Obamascare
Health insurance rates are taking off under Obamacare, especially if you now carry a high deductible plan. Kathleen Sebelius agrees.
“Some of these folks have very high catastrophic plans that don’t pay for anything unless you get hit by a bus,” she said. “They’re really mortgage protection, not health insurance.”
Megan McCardle at the Daily Beast thinks Sebelius is confused about what insurance is.
Sebelius’ response is apparently that catastrophic insurance isn’t really insurance at all–which is exactly backwards. Catastrophic coverage is “true insurance”. Coverage of routine, predictable services is not insurance at all; it’s a spectacularly inefficient prepayment plan.
“This is not insurance anymore. This is regulation, this is government dictated rates, like the electrical company…”
“This is regulation, this is government dictated rates, like the electrical company…” These are not the same at all! Utility rate making, although overseen by a government entity, are set by a rate filing complete with projections, actual results and a transparent process that includes a multitude of parties with standing. Obamacare is a government edict devoid of anything like a utility rate proceeding. The utility rate proceeding looks particularly civil and sensible when compared to the pricing of Obamacare! We’re screwed and won’t have any health insurance to repair our violated anus, but that’s ok as we will be able to marry! What next?????