Sunday, May 16, 2010

The Health Insurers' Faustian Bargain

By Paul Hsieh

[Note: This post is part of Modern Paleo's weekend schedule of blogging on Objectivism on Saturdays and free market politics on Sundays.]

The May 15, 2010 American Thinker has just published my latest OpEd, "The Health Insurers' Faustian Bargain".

My theme is that the compromises that the insurance industry have made with the Obama Administration will merely lead to their own destruction and to a nationalized "single-payer" health system.

Here is the opening:

In early 2009, health insurance companies struck a Faustian bargain with the Obama administration. In exchange for a law requiring Americans to purchase health insurance, they agreed to regulations requiring them to offer coverage to all comers regardless of preexisting illnesses. Now that ObamaCare is law, insurers are learning that they may have sold their souls to the Devil -- along with the lives of the American people.

At first glance, ObamaCare might seem a good deal for insurance companies by guaranteeing them a market for their services. But this guaranteed market comes at a steep price, with the government dictating whom insurers must cover, what benefits they must offer, and what prices they may charge...
(Read the full text of "The Health Insurers' Faustian Bargain".)

[Crossposted from the FIRM blog.]

Update: Thank you, USA Today, for linking to my piece on your state news blog!

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