Goldman Sachs report concludes insurers would profit from watered-down Senate health bill.
Goldman Sachs report concludes insurers would profit from watered-down Senate health bill.
The Huffington Post’s Sam Stein reports that Goldman Sachs (in the course of performing “God’s work“) did a report analyzing the impact of health reform on Cigna, Aetna, WellPoint, UnitedHealth and Humana. While Stein concludes that insurers would profit from undermining health care reform, the report also points out that a more “centrist” version of the Senate Finance Committee (SFC) legislation would lead to the highest “aggregate revenue growth” for the insurance industry:
Should lawmakers further water-down the SFC bill, the industry will stand to profit, the report implies, suggesting that the “bull” case scenario is a reform package that brings in millions of new government-subsidized customers without requiring the industry to pay any new taxes. Industry revenue would grow 6.9% from “more moderation of provisions in the current SFC plan or as a result of changes prior to the major implementation in 2013,” the report states. The report therefore suggests that the insurance industry may actually prefer watered-down reform over nothing. The Wonk Room has more. (Chart courtesy of FDL)
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There in graph form is the consequence of competition, however weak the competition would be unde the “public option”
November 13th, 2009 at 12:26 pmas it exists. Can you imagine the result if we had a real public option and real competition
So, Big Business wants to screw the average American, yet again? I’m truly shocked! God, these people are so immoral. We are chattle to them.
November 13th, 2009 at 12:27 pmWell, THERE’S a surprise.
November 13th, 2009 at 12:27 pmdUMB qUESTion Time:
Does Goldman Sachs have links to the insurance industry which may prejudice their opinion ?
Did Goldman Sachs sell short on financial products and make money on the economic meltdown ?
How did that work for the “person on the street” ?
November 13th, 2009 at 12:27 pmFirst, I don’t trust their analysis. Seems like it was cooked to make the public option seem a hell of a lot more destructive to profits than it should.
Second, “watered down Senate Finance Bill?!” How much more “watered down” can the bill get without it physically being the status quo? I’m guessing the “watered down” version contains all the mandates and none of the limits on banning pre-existing conditions et.al.
Third, man. I would love to see on that chart the effects of single payer. Like a bar three feet down off the graph.
Goldman Sachs has no credibility with the majority of Americans. They are merchants of wealth who feed on the misery of others.
November 13th, 2009 at 12:28 pmThey are doing God’s work, you know.
It’s all part of the plan.
Jesus wants poor people to suffer and die quickly, for the rich shall inherit the earth.
November 13th, 2009 at 12:29 pmthey won’t get the more “centrist” version. It is just a dream of theirs.
November 13th, 2009 at 12:35 pmman i wish they stop all this God work,,,, We can not afford it, I mean i sure as hell wish God and his right hand man Jesus was not so dam greedy and all.
November 13th, 2009 at 12:40 pmHow about an overlay of…?
a) How many people will die under each option for lack of health insurance
b)Bankruptcies due to lack of affordable health insurance under each option
c)Savings or increased costs to comusmer, for each option
d)Savings or increased costs to employers under each option
e)Estimated effect on worker productivity
f)Effect on government expenditures related health care
November 13th, 2009 at 12:40 pmThe whole Health Care for profit is immoral. You know who started this whole for profit Bullsh*t? None other then former Sen. Bill Frist and his father. The created the first of the HOMs. Funny how now he is FOR health care reform. Maybe a guilty conscience perhaps?
November 13th, 2009 at 12:44 pmYes, they must do gods work, because god wants people to die without health care. Simply put, if the congress does nothing or introduces a watered down bill, then they’ll keep on making ungodly profits.
This means we should have a strong robust public option. One that report shows would scare the bejesus out of the industry and benefits us, the common person.
November 13th, 2009 at 12:46 pmThe religious groups in this nation are too busy obsessing about homosexual sex, birth control and abortion to even pay attention to this “life” issue.
These religious groups have really become disgustingly materialistic these past several years.
It seems that all of them have morphed into the repiggie neo-con base.
November 13th, 2009 at 12:49 pmSo guess what we’ll get. “A little for me, a little for you, a little for me, a lot for them, a little for you….” A bill everyone should be pleased with. We’ll get our “health care reform” (kind of like [the conservative; that should be pointed out for the pointed-headed crowd that thinks that he was a "liberal"] Chamberlain’s “peace in out time”), now we can put that issue away for the next half century….
Cheers,
November 13th, 2009 at 12:49 pmWe need to listen what these guys are telling us because they are very smart people. They must be smart because look at all the money make, and they did such a good job with our economy. (Sarcasm intended)
November 13th, 2009 at 12:49 pmI sure wish Lloyd Blankfein and Goldman Sachs would come to my community of massive foreclosures and upside down mortgages (which they helped create) and spread some of that “godly work” around.
Just saying . . .
November 13th, 2009 at 12:58 pm…in the course of performing “God’s work“…
WTF? And they needed a bail out?
God sure is one puny, incompetent motherf***er.
November 13th, 2009 at 1:01 pmThe insurance companies like the Senate bill because they know it will increase their profits. They fear that public option because eventually it will be expanded. The companies have no intention of bringing down health care costs. That is why we need single payer.
November 13th, 2009 at 1:15 pmClearly, the people at Goldman Sachs have no shame. Corporations have too much say in how this country is run!
November 13th, 2009 at 2:49 pmThe report therefore suggests that the insurance industry may actually prefer watered-down reform over nothing.
Well then at least Joe Liarman (I-Healthcarelobbia) will get on board finally and stop fillibustering, since he’d do his corporate masters a bigger favor by passing the Senate bill than by passing nothing…
November 13th, 2009 at 2:52 pmWhen this is passed, the insurance co.’s are going to make out big time.
November 13th, 2009 at 3:20 pmWhat? The health insurance industry would profit from the health care reform they wrote? Whodathunk!
November 13th, 2009 at 3:56 pm