Wednesday, July 29, 2009

Healthcare Reform: Ban rescissions

While at a left wing blog site, I was reminded of the premise that private sector insurance companies employ a profit protecting methodology called "rescission". A link to an article saying as much was his proof.

I just have to ask Democratic Party supporters; Why is there no law banning rescissions?

Consider this: The Democratic Party have set themselves up as the protector of the little guy in America, the "blue collar" party whose members "feel your pain" and are only in government to look after your best interests have allowed this practice to go on while they were and are in a position to stop it. The US Congress, House and Senate, have been under Democratic Party control for almost all of the last 6 decades. Additionally, they had Democratic presidents for 20 of those years.

Is this how they show their selfless service? Could they have done something about it?

I'm going to say yes, this is how they show their service and that they could have banned this practice. But they didn't.

Next question: Why not?

My first guess would be lobbyists. Our politicians live and breath for lobbyists. Lobbyists have access to real money that their representatives need to maintain their elected offices. You know, so they can help you.

If that sounds cynical, how about this: The US Congress passed a law in 2008 to try to prevent insurance companies (AIG), banks and other Wall Street investors from filing for bankruptcy, while telling you that they were going to save the mortgage industry so you could continue to own your home. They passed out hundreds of billions of federal tax dollars to these companies with no strings attached. Did it stop any foreclosures? (no.)

I wonder how much of that they expected to get back in the form of campaign contributions or maybe special treatment on home or business financing at some time in the future?

Going back a few years to 2001, I wonder if there was some relation between the fact that we taxpayer gave tens of billions of dollars to the airline industry and the fact that Senator Tom Daschle's wife was a high paid lobbyist for the airline industry?
Note: Senator Tom Daschle 22nd United States Senate Majority Leader June 6, 2001 – January 3, 2003

So again, why haven't our representatives banned the egregious practice of rescission?

Oh, I don't know. Why don't you ask their lobbyists?

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