Send a Tweet
Most Popular Choices
Share on Facebook 16 Share on Twitter 4 Printer Friendly Page More Sharing
OpEdNews Op Eds    H2'ed 1/3/12

Rick Ungar: More Proof Big-Profit Insurers Doomed; Single Payer Coming Sooner Rather Than Later

By       (Page 1 of 1 pages)   7 comments
Message Daily Kos

crossposted from

by  james321

As many of you who follow health care issues are probably aware, Forbes Columnist Rick Ungar recently garnered national attention for his argument that the Affordable Care Act MLR rules will lead to the death of the for-profit, bloodsucking, health insurance industry sooner rather than later.

Well, today, he's back with some more evidence, and let's hope he's correct:

Yet, a report issued this week by, of all places, the conservative Galen Institute, reveals that you can't judge the long-term viability of an industry by its current share price. Indeed, the results of the Galen study highlight that the exodus of insurance companies from the health insurance business may be happening far more quickly than I imagined.

Among the many companies that are dropping out of the business --rather than comply with the MLR requirements that would force them to actually spend an appropriate share of the premium monies received from customers on real health care-- are some of the nation's largest carriers.

Principal Financial Group had already announced late last year that they were leaving the health insurance business, impacting on some 840,000 insured.

Another key player in the business, Cigna, has decided to quit the small business market in states like California, Connecticut, Florida, Georgia, Hawaii, Illinois, Kansas, Missouri, New Hampshire, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas and Virginia.

In Colorado and Michigan, insurance giant Aetna is bailing on both the small business and individual markets.

Wow, it seems like when insurance companies actually have to operate in an ethical manner and do what they say they want to do -- pay for care -- they get mighty upset that they want to "take their ball and go home." And, for good reason -- look at what Aetna predicts it will have to give back to consumers instead of its shareholders in the one percent:

Indeed, Aetna estimates that, as a result of failing to meet the MLR requirements in 2011, they will be forced to pay out 100 million dollars this year to its customers.

Given a future with fewer bloodsuckers -- or, perhaps, just a bloodsucker monopoly -- Ungar argues it's time to get started planning for the inevitable...non-profit, taxation-financed healthcare:

So, like it or not--as the growing exodus of insurers from the marketplace bears out--government, single-payer coverage is coming.

The only question is whether we will get out in front of the problem that will be created by private insurers bailing or wait, as we often do, for the system to collapse.

If you can manage to check your ideology at the door, the wisdom of getting started with the inevitable should be clear.

Let's help make sure our conservative friends don't miss a doctor's appointment when their beloved friends at Aetna and Cigna abandon them by doing what we all know needs to be done right now -- implementing a Medicare-for-all system.

Supported 2   News 1   Valuable 1  
Rate It | View Ratings

Daily Kos Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

articles reprinted from

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter
   (Opens new browser window)

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Just Read FBI Deputy Director McCabe's Statement Regarding His Firing By Trump... Just Read It.

Rush Limbaugh's Sponsor List

Comcast favors Fox News, charges $204 more for MSNBC package. ACTION NEEDED

A Christmas Present From Hucky Boo Boo Sanders, She's Leaving WH The End Of The Year

Ron Paul takes lead In Iowa, Newt Gingrich falls off cliff

Republican Bill Bans Non-Church Marriages

To View Comments or Join the Conversation:

Tell A Friend