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Will Obama's Healthcare plan put Insurance Companies out of business?

I know I sound like an idiot, that's why I'm leaving this anon :) But since his plan is for everyone to have healthcare in the US will insurance companies go out of business? Just curious!

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Asked by Anonymous at 4:23 AM on Oct. 19, 2008 in Politics & Current Events

Answers (13)
  • from what I've been told, you don't have to go with the one he's setting up, if you have an insurance provider and don't want to switch, you can.

    so I don't see why they would go out of business. The rich people will still want their insurance they've had for years.

    Answer by Anonymous at 4:25 AM on Oct. 19, 2008

  • I think his plan works with insurance companies for reduce rates. that's how they do it in massachusetts


    Answer by Anonymous at 4:30 AM on Oct. 19, 2008

  • He will put an end to the Lobbyists for Insurance Companies, so that they are not setting the agenda & writing the policies in Washington. This may put a few lawyers out of a job & the Ins. Co. CEO's may have to take a pay-cut, but do we care?

    Answer by klynnrn at 5:27 AM on Oct. 19, 2008

  • Nope- in fact it will keep them in business because people will be forced to carry insurance. Brilliant right? Especially since insurance companies admit that they deny one in seven claims.... so we'll all be walking around with insurance- but quite possibly no health care.

    For the people that can't afford insurance, the government will buy it for them. Which means everyones tax dollars go into buying a few people's 'insurance.' AKA- more money going to the insurance companies.... Interesting isn't it?

    Answer by EricaAbbott at 7:07 AM on Oct. 19, 2008

  • Obama supporters will tell you no. But consider this, with his plan, he wants to provide government health care for all of those not covered by their employers health insurance. So say you work for company X and they are insured by Blue Cross. Well, company X pays a lot of money to Blue Cross to have you insured. Once Obama gets into office, what is to keep company X paying for that insurance from Blue Cross? Why should they continue to buy health insurance for their employees when the government will give it for free? (another way those CEOs can make up for the extra taxes they are going to be paying). cont...

    Answer by Anonymous at 9:03 AM on Oct. 19, 2008

  • cont...So company X will likely drop their plan with Blue Cross and then you will be forced to either buy your own health insurance or take the government plan. A lot of companies will see this lovely little loop hole, a great way to save money, and they will stop buying private insurance for their employees. Eventually the government will either have to start spending more money on the insurance companies, or they could close down. So in answer to your question, yes, its a real possibility.

    Answer by Anonymous at 9:04 AM on Oct. 19, 2008

  • Oh and for those that think "rich" people will keep health insurance companies afloat. For many, its actually more expensive to buy health insurance, than it is to just pay for medical expenses out of pocket. So there will be very few remaining that are still on any private health insurance.

    Answer by Anonymous at 9:15 AM on Oct. 19, 2008

  • No!! but you can bet they will have to compete more or go out.

    Answer by MadMom4808 at 9:20 AM on Oct. 19, 2008

  • Obama wants to give a 50% tax credit to employers who offer health insurance so why would employers drop insurance? Doesn't anyone watch the debates?

    Answer by sallyjrw at 10:04 AM on Oct. 19, 2008

  • The rich will still want their insurance? I want my insurance and I am NOT rich...and I will keep mine as long as possible.
    However, eventually, we will be all on Obama's plan. At first it is a choice and then it will be something that we will have to switch to b/c employer based insurance will become to expensive.

    Has nothing to do with the debates....has everything to do with common sense.

    Answer by Anonymous at 10:44 AM on Oct. 19, 2008

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