This is part of my upcoming readings list but I thought the issue merited a separate post. From today’s WSJ, a post was written about the foreseeable death of private health insurance. Among many things, health insurance is something that must not be left in the hands of the government. The recent proposal of a “public option” to keep their private health insurance simply masks the inevitable.
This public option will supposedly “compete” with private alternatives. As President Obama likes to put it, those who are happy with the insurance they have now can keep it — and if they happen to prefer the government offering, well, gee whiz, that’s the free market at work. The reality is far different. Not only will the new program become the default coverage for the uninsured, but Democrats intend to game the system to precipitate — or if need be, coerce — an exodus to government from private insurance. Soon enough, that will be the only “option” left.
The simply reason for the privatization of health care is this: the more parties competing for the public’s health care, the more costs are brought down. Fifty years from now, the US would still be facing the same rising costs in health care – the rich taxed higher in order to pay for them and while more will have health insurance, the Congress would still be debating about the better fix for the system. So much for solving the health care problem.