Obama administration reportedly makes stunning obamacare admission for the very first

[knkali]

It is funny how we hold the gov in contempt for so much, but the gov has been in with ins companies for a long time. ACA is not the first time. The Feds made requirements of ins companies to have X amount of cash available and had to insure its policies with other insurance cos so the consumer is protected should a mass disaster happen and the losses so high insurance cos might not be able to make good on their policies. So the Feds did something right. No?

Perhaps the health insurance industry felt that OB was so set on having a single party payer plan in the U.S that this compromise with the gov was the last ditch effort to remain an industry. Hence ACA

[chrish]

No, you are right, that is a good thing. Government operating within the confines of protecting people from predatory practices, or just making sure business like insurance companies make themselves financially stable enough to deal with situations like that...all good. Just like having safety standards for this product or that product. To a point of course. But that, in my opinion, is where government belongs. But all because a few government Democrats claim predatory pricing by insurance companies doesn't make it so. States have been regulating that, checking that, keeping a watch on that, for decades. The feds are as is all-to-often typical for them, solving a problem that didn't really exist.

[muggsy]

It's not up to the government to determine how much profit is a fair profit. Destroy the profit motive and you destroy the business. People will only pay what they think a product is worth. That's what's known as free capitalism and it has served us well. We live in the greatest country on the face of the earth and our people enjoy the highest standard of living in the world.

[knkali]

It's not up to the government to determine how much profit is a fair profit. Destroy the profit motive and you destroy the business. People will only pay what they think a product is worth. That's what's known as free capitalism and it has served us well. We live in the greatest country on the face of the earth and our people enjoy the highest standard of living in the world.

point well made. While the gov gets involved to make sure ins companies are liquid enough and insured themselves to meet the demand of substantial losses, the cost of those requirements are passed on to the consumer; however, telling for profit businesses what the profit margin should be is never a good thing. So we want the gov involved but not too much. The catch is how much is too much. Many would feel that the gov has the right to prevent "robber baron" business practices, but they fail to realize the concept of free market competition automatically protects the consumer. As long as businesses cannot buy politicians and subsequently protection from competition we are safe. We all know that is not reality though.

[chrish]

It's not up to the government to determine how much profit is a fair profit.

+1 ... Amazing how simple life can be ain't it? More amazing how complicated people try and make it.