Thursday, April 23, 2009

Unbundling Health-Care Derivatives

Connecting.the.Dots - by ROBERT STEIN

Like the derivatives that wrecked the housing market, profit-seeking insurers have created a convoluted system that siphons off one out of every three health-care dollars for themselves, giving Americans less care for more money than any place else in the developed world.

In reform legislation, it's crucial to include what has been called a Medicare-for-All option that would give consumers a chance to buy care directly and pressure private insurers to improve what they offer.

Without such a choice, health-care "reform" could turn out to be like Wall Street bailouts that shovel money to Citibank, Bank of America and AIG and leave all the decisions about spending it to their discretion.

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