I see people saying this all the time. Maybe it's because Dennis Kucinich says it is. But I'm not buying it. Yes, the Insurance companies will get to insure approximately 30 more million people (another 6 million will be enlisted in the Public Insurance Plan and about another 1-2 million will be added to Medicaid). But here's what those 30 million more customers come with:
1. Insurance can no longer deny pre-existing conditions. Insurance will have to pay for services for people who are actually sick.
2. Insurance can no longer put a limit to what they pay for, even for people like me, who need more than $500 / month in medicine.
3. Insurance can no longer set rates together or cooperate regarding markets in a way that violates anti-trust laws. Insurance Companies are now subject to the same anti-trust regulation every other industry is.
4. Each rate increase an insurer brings will be subject to review by Health and Human Services.
5. Each plan that covers one of the 30 million new customers has to provide a minimum of services as dictated by the Public Insurance Plan
6. Each plan that covers one of the 30 million new customers must compete with the Public Insurance Plan
So exactly how is this a "Giveaway" to the Insurance Industry? It seems like people like to say this without backing up their argument. Maybe that's because they have no argument.