Tuesday, June 19, 2007

3912

Why big business opposes market-based medical care

Craig J. Cantoni used to earn his living making corporations more competitive and productive. He was the go-to guy who would figure out how to reduce costs in health care--higher co-pays and deductibles, second opinions, etc.--although he says the one problem he never could solve was how to stop employees from thinking they were spending other people's money. He admits he was slow to ask himself some painful questions about how he earned his living.
    Corporate executives in high tax brackets benefit the most from getting employer-provided medical insurance with pre-tax dollars. But millions of lower-paid rent seekers also benefit from employer-provided medical insurance, including employee benefits managers and administrators, benefit consultants, tax consultants, actuaries, ERISA attorneys, producers of record-keeping software, and publishers of benefit forms and booklets. . . Many are Republicans who in the privacy of the voting booth would never vote to give up their regulatory rice bowl. . . Many others are Democrats who bemoan the plight of the uninsured and deplore the growing wage gap. But in the voting booth, they would never vote to give up their regulatory rice bowl, which drives up the cost of medical insurance and lowers wages by subsituting medical insurance for wages."
Read his article , published in the Journal of American Physicians and Surgeons, based on his address to the AAPS in 2006.

1 comment:

Pray or prey said...

No doubt in that as corporate executives really benefits from these insurance business. It really provides in and out profits but would it be last long enough.