Re: “Rule requires insurers to explain large premium increase,” Modern Healthcare.com, May 19: The reason that health insurance companies are raising their rates despite record profits is because they realize what the U.S. government is going to do to healthcare over the course of the next five years. With increasing oversight and micromanagement of the healthcare industry, the government will make sure the profits are going mainly to itself.
Look at the government’s plans for the Stark law as it pertains to the Patient Protection and Affordable Care Act. The government is literally planning to make it possible for accountable care organizations and hospital systems to gain complete control over physicians.
Soon there won’t be enough physicians practicing because we won’t take all the reimbursement cuts and be expected to comply with all of the new bureaucratic tools to measure quality, which consume one-third of our day now. Practicing medicine is becoming a full-time administrative beating.
The insurance industry is going to gouge the American public for the next several years because of, once again, the government overstepping its bounds and trying to control the affairs of private citizens and the free market. Insurance companies are saying, “We better make as much as we can right now because we have about two years before President Barack Obama tries to tell us what we can make just as he is doing to physicians right now.” We are in huge trouble.
The insurance industry is now going to be slapped around by Uncle Sam and in the end, when the government has become the primary insurer, they will try to do the same thing that insurance companies are doing currently. What a mess!