Wednesday, February 10, 2010

I think there can be a solution that covers both sides of the arguments. The US should allow interstate insurance purchases but should standardize the coverages of insurances on a nationwide level. The government already standardizes many things on a nationwide, why not add insurances to that also.
Standardized insurance policies along with interstate insurance purchases will give proper coverage and maximize competition among insurance companies. From a consumer standpoint, it is a win-win situation. I think standardization would also be beneficial because it is unfair to a residient of hawaii to have to pay extra for care of an austic child than a resident of california. You pay the insurance companies for coverage, it shouldn't vary according to geography.
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  1. Julie ChoudhuryFebruary 10, 2010 at 8:56 PM

    Although, I appreciate the question of this week I have to ask, what do you mean by “national insurance exchange”? And by that, what does it entitle? Would the national insurance exchange debunk state’s regulation for health insurance as we now it today? I feel this question is a multi-layer answer and requires clarification.

    If we lived in a perfect word, I believe a national insurance exchange would only succeed if health insurance is standardized nationally. Much like an iPod or iPhone is standardized across the county so should certain procedures like MRI or UltraSound. If a standardized health insurance is created than there would be no need for insurance companies to “compete” for business. Moreover, what better way to contain costs if everything was priced the same nationally?

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