Elections/Voting resources

[Phelonious Ponk]

First of all, states regulate insurance. In most states, you can only purchase health insurance from a small number of state regulated companies. One proposal to reduce insurance costs is to allow health insurers provide services across state lines -- like home and auto insurance! For example, in my home state of Washington, the insurance commision essentially allows only 4 companies to dominant >90% of the market. Why shouldn't I be able to purchase a policy from a lower cost provider in Indiana?

This is spin. The big carriers like BC/BS and United operate across the country. They are, however, incorporated in individual states and required to operate within the laws of those individual states. The movement to "allow" insurers to provide services "across state lines" is really nothing more than an attempt at eliminating states' regulation of the insurance industry. Ironically, the proponents of this idea cry out for state's rights on most other issues. It might result in some efficiencies that might reduce costs, or it might not. But it's not about the rights of small regional insurance providers to do business in the next state and it never has been.

Tim

 

[Gregadd]

Poltics. I received a call on election night stating there was no need to vote because President O'Bama had achieved his goals in Maryland. Five minutes later I got a call saying that call was false.

 

[amirm]

Yup Politics. We had a measure on the ballot to take labor liability insurances out of the hands of the state and let insurance companies bid against it (right now, businesses pay the state to do that). The measure got defeated.

Last night, the labor and industries division of the state government announces that rates are going up 12%: http://www.lni.wa.gov/news/2010/pr101108a.asp

Here is the kicker. They announce their increases in September, not November. Of course, the conveniently waited until the voting was over. Asked on the news last night why, they said, they "didn't want to confuse business owners" should the system change! As I noted earlier, they really think we don't have a brain to see through all of this. L&I was running non-stop radio ads about how good they are prior to the elections. I don't want my tax dollars to go to radio ads. Running a small business is hard enough to not have to deal with stuff like this.

 

[Gregadd]

In further proof about shrinking opportunities for a growing number of players, I just heard that hedge funds are investing in medical malpractice suits. Yikes

 

[Steve williams]

In further proof about shrinking opportunities for a growing number of players, I just heard that hedge funds are investing in medical malpractice suits. Yikes

That is too funny. If in fact that is true Greg, all I can say is thank heaven I am retired and escaped without one suit

 

[jazdoc]

That is too funny. If in fact that is true Greg, all I can say is thank heaven I am retired and escaped without one suit

I can't find this even remotely funny. The idea that capital is being allocated to invest in the medicolegal lottery instead of businesses that provide services or actually (heaven forbid) make things is a sad insight into how far off the rails we've gone.

 

[Steve williams]

I agree but that is why I said I'm retired. In this economy who knows what we will hear of next. Nonetheless, knowing Greg, my bet he is talking tongue in cheek.

 

[Gregadd]

That is too funny. If in fact that is true Greg, all I can say is thank heaven I am retired and escaped without one suit

I know it's true in part. the question is how wide spread it is. it's unethical for a lawyer to have a financial interest in the outcome of the suit. The hedge funds must be buying the plaintiffs interest in the suit. Remember. investors were buying life insurance policies from terminally ill patients. They got mad because the patients were living longer than expect

 

[Steve williams]

Remember. investors were buying life insurance policies from terminally ill patients. They got mad because the patients were living longer than expect

That's because of all the great medical care they received from their docs

 

[Phelonious Ponk]

That's because of all the great medical care they received from their docs

I'll heartily agree with that one, Steve. My father, who will be 93 this week, spent last winter in hospital and rehab. It's a long story, but let it suffice to say that, as his only surviving child, I became really familiar with the healthcare system. The care was professional, caring, and excellent, from the surgeons to the aids. The administrators and insurance providers, however, are another story.

Tim