In response to:

Insurance Exchanges Won't Work

ahayes Wrote: Jun 30, 2012 8:31 PM
The law requires even basic coverage have a certain level of service and that the ratio of revenue spent on coverage to revenue spent on salaries/marketing/etc be at or above a certain level so such a thing would be fraudulent.
Words Wrote: Jul 01, 2012 4:33 AM
That didn't happen with the car insurance. Why do I know this? While I was stopped at a red light a car hit me at a pretty high speed from behind. The man didn't speak english, and had sham coverage. His "insurance" never paid a dime. My insurance paid for the damage to my car as if the guy was uninsured. My insurance agent referred to these insurance agencies as the "dirty dozen." Their clients have become so angry at lack of payout or repair, that these agencies had to install bullet-proof glass. Why they are allowed to operate, and not charged with illegal activity is beyond me.

In the aftermath of the Obamacare ruling, the proponents of Obamacare are touting “Insurance Exchanges” as one of the cost drivers to save people money. As a person who was on the board of an exchange, and has traded markets for twenty five years, I think I know a little bit about exchanges-or at least enough to analyze the government run exchanges for health insurance.

There is a lot wrong with the Obamacare bill. But one of the unique parts of the bill was the creation of exchanges for health insurance. However, these aren’t exchanges like you might be imagining.

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