Employer Health Benefits May Go Bye-Bye

May 7, 2010

By Yul

You probably thought it was just a crazy cat’s raving when I suggested that Obama ban employers from providing health insurance to level the playing field. Well, dropping their health benefits is EXACTLY what Big Business is considering.

Rep. Henry Waxman, chairman of the House Energy and Commerce Committee, got steamed at employers for allegedly inflating health reform’s bottom-line effect. He demanded to see all their documentation and summoned the big-wigs to a hearing.

Waxman discovered in internal dirt from AT&T, Verizon, Caterpillar, and Deere that they had all concluded paying fines would be a MUCH lower and predictable expense than their time-consuming, never-ending crap game with insurance companies.

Waxman canceled his hearing and dummied up. So much for Obama’s foolish promise that “you can keep the insurance you like.”

What employers giveth, employers can taketh away.

The country will be better off if they follow through. Companies will have billions more for R&D and hiring. Without Fortune 500 companies to bilk, insurance companies won’t be posting 51% quarterly net income increases.

People who had employer benefits will get a much-needed reality check when they experience the absurdity of 50 inconsistent state insurance exchanges, and the country will be a few steps closer to universal healthcare and making a dent in the deficit.

On another front, WellPoint/Anthem and other insurers have suddenly gone all altruistic, claiming they’ll immediately stop rescinding coverage on the sick, unless the person committed fraud in applying.

Fraud cancellations are about to rise off the charts, and people can go bankrupt twice as fast — paying their own medical bills and the lawyers they’ll need to defend their integrity.

For the insurers, it’s nothing but a set-up to justify obscene 2011 rate hikes. (“We’re covering more sick people now!”) WellPoint was recently forced to back off that 39% increase in California as unwarranted, so they’re going to make everyone else pay. Just you wait.


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