New Rules in Health Care?
Federal rules were issued today as Washington moves forward on Health Care reform. The new regulations are aimed at dictating how insurance companies allocate revenues. Many insurers will now be required to spend more on medical care and less on overhead, expenses, and profits. These regulations could lead to fewer companies in the health care coverage industry. Wouldn't this actually be worse for consumers in the long-run? Less competition in an industry usually leads to fewer available options for consumers and higher prices. To combat this, the government will likely have to take further actions that would eventually lead to a government ran system. Is more regulation really the answer to the Health Care crisis, or is it just another band-aid being created by Washington?