Mandates And Universal Healthcare, Another Bailout?
In the current democratic presidential race, the health care policy reform issues stirred up by Clinton and Obama span even larger economic problems for many Americans, including immanent recession. Health care reform is at the center of policy debates that are connected to the real estate market, the vast debt of financial institutions, and private insurance companies.
The finance sector of the US economy, comprised mainly of the three markets just mentioned, is now responsible for approximately 50% of domestic corporate profits. Clinton’s idea for a mandate, forcing those without insurance to purchase it, could lead already strapped consumers into further financial ruin. These consumers currently face rising insurance premiums that have escalated 87% in the last ten years and trillions in outstanding credit (mostly from credit cards and the recent sub prime mortgage missteps).
Massachusetts is one place to look for whether or not mandated health insurance works. The state has reached a point where spikes in premiums are forcing either cuts in services or compensation for hospitals and doctors. Forcing people to get insurance (which doesn’t ensure them proper coverage) will only ensure the insurance companies more profit.
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