Tuesday, February 9, 2010
If insurance coverage could be purchased across state lines, I think that the Federal Government would have to step up and require very strict regulations for insurance companies. They would have to ensure that all companies have the exact same rules and regulations. I think a national exchange would be extremely helpful if it is enacted properly, by including the same basic coverage. The competition would help to lower the overall costs of insurance, as long as insurance companies cannot charge different prices for the sick or elderly.
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I agree with Suzanne. After reading the article, it will only be fair if all insurance companies charges the same. However, we live in a money market,and profit drives the market, so I think the government will really need to regulate on the insurance chargers and what.
ReplyDeleteI totally agree with Suzanne. People should not be charged differently according to where they live. Federal government should step up and figure out how to regulate insurance companies in the same way across states. For insurance companies, it's probably a better way too since the pool is larger and shared risks maybe smaller and they can have better deal with physicians or hospitals.
ReplyDeleteI agree with Suzanne. I think having insurance run across state lines will be beneficial to consumers. The current system is complex with administrative work, and does not keep prices at a fair market value. Like Ariel pointed out it does not seem very fair that people are charged and provided with different benefits based on where they live, in some ways this is discriminatory. Additionally, once someone moves across state lines it's hard to maintain consistency and quality of care with the current way insurance companies are set up.
ReplyDeleteHowever, I do think it's important that the national government regulate the minimum benefits each insurance plan provides if insurance companies were to cross state lines. There should be a stringent list of basic guidelines each national insurance plan would have to provide. I feel this kind of policy move would prevent fraud and keep insurance benefits balanced. Additionally, I think the added competition would keep insurance premiums down.