Archive for September, 2009

President Obama’s Health Care Speech

Thursday, September 10th, 2009

I listened to President Obama’s to learn what he had to say compared to what I have been reading and hearing from other people. I was not impressed. For those already covered by insurance, he offered nothing new except higher rates because he will impose additional tax on insurance companies on their better policies. He says that he will provide insurance to all without it costing a single dime, and pay for it with better utilization of current funds. When has the government ever acted with fiscal responsibility. If President Obama can do this for the entire government then he will be able to provide free health care for all Americans.

In addition, not only does he want about 50% of our income in the various taxes, he now wants to tell us how to spend the remaining 50%. He wants to force us to buy insurance when we do not need it. A better way would be to allow a pre-existing condition exclusion when you first apply for health insurance or when you apply for it after letting an existing policy lapse. That will promote individuals to get insurance early, and keep it up.

He wants to limit our out of pocket expenses. This is a good thing, but insurance company is a business that has to run at a profit. This means that premiums will have to rise to compensate those who live a risky lifestyle.

Most importantly, he wants to eliminate corporate interests in health care. Yet he wants to this by ensuring the profit of insurance companies, a corporate entity.

I am not impressed by his speech or his words. I do like his goals, but apparently he has no idea on how to achieve them.

Neeraj Nigam