Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Health Insurance Companies vs. Obama

Details

  • Description

    The Galen Institute’s Grace-Marie Turner discusses the future of insurance in America.

  • Duration 4:17
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Go watch the -- -- idea -- share -- with your friends go to our FaceBook page we posted the entire video right that.

Health and human services secretary Kathleen Sebelius says the private insurance market was in a death spiral long before obamacare was passed the Supreme Court just started hearing a challenge to the law they started at the top of the Al.

Great relief -- joins us from the Galen institute in DC.

OK do you deal from the health insurance industry that's what you do that's -- you -- your own.

My brother I've run a nonprofit think tank and -- certainly -- all of -- health insurance industry OK -- final objective that viewers does do you agree with.

Did you do you think that Obama -- would kill.

The private health insurance business.

You know I think the private health insurance that this is going to be worse off if obamacare goes into effect as it is.

Because they are going to become regulated utilities.

Many of them already are having to drop out of of many states because they can't survive.

Under the rules and regulations and -- mouth and the more our comment.

We'll do so we have this episode OK so if Obama camp is thrown out by the supreme -- the mandate for example that's rejected.

Is that a win for the health insurers.

I think initially it will not be seen as such because right now.

Health insurance companies are people are being compelled to purchase a product that the health insurance companies fell.

But when you look at what's going to happen thirty million people.

Are likely to to say I'm not buying this insurance because it's too expensive.

23 million.

According to the congressional budget office's own estimates aren't covered by the mandate.

CBL last week said that twenty million people are gonna lose their employer based health insurance.

What we neat as a real market so that the companies are able to sell the products that people want -- want to help -- -- -- -- I have I see your point and I am -- -- explained it very very well but I'm looking to the near and medium term future.

Whether or not this -- thrown out doesn't really matter we've got chaos we have improved absolute chaos that and if he's thrown out.

That's not gonna be rectified.

Anytime soon you cannot rectify this thing into -- way into next year when he got a new congress.

There is say there is an absolute.

Sense among the American people that this law's wrong for America.

And one way or the other it's gonna be delayed.

People are going to rebel against it.

Employers already saying they're gonna drop coverage so basically I think we have a wait and see attitude and tell the end of June -- likely to get the Supreme Court just short.

But ultimately the voters have the final say in November.

Using we need a real market how to we get there how do you do that.

You get it by by deregulated.

Rather than piling on hundreds of thousands of pages of regulation on to our health care system.

You've given that people -- the resource is to purchase their own coverage.

Free up the markets allow cross state purchasing of health insurance.

Allow portable insurance so people are buying the coverage that works for -- very best and that's the Ryan plan is it.

Very similar this -- and -- -- plan and it's partly the thing that makes sense for this country look at David the first.

Problem is we can get to solutions were seven minutes right now -- -- arguments which go on on the mandate today is it legal or not.

Both sides agree it's a penalty so my questions do not only to the guests but to the American people is.

Are you going to be told what to purchase.

And does this change the make of our country and it's a slippery slope.

That's one of the legal issues here.

That's right no where ever has the federal government required us.

To use our own personal money to buy a private product.

Under penalty of federal law come co worsening us into engaging in a private contract that's unheard -- that's why the American people.

Fundamentally.

Say this this law has to go because it's really on America.

Right grace Marie Tony you are right in the middle of this debate house is every American and we thank you for joining us today thanks so much -- a direct effect from.

Load More