Category — insurance

Remember, the government gave us OSHA, that organization which spent a great sum of your money ordering auto manufacturers to make hood ornaments that folded out of the way. All to protect you from cuts by said ornament when you are struck by a vehicle resulting in your passing over the hood.

Ask yourself a couple of questions. What does Congress know about making shoes? How about airplanes? Canoes? Trains? (Amtrak anyone) Interstate trucking?

Given this, why is Congress involved in controlling and regulating any of these businesses? Government interference costs us untold dollars through added costs to businesses which are passed on to the consumer.

Introducing the following ideas will reduce costs mostly by getting the government out of business.

In a previous post, I mentioned deregulation is good; no regulation is a fiasco. Safety is the primary consideration. Beyond that, let companies use equipment they like and pay prevailing wages. Return On Investment (ROI) to the shareholders determines size and scope of operations.

Markets scrutinize themselves with a Darwinian progression that cleans the bones of the weakest.

One item that goes with deregulation is ending all subsidies. Make it or fall down. Someone will step over the corpus and fill the slot.

Regulate Public interstate transportation for safety. All security devolves on the corporations with failures of the aforementioned piercing the corporate veil, putting all management’s, junior through top level, personal wealth as well as personal freedom in jeopardy.

No regulation of fares, let them charge what they want; let the public travel as they wish. Those that cannot control their bottom line soon are food for the bottom feeders.

Regulate utilities the same way, with the public able to buy from the cheapest company regardless of where they are. Only charges that one company may bill another for line usage come to scrutiny.

Sell insurance (Life, Health, Casualty) across state lines. Today, the Feds as well as the states regulate the financial strength of companies as well as policy wording for coverage. Surprised you’ll be at the rate differentials when one buys a basic policy and add the coverage one needs. Requirements like acupuncture and aromatherapy added to the policy as perqs for constituents, drive up premiums for all. Most persons need a Major Medical policy to cover catastrophic costs, a $10,000 deductible keeps premiums reasonable.

International companies comply with the regulations or shut them out of the market, no exports period. MFN trading status is a powerful club to get conformation with national trading conventions.

There were 12% fewer free care hospital visits last year, and the solons are ecstatic:

“This is another indicator that healthcare reform is succeeding,” said Sarah Iselin, commissioner of the state Division of Health Care Finance and Policy…

Did the state save any money? I bet that question would bring a frown to Ms. Iselin’s face. In reality, our mandatory health insurance law is just a shell game. Free care visits have been replaced by massive overruns in the Health Connector budget. That’s hardly reason to celebrate.