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Dems To Tax Insurance Companies

From an approving Associated Press:

U.S. Senate Finance Committee Chairman Max Baucus (D-MT) addresses ...

U.S. Senate Finance Committee Chairman Max Baucus (D-MT)

Time running out for bipartisan health compromise

By Larry Margasak, Associated Press Writer

WASHINGTON – Time is running out for a two-party compromise on health care as a bipartisan group of six Finance Committee senators considers a new proposal that might be the last, best hope for an overhaul agreement.

The six were to meet Tuesday on Sen. Max Baucus’ proposal to create nonprofit insurance plans to compete with those offered by profit-making companies. The proposal by the committee chairman is noteworthy for the piece that’s missing: a government-run alternative favored by liberal Democrats.

President Barack Obama, who will address Congress and the nation on health care Wednesday night, told a Labor Day audience that it’s time for insurance companies to share accountability for problems in the system. He was not addressing the Baucus plan.

Four congressional committees so far have produced partisan plans for revamping the nation’s health care system. Baucus, D-Mont., said he would move forward with a plan if there’s no bipartisan agreement by Sept. 15.

Baucus would impose a fee on insurance companies to help finance coverage for uninsured Americans

Democratic sources close to the negotiations, who were not authorized to be quoted by name, disclosed the fee and other details of the Baucus proposal. One source said the proposal included suggestions from all six members…

Besides establishing a new way to purchase coverage for Americans who have trouble getting and keeping health insurance, the Baucus plan would allow Americans to keep their own doctors.

Health insurance exchanges, with information on different plans and prices, would allow small groups and individuals to buy policies at lower rates. Medicaid would be expanded to cover more low-income people. Nonprofit cooperatives would be established as an alternative to for-profit insurance companies, giving consumers more choices. Tax credits would allow low- and middle-income Americans to buy private coverage.

The package is estimated to cost under $900 billion over 10 years.

If insurance companies passed the new fee along to customers, they would run the risk of losing out in a newly competitive environment, a source said, reflecting Baucus’ thinking.

The package would make it harder to pass along this fee. Insurers would be required to release their administrative costs included in premiums and profits. That provision is designed to help customers determine whether they are getting a fair deal at a good price

What a great idea. Tax insurance companies and (somehow) prevent them from passing their cost increases on to the consumer.

And then use the tax money collected to create ‘nonprofit cooperatives’ to compete with the insurance companies, and eventually drive them out of business.

That is fair. That is real healthcare reform. (If by ‘healthcare reform’ you mean destroying the insurance industry. Which seems to be what the Democrats mean by the term.)

Worse yet, just imagine the amount of intrusion that would have to be involved to be sure that these companies are not passing along the costs of their higher taxes.

And why stop with Big Insurance? Why do not do the same with Big Pharma and of course Big Oil? Tax them, and also forbid them from raising their prices accordingly.

That will do away with their evil profits. (And maybe stop them from doing business in the US, altogether. Which would appear to be the real ultimate goal.)

And speaking of taxes, wouldn’t the simplest and quickest healthcare reform simply be to give a tax break to those who buy health insurance?

Wouldn’t that encourage more people to buy health insurance. And isn’t that supposed to be the real goal of all of this so-called reform, to get more uninsured people insured?

Why hasn’t Congress already done this? It could be done it a matter of days. And, after all, it is the traditional way that the government has encouraged people to do the things they want them to do.

Moreover, it wouldn’t require any massive increase in the bureaucracy, or any further government intrusion into our lives.

Wait a minute…

We seem to have just answered our own questions.

This article was posted by Steve on Tuesday, September 8th, 2009. Comments are currently closed.

10 Responses to “Dems To Tax Insurance Companies”

  1. Confucius says:

    I realize this is contrary to the principles of liberty and capitalism, but I hope Blue Cross Blue Shield gets hit . . . and hit hard.

    Dear BCBS,

    Remember me?

    Hugs & kisses . . . xoxo . . .


  2. proreason says:

    They could reduce the size of the “Bill to Destroy the Health Insurance Industry and force a Single Payer System” by about 95% if they just set the prices for the Insurance Industry. That would achieve this step on the march to Fascism much faster and easier.

    And Obamy could install his favorite commies as CEO’s and let those companies charge more so that his commissars would be happy.

    Why does proreason have to think of all this stuff?

    Aren’t there any smart fascists left?

  3. MinnesotaRush says:

    “Time is running out for a two-party compromise on health care ..”

    As if that clock ever really started (or needed to).

    Let’s fast forward this movie. Picture a world without insurance companies. You get in a car crash – you pay! No deductibles .. no claims to file – just .. you pay! Hope nobody gets hurt. Have a heart attack today .. go to the hospital – you pay! No claim forms, no nothin’ – you pay!

    Picture a world without oil/oil companies (they’re moving up the list). Gasoline – $8.00/gallon IF you can find it, or simply, no gas or gas rationing. You pay (if you’re lucky enough to have to)!

    And this list could go on and on and on and on. Start to picture a life WITHOUT all this stuff the gubamint is gonna ‘fix’ for us. I don’t want to live there or have my kids have to!

    Let the markets ‘fix’ the problems and the government fulfill its’ mandates (provide for the common defense .. help to build and maintain an infrastructure .. and enable domestic and foreign trade).

    But why would a King not want to run everything??? Just aksin’.

  4. canary says:

    Another intent to bankrupt all Americans until there is nothing left.

  5. BannedbytheTaliban says:

    Raising taxes on insurance companies and benefits will make higher costs for healthcare a self-fulfilling prophecy. Then they’ll say, see I told you so.

  6. Liberals Demise says:

    Obama on TV taking to the American Audience:

    “STICK ‘EM UP!!!!”

  7. Chuckk says:

    Why is it that the solution to every problem is a new tax?

  8. bousquem says:

    I’d like to see a tax on the medicaid patient’s who are sitting on their rears collecting goverment money for spawning more kids they can’t afford while sitting on the couch watching TV. Also start a tax or fee everytime they go to the ER because their kid has a sniffle instead of taking them to the primary care doc. Wait, that would make sense and it seems like alot of the folks on medicaid don’t believe in actually making appointments to go to the doctor, that might require waiting a day. Instead they can haul the whole clan down to the ER/ED so they can get seen for sniffles and fake complaints to get them some more narcotics.

    • Liberals Demise says:

      Let us not ruffle 12% of the majority as they sit in their government paid closet. That isn’t PC, don’t cha know?

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