The Bomb Buried In Obamacare Explodes Today-Hallelujah!

[Bob Wallace]

113. This is getting tiresome...

Insurance companies will not be able to deny claims in order to increase their profits.

Insurance certainly will raise premiums if they think they can. But they will have to spend 80% of that collected money on health care for customers.

If individual companies raise rates higher than other companies they will lose customers and their profits will fall. Health insurance will now a "volume based" industry reliant on customer satisfaction. No longer a "screw the customer for profit" based industry.

If you think that 100% of the companies will get together and collude to somehow pay more for health services in order to grow their 20% you're living in a tin foil hat world.

Within days you would have physicians reporting how insurance company reps were trying to get them to spend more for patient care, to waste money, so that insurance companies could make higher profits.

One of the places that some of us will be able to buy our health insurance is Costco. You think Costco will be willing to damage their reputation by colluding to screw its customers? Or will it seek ways to drive down the cost of health care and make its customers happy so that it gets even more customers?

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"The average primary care physician spend up to 50% of their time dealing with billing or getting approval for procedures. That is inefficiency. It is a fact that doctors are leaving and not joining the profession in droves. "

You really should read the provisions of the PPACA - http://www.healthcare.gov/law/timeline/full.html

"Reducing Paperwork and Administrative Costs. Health care remains one of the few industries that relies on paper records. The new law will institute a series of changes to standardize billing and requires health plans to begin adopting and implementing rules for the secure, confidential, electronic exchange of health information. Using electronic health records will reduce paperwork and administrative burdens, cut costs, reduce medical errors and most importantly, improve the quality of care. First regulation effective October 1, 2012"