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User Info A One-Sentence Bill To Force The Health-Care Issue; entered at 2017-06-24 10:12:44
Tickerguy
Posts: 150417
Registered: 2007-06-26
Yes, they should, but here's the rub -- today, they don't.

Not only don't they but insured people often pay FAR MORE than Medicare patients do.

When it comes to physical commodities that's not legal if it has a substantial impact on competition, and forcing tied sales via extortion is one of the things prohibited under anti-trust law.

This ends that instantly.

It will immediately force "health insurance" companies to offer actual policies that have actual value in them for the people who buy, since the extortion element will INSTANTLY disappear.

A person who can choose to NOT buy insurance and simply pay the Medicare reimbursement out of pocket has just capped what an insurance company can steal from you. They CAN'T "negotiate" a price OVER Medicare's and then lard it up with 20% G&A costs PLUS their 10% operating profit (as allowed by regulators) since nobody will buy that product!

This one-sentence law will NOT fix the larded up system by itself, but it WILL bring instant price transparency, since the Medicare reimbursement codebook is NOT proprietary, and thus you now have a point of negotiation as a consumer.

It also brings, to a large degree, the medical system (as it relates to GOODS anyway) within the boundaries of Robinson-Patman -- which says that buyers of LIKE KIND AND QUANTITY cannot be discriminated against where market power exists -- that is, where the effect is to substantially lessen competition.
2017-06-24 10:12:44