Will an insurance mandate + gov't subsidies = huge profits for private insurance?

[dorkulon]

I have a sinking feeling that what were going to wind up with will be much like Bush's Prescription Drug Benefit plan. In other words, instead of a public option, those who can't afford insurance will be provided private insurance, with the gov't picking up the tab. The insurance companies will surely love this plan, because it just means more clients and more money for them. But in the end the cost will be higher than it is now, and will only contribute to more gov't debt.

Am I wrong?

[MichiganVote]

1. Unless they have their taxes raised in place of us, yes, they will triple profits.

[cbdo2007]

2. It doesn't matter...even with a Public Option the insurance companies will manage it,

so all the money will be going to them anyways.

I've been saying it for a few months now...this whole scam is a WIN/WIN for the health insurance companies.

[DefenseLawyer]

3. You are not wrong.

I believe the technical term for this is a "boondoggle".

[kestrel91316]

4. Yes. HUGE profits, and they will still gleefully deny care.

Single. Payer. NOW.

[SpartanDem]

5. It may not be the huge windfall you think it'll be

Insurance companies have cherry picked the healthy and saved billions by denying coverage and care these practices will be outlawed. With the caps on cost sharing and premiums the days of people racking up hundreds of thousands of dollars in bills will be over.

[dorkulon]

7. I suppose we'll see what condition those caps are in when the bill leaves the Senate. nt

[leveymg]

6. Look at the cost of private college tuitions - federal funds just inflated the bubble

With no real competition or reason to keep costs down, it all goes into purchasing more commercial real estate and expanding institutional portfolios.