The Public Option, Insurance Companies, and You
Summer 2009 has seen many heated debates over how U.
S.
health reform should proceed.
Both sides have argued that their view is the best for individual Americans and for the country as a whole.
However, sorting through the propaganda and mudslinging has been a difficult process, and it looks like it is going to get worse before it gets better.
Here we cut through the name-calling and scare tactics from both sides to examine a few important considerations regarding the potential public option.
How It May Affect Individuals The argument made by advocates of the public option is that the insurance options that are currently available to Americans are not satisfactory.
Many individuals and families lack health insurance because they either aren't covered through their company's health benefits program or they can't afford to pay for the insurance options that are available to them.
A public option would, ideally, offer an additional option to Americans at affordable rates so that all individuals and families could pay for health insurance.
Another potential benefit is that having a less expensive insurance option would make insurance rates more competitive across the industry, causing private insurance companies to lower their rates as well.
If it goes as planned, everyone would be paying less for health insurance in the future.
How It May Affect the Insurance Industry As mentioned above, a public option with lower rates could help keep private insurance companies in check, keeping rates affordable and "keeping companies honest".
However, opponents of the program believe that the public option may resort to unfair tactics in order to offer lower rates to Americans.
If the public health insurance option has access to taxpayer funds, it has additional financial backing that private companies can't rely on.
This may cause the government to offer insurance at a low rate that private insurance companies can't afford to match.
Over time, the public option might out-compete the private industry with its unfair advantage, thereby gradually taking over the industry entirely.
You and Your Options It is difficult to determine how exactly a public option would ultimately affect the insurance industry many years from now.
Whether this option becomes a reality or not, there are several health insurance options available to Americans, and it can be difficult to sort through the details of every plan.
If you are looking for health insurance and need assistance in choosing the right coverage for you and your family, please visit the website of Option 1 Health Insurance here.
S.
health reform should proceed.
Both sides have argued that their view is the best for individual Americans and for the country as a whole.
However, sorting through the propaganda and mudslinging has been a difficult process, and it looks like it is going to get worse before it gets better.
Here we cut through the name-calling and scare tactics from both sides to examine a few important considerations regarding the potential public option.
How It May Affect Individuals The argument made by advocates of the public option is that the insurance options that are currently available to Americans are not satisfactory.
Many individuals and families lack health insurance because they either aren't covered through their company's health benefits program or they can't afford to pay for the insurance options that are available to them.
A public option would, ideally, offer an additional option to Americans at affordable rates so that all individuals and families could pay for health insurance.
Another potential benefit is that having a less expensive insurance option would make insurance rates more competitive across the industry, causing private insurance companies to lower their rates as well.
If it goes as planned, everyone would be paying less for health insurance in the future.
How It May Affect the Insurance Industry As mentioned above, a public option with lower rates could help keep private insurance companies in check, keeping rates affordable and "keeping companies honest".
However, opponents of the program believe that the public option may resort to unfair tactics in order to offer lower rates to Americans.
If the public health insurance option has access to taxpayer funds, it has additional financial backing that private companies can't rely on.
This may cause the government to offer insurance at a low rate that private insurance companies can't afford to match.
Over time, the public option might out-compete the private industry with its unfair advantage, thereby gradually taking over the industry entirely.
You and Your Options It is difficult to determine how exactly a public option would ultimately affect the insurance industry many years from now.
Whether this option becomes a reality or not, there are several health insurance options available to Americans, and it can be difficult to sort through the details of every plan.
If you are looking for health insurance and need assistance in choosing the right coverage for you and your family, please visit the website of Option 1 Health Insurance here.
