Annals of "free market" stupidity
Here's the California Medical Association's take on Anthem's 30% rate hike and its lawlessness:
The long list of state violations by Anthem Blue Cross, California's largest for-profit insurer, underscores the need for market reforms to hold insurers accountable so patients get the care they deserve when they need it, the California Medical Association said today.
Steve Poizner, California's insurance commissioner, announced that Anthem Blue Cross violated state regulations on more than 700 occasions between 2006 and 2009 for late payments of claims, giving misleading information to consumers and failing to cooperate with regulators, among other misconduct.
"These violations show a pattern of insurance companies putting profits before patients," said Brennan Cassidy, MD, CMA president. "These violations, combined with the huge proposed rate hikes, make the case yet again that we must reform the insurance market so that its top priority is to serve patients instead of its bottom line."
Brennan Cassidy, MD, can't seem to spot a flaw in his argument. What could it be?
Blue Cross is a for-profit company! It's supposed to put profits before patients! That's what it's supposed to be doing! That is the fiduciary responsibility that Blue Cross has to its shareholders.
The answer isn't to try to make Blue Cross into something it isn't and can't be, but to abolish the insurance companies entirely!
NOTE We really do need to have a post on the "1/6 of the economy" talking point, as CD justly points out. To me, the proof by example is the other countries who have implemented single payer systems, none of whom collapsed, but that's not really a strong enough argument; no detail.