I knew this is where it would end up: a huge subsidy for the health insurance industry. Now they will have a guaranteed income for eternity.
“This legislation is landmark legislation, and a defining moment for our country,” said House Energy and Commerce Chairman Henry A. Waxman (D-Calif.). “We are going to accomplish what many people have felt wouldn’t come in our lifetime.”
Right–they will make the health insurance companies permanent subsidiaries of the federal government, sucking in tax money for the benefit of the top executives, just like with the Federal Reserve banks, the investment banks, and the auto companies.
The new health system envisioned by House leaders would require individuals to carry insurance and force businesses to help pay for it. It also would take an aggressive stance toward the insurance industry, prohibiting “discriminatory practices” such as refusing to sell policies to individuals who are already sick or excluding certain treatments from coverage.
It’s a wonderful fake “private industry” solution that uses the authority of the federal government to pick your pockets in order to pay lifetime bonuses and pensions to insurance executives. It may prohibit some “discriminatory practices,” meaning that they will have to actually pay claims that they are contractually bound to pay. But there is no guarantee that they won’t simply tap into their new endless revenue stream to recover costs, since everyone will be required to buy their “service.”