I've mentioned before that I have worked in banking, on the branch level, since shortly after graduating from college. My degree is in economics and my entire adult life I have dealt with economics on the most micro of micro levels. With that in mind, I have a question. If YOU were told that YOUR financial institution was operating with an eighty-five percent LOSS ratio, would you trust that institution with your money? No, of course you wouldn't. Common sense tells us that no institution can operate with that level of loss. Profitability is important to you and I because it is a good measure of whether or not an institution will be there for us if we need it. So, would you expect that YOUR medical coverage would remain unchanged as President Obama promised, if the company providing YOUR coverage is forced to operate at an eighty-five percent loss ratio?
H.R. 3962, PelosiCare, that was passed by the House last night, mandates that insurance companies operate at an eighty-five percent loss ratio. Doug Ross breaks it down: PelosiCare's price controls will bankrupt health insurers in one year. That's it, folks. Just as your financial institution can not survive while posting an eighty-five percent loss ratio, neither can your health insurance company. You know that and so does Nancy Pelosi and President Obama. This provision was inserted in to H.R. 3962 specifically to bankrupt our insurance companies and to force Americans in to the public option.
Read Doug Ross's piece. It shows "you can keep your health plan" as the lie it is.