NYT: Health bill will not create the thing insurers fear the most

[Ean Juan]

March 21, 2010
New York Times

In Health Reform, Boons for Hospitals and Drug Makers
By REED ABELSON
With a sweeping overhaul of the nation’s health care system, Congress would be giving the health care industry as many as 32 million additional paying customers in the next few years.

That would mean millions more Americans buying private health insurance and better able to pay for their hospital stays, doctors’ visits, prescription drugs and medical devices.

And some analysts said as the vote neared that the final legislation was shaping up as much kinder to the industry than many initially feared. Hospitals and drug makers, which supported the final legislation, would be clear beneficiaries, analysts say, even if the outlook for insurers was less certain.

Yet the bill would not create the thing that insurers feared most: a government-run public option, a health plan that would compete with the private insurers...


...

Read it all: http://www.nytimes.com/2010/03/22/business/22bizhealth.html?hp=&pagewanted=print

[Fumesucker]

1. From the department of "Doh, really?"..

The NYT has an unbreakable grip on the blatantly obvious.

[Ean Juan]

2. Many people may not know there is no public option

Particularly, people who are not stuck to political blogs 24/7 reading about health reform.

Perhaps many were not following news on the public option, and will decide to read about health care today because of the big news about the bill being announced.

Many people may also not know that insurers dread the public option.

[sabrina 1]

8. That's true. Most people don't have a clue

about this issue. If they're Democrats they assume it must be, finally, a Universal Health Care system. If they're Republicans they assume the same thing.

One of my friends who is not very involved politically, was shocked to find out that 'we are not getting that Universal System like Europe has?' When I told her 'not even close', she said 'damn, I thought that was what they were fighting about'. She probably heard the Republicans claiming that. If only they had been right for once.

[mmonk]

7. Maybe they just figured it out.

[OmmmSweetOmmm]

3. Just watch the stock market tomorrow.

[BrklynLiberal]

4. Insurance company stock going to soar....

[OmmmSweetOmmm]

10. Are we "psychic" or what?

http://www.usatoday.com/money/markets/2010-03-22-stocks-monday_N.htm?csp=34

NEW YORK (AP) — Health stocks lifted the market Monday following House approval of an overhaul bill that would extend insurance to millions.

Investors had expected the health care bill would pass the House, but the approval late Sunday removed uncertainty about the rules that would govern the industry. A companion bill now goes back to the Senate. The changes could have far-reaching effects on health insurers and drugmakers.

ON POLITICS:Latest on health care

Stocks opened lower following more doubts about Greece's ability to repay its debt. Concern about the country's fiscal crunch pushed investors into the safety of the dollar. The rising dollar hit shares of energy and commodity producers, who see demand fall when the dollar strengthens.

The latest concern is that Greece might not get the outside financial support it has been seeking. The country's debt woes have dragged down the market off and on for nearly two months as the country tries to cut its budget and is looking for outside support.

The gains in health stocks overshadowed questions about Greece. Health stocks rose in part because the bill passed by the House will extend benefits to 32 million uninsured Americans. That means increased business for insurers and drug makers. Many of the key points of the bill will not go into effect for several years.

[New Dawn]

5. Duh, the insurance industry wrote the legislation.

Leave it to corporate media like the NYT to feign surprise.

[troubledamerican]

6. LOL. We "Won".

[DCBob]

9. Juan has been pizza'd

heheh.