Larry Page: You Worry Too Much About Medical Privacy

Although it's possible some providers may try offering inferior plans, the fact that it is still a free market (contrary to the 'socialist' cries from the the fringe elements), any provider offering substandard plans would quickly find themselves left in the dust or heavily penalized if they tried to gouge customers. The affordable health care act requires that all applicants of the same general age and geographical location be offered the same premium costs, meaning any spikes due to pre-existing conditions will be averaged across a large number of individuals, which also includes a large number of health individuals which will balance out those spikes. Providers will also have to reinvest a set amount of profits into consumer benefits rather than profits, meaning the increased customer base doesn't necessarily mean they will get rich. There are indeed some good protections in the act that are consumer friendly.

Those who try to gouge customers will also be barred from getting into the healthcare exchanges and the customers that those exchange will provide. Such companies will also be monitored by the HHS, DOJ and FTC, who will in turn report such gouging to the local states to see if the price hikes were 'justified', and can have penalties levied against them if they are found to be gouging. The information will also be published to the public. Such information would create a very black eye for any reputable company. Pharma and medical equipment manufacturer's are also covered under that provision.

In short, gouging from the insurance industry is not very likely, and can be promptly addressed at the federal and state level if needed.

Those who fall into poverty ranges (up to 138% of the poverty level) will receive assistance in paying for premiums, although they will have to contribute within their means. It's a fair system IMO.

The act also makes it easier for smaller businesses (50 employees) to offer health care coverage via the same exchanges as well as help wit subsidies from the government to help reduce their premium costs), where previously they had no such option (all or nothing type of situation).

As to Larry, his statement speaks volumes about the disconnect of the rich from the poor. Prior to health care reform, admitting you had a pre-existing condition virtually guaranteed you would never find coverage, or that such coverage would be excluded with a rider to your policy, making coverage largely pointless for those with a condition requiring regular treatment.

Source: http://rss.slashdot.org/~r/Slashdot/slashdotScience/~3/yHgR7OIuIQQ/story01.htm

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