. Unless the entire process is protected from the money that influences the whole thing. It is the politics of the US that causes most of the problems.
We need a real choice for insurance first, then the insurance companies would have to be relieved from paying for frivolous law suits and there was real competition when their customers wanted to buy drugs the health care costs would be so much lower.
The problem I have is when you give things all the way to the government you don't have a choice. The good doctors will leave the industry because of government regulation and lowered wages and the drugs might not be as good either.
True competition is the only way to be if you want the best for you and family.
Think of the difference between China and the US in the 80s. We were the best because we had the freedom and China didn't. China is only growing now because we are exporting and outsourcing funds to them. They produce because it is too expensive to produce here. Lower the taxes on companies and they might be able to afford to make something in this country. Now that is a different conversation but I think you have some things to consider, huh?
👍 70 | 👎 -1
I don't know about the health care industry, but over here in the construction industry any taxes, hike in the price of materials and fuel or excessive costs due to regulations are always passed on to the consumer and yes of course we, like all other businesses usually charge whatever the market will stand. That's called free enterprise pal.
👍 70 | 👎 -3
Do you think that the insurance companies can't already charge whatever they want? They already do! It's what the market will pay.
👍 70 | 👎 -5
let's see, it already cost an arm, a leg, and a finger nail to see a doctor, that doesn't even begin to cover the test. Don't ya love the lies, and proaganda?
👍 70 | 👎 -7
Originally Answered: New employer Health insurance is Self funded and they a small company?
That surprises me, because in able to BE self insured, legally, for employee benefits, they have to file financials and prove to the state insurance department that they have the resources to pay the claims. They're STILL regulated.
But, they can stop offering that health coverage, AT ANY TIME. So sure, you need to be worried - heck, they might go out of business owing you for two months salary. But there's nothing you can do about it, besides looking for another job.
Yes. Keep your private coverage.