The Congressional Budget Office estimates 32 million Americans will gain health insurance by 2019 if the law stands. For health insurers, that represents a potential boon for both their individual market business as well as in the Medicaid market, where states regularly contract with private insurers to manage care Politico via DeLong
I’m too busy at work today for anything independent – if I do that at all. Do I?
Health care reform (Affordable Care Act) is good for business, good for the foolhardy who think they don’t need insurance, and good for long-term cost reduction, because as the name demonstrates, it helps make private health insurance more affordable.
You’ll see the insurance industry begin to lobby Republicans, probably quietly considering how much they whined about this (covering children is unprofitable, covering pre-existing conditions is high risk, wah), to have at most a symbolic vote of repeal. They will definitely want the bill to be fully funded (Republicans have everything to gain from a symbolic vote. Please the Tea Party, stand up to Obama, but the money keeps going to the health insurance companies.) They know it won’t pass the veto. 32 million new customers! Also, there’s been positive movement in the number of small businesses this year signing up to insure their employees, because of the new health care law.
“We certainly did not expect to see this in this economy,” said Gary Claxton, who oversees an annual survey of employer health plans for the nonprofit Kaiser Family Foundation. “It’s surprising.” Seattle Times
This is a pretty good bill, that sloppily gets America going to where it should. I can’t think of one reason why this bill wasn’t worth enacting, though the PCIP part was probably not a good idea. Perhaps an update will follow later, after I figure out what the damned thing is. A single-payer system would probably have provided better coverage for cheaper, but that was DOA with how uninformed most Americans are about health care. Slightly irksome, but is it socialism to mandate you need health insurance or face a fine, and so private companies get 32 million more customers? Hmmm don’t think so. By that logic, if a municipality doesn’t have a public transportation route, the government forces you to buy a car. Same difference.