What should insurance companies do to deal with the possible implementation of Obamas healthcare proposal?

Question

I want to know what is going to change in the market and what companies should anticipate with the new program that will be implemented in 2010.

Answer 1

Insurance Companies are in the business of insuring people.  IMO, it's ABOUT TIME they're forced to figure out a way to do it.  Up until now, they've only extended coverage to people who are healthy and don't NEED insurance.  

They'll just need to learn to manage their money more effectively, without slashing what they cover.  Time to give up some of those record profits, and pass the benefit on to those who need medical coverage- isn't that what they're SUPPOSED to do?

To me, making money at the cost of peoples' well-being is shameful.

Answer 2

Just because Obama proposes during a campaign, that doesn't mean it will necessarily happen.

Answer 3

Nothing.  

What Obaba is doing, is called "pandering".  I haven't heard any specifics, but NONE of the politicians have any clue  how to make a system work like that.  

Heck, the currently run government health insurance program - Medicare - is getting ready to implode, as an additional 77,000,000 people stop paying in, and start getting coverage over the next ten years.  Nobody with any brains, will run the numbers, look at the currently run system and say, "oh, we want  more of THAT!"

**A few comments for Scott.  Right now, insurance companies pay out $.99 in claims, for every $1 they take in.  What kind of business can stay in business, running at a loss?   Might as well demand that lottery sales can happen AFTER the drawing, so everyone can win!  Why buy insurance, if you can get stuff covered AFTER the loss happens?  Look this term up on wikipedia:   adverse selection.  Sheesh.  The real world doesn't work that way.  And I'm sure Scott doesn't want to buy stock in a company, that is bleeding money.**

Answer 4

great going scott c

thumbs up on that 1

Answer 5

"To me, making money at the cost of peoples' well-being is shameful."

So a restaurant that feeds you, the pest control guy that keeps rats out of your home, the bank that gives you interest for financial well-being, your hairdresser that keeps you groomed, etc....should all do it for free?  Who exactly is going to pay their mortgage and for all of the services they require?

Had to comment on that statement.  Yes, campaingn promises and reality are different.  They just make promises so they can spend your money.