President�s Speech Allays Some Fears in the Health Insurance Industry

During the summer�s heated discussions over health care, when Democrats seemed quick to portray the health insurance companies as the system�s main villains, the industry seemed to be in policy makers� cross hairs.

But as the specifics of Washington�s proposed overhaul have emerged in recent days � from Senator Max Baucus and in President Obama�s speech on Wednesday night � some industry analysts say insurers may not have much to fear.

�The outlook is moving away from the worst case,� said Les Funtleyder, who follows the industry for the investment firm Miller Tabak & Company in New York.

Even Mr. Obama, who had recently stepped up his criticism of the industry, seemed to soften his stance on Wednesday. He recounted a few insurance horror stories � as might be politically necessary when arguing the need for a system makeover. But as he outlined his plans for health care, which focused mainly on a revamping of the nation�s insurance system, he was careful to point out that the executives who run those companies were not �bad people.�

Mr. Obama also made clear that the industry�s biggest worry � the specter of a government-run health plan competing with commercial insurance plans � was not a necessary ingredient to the legislation he seeks. Additionally, he emphasized that he did not want a drastic move away from the current system, under which private companies provide coverage to the bulk of working Americans who are insured.

�I have no interest in putting insurance companies out of business,� he said.

Some industry executives on Thursday acknowledged the president�s shift in tone. �The rhetoric seemed to be much more positive,� said Ronald A. Williams, the chief executive of Aetna, one of the nation�s largest health insurers.

The reality may also be much more favorable to insurers, industry analysts said. Mr. Obama has already agreed to grant one of the industry�s dearest wishes: a requirement that everyone have coverage, which is reflected in the proposals in Congress.

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Yes, insurance companies will love it if all people are required to purchase insurance. More money for them! Are they bad people? I guess that would depend if you associate greed with badness.

It is against our constitution to have a federal mandate to force someone to purchase insurance or anything for that matter.... by the way, auto insurance is not a federal mandate, it is state regulated and all states made that decision on their own.

Now we have states in major protest. 17 states are getting ready to file suit against the FEDS on this issue. Its just not going to fly. Other states are still considering joining in but have not as of yet made a decision.

More than anything here, we have a major constitutional challenge and states are getting ready to hold their ground for a battle.

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I personally have no problem with a state requiring its residents to have health insurance. People will move if they do not like it, or it will fail if it is mismanaged, which usually happens over time.

There is no mechanism of failure with a federal program. The threat and reality of failure is what keeps bad businesses and bad business practices from surviving in the real world. There is no such check or balance with a federally run program, since there is no limit to the amount of money you can pile on the problem.

Dan

I have been following Obama closely since he was elected. All you have to do is look at the money that was "donated" and the people who got him elected... big pharma right at the top, followed by big business/wall street, and organizations that can easily be traced back to the military industrial complex.

He was not elected, he was selected, and I wouldn't believe anything he says, especially when it comes to health care. Remember, he was the one who pushed for H1N1 flu vaccines for all.

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Let Food Be Your Medicine And Medicine Be Your Food.(Hippocrates)

Now there's talk that our health benefits package at work could be taxed if they're above a (soon to be determined) certain amount. What the heck?!
I understand the oil floating on the top of gravy has to be skimmed, but it better not affect me. That was part of my employers contract to me for becoming their employee....

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I voted for Obama. Not that I believed that it was of any significant meaning. He is a Bilderberg puppet and will work to usher in the new world order.

Have you seen the new movie done by the same guy who did Loose Change about 9/11? Its called "Invisible Enemy" I highly recommend it. I don't know if its on youtube. Might be. My son gave me a copy.

Yes. He was absolutley selected... and only because he can control people with his message better than Hillary.

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I predict here and now that the next "selected" president of the USA will be Hillary Clinton.

She will run against, and easily defeat, Sarah Palin.

My God, what is the world coming to...