Robert Reich on Obamacare: It’s Working Despite Misinformation

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24. Health Insurance Companies

are nothing more than glorified bookkeepers. We pay them to pay our medicals bills from the pool of premium they collect from us. But then they got too greedy, designing policies that cover as little as possible and claims departments dedicated to finding ways to deny claim payouts. They rigged the system to line their pockets. And ACA was the necessary response. Everyone agrees sanctions were needed. But the problem with ACA is that it still keeps a for-profit business between you and your healthcare. Those high deductibles are gifts to the insurance company. The idea of deductibles was to discourage people from seeking unnecessary medical treatment. Now insurance companies use deductibles to increase their profit margins. ACA took away some of their favorite toys, pre-existing conditions and lifetime caps and in return, allows the insurance companies to load up front these large deductibles. Why should we have to subsidize insurance companies with a deductible when we already pay them a premium. Get rid of the insurance companies and eliminate deductibles. Its a racket and shakedown.