To say the Affordable Care Act micromanages the health insurance industry
is an understatement.
It tells insurers how much of every premium dollar must be paid out in the
form of health care. It requires insurers to accept all applicants regardless of
pre-existing conditions. It has removed lifetime policy limits. It has expanded
coverage for preventive care. It has defined minimum “essential benefits” at
levels ‘richer’ than most health plans in the current market. I could go on.
These are all popular and arguably much needed changes.
But they remind me of the promises of prosperity in the Hoover years. We
best move on rapidly to the task of reforming health care, or history tells us
how things may turn out!