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Obamacare, Government and You!

| Opinion | March 17, 2017

by Jim Lentini
As we see the turmoil of Congress trying to deal with Obamacare problems and enforcing the promises of President Trump to address the problems created by Obamacare, our economy, and weakness of global issues, the increasing costs of healthcare are at the forefront for the taxpayers who are paying for all these mistakes!

Remember before we had the Affordable Care Act our medical industry had been governed by our federal and state governments for 100 years! The health insurance industry had to have a loss ratio of 80 percent or greater before applying to the state insurance commissioner to raise rates for a block of business. And, by federal mandate, out of the 20 percent gross profit to operate allowed, must have had a net profit of 3-5 percent to stay viable to pay future claims. It worked and the reasons cost increased was because of increased medical costs of equipment, drugs, and of course, fraud of benefits.

If you or the government had contacted the “experts” in the field of medicine, insurance agents/brokers, and industry they would have advised the government to address the three areas below to correct the rising costs:

Fraud: It is a known fact that fraud is a major problem and adds to the cost of health care. If the government prosecuted this problem, it would greatly reduce the cost of healthcare.

Pharmaceutical: Another known fact is the rising cost of drugs, as it was last calculated as over 40 percent of healthcare costs. When drug companies spend 15, 20, 25 million developing a new drug, if the government gives them credit for development, the Rx would not have to be passed on to the patient.

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Medical Malpractice: Another factor is that doctors and all medical providers must pay an exorbitant amount for their E & O insurance. If the government keeps them accountable but provides a more reasonable insurance plan, this will greatly reduce the cost to the patient.

If those in the Obama Administration and Congress had addressed these three basic problems instead of bureaucratic, self-serving decisions, it would have provided better control and cost saving to insureds and taxpayers. This would have cost taxpayers much less than the billions spent for a self-destructive plan that reduces the quality and benefits of healthcare and increases costs that will greatly affect our economy. But then, it will go down in history “we had to pass it to find out what’s in it,” and those who “want to keep their coverage can do it,” etc. Remember, those who passed the law exempted themselves from it and kept the “Cadillac” plan we the taxpayers pay for! Who works for whom??

May the Lord protect us and guide the current administration in correcting the rights established by your forefathers and what our veterans fight and defend our freedoms for! Protect us from the enemy within!

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