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How can a insurance company compete with an entity that does not have to make a profit, no taxes, and can get $$ at a cheaper rate than them?
Obama said so in a speech a few days ago, that the government program would indeed have these advantages over private companies, so how can they compete? They can't this bill, if passed, would eliminate the private companies. I read another thing that will bring this about, employers that sign up with the government option would get a 5% tax break on employee taxes, so it will be cost effective for these employers to leave private and go government option.
This will not increase competition, it will eliminate all competition over several years. Look up some of the latest miracle drugs for any sickness and see where they were developed, most were developed here as they can recoup their investment and make a $ in the process. Eliminate this and things will definitely change for the worse.
The #1 cost for the health care industry is frivolous lawsuits, if we eliminate them we just about save the system.
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