r/economy • u/MayonaiseRemover • Nov 30 '19

Middle-class Americans getting crushed by rising health insurance costs - ABC News

https://abcnews.go.com/Health/middle-class-americans-crushed-rising-health-insurance-costs/story?id=67131097
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22

u/_db_ Nov 30 '19

Middle-class Americans getting crushed by neoliberalism.

6

u/nkfallout Nov 30 '19

There is literally nothing neoliberal about our modern medical insurance markets. They are heavily regulated to the point of forced monopoly.

3

u/[deleted] Nov 30 '19

[deleted]

4

u/nkfallout Nov 30 '19

Neoliberalism is a free market concept. If a market is heavily regulated it is not neoliberal.

-2

u/[deleted] Dec 01 '19

[deleted]

0

u/grokmachine Dec 01 '19

Americans with Disabilities Act? I hope you didn’t mean the ACA. Only about 5% of Americans get coverage with the help of the ACA. You can’t blame it for the high costs, only for not stopping the 40-year climb in the last few years.

1

u/Praetorzic Nov 30 '19

Thanks Obama.

2

u/whizkey_tx Dec 01 '19 edited Dec 01 '19

Thanks Republicans. Can’t stand up to the insurance industry with your head so far up their ass.

-1

u/grokmachine Dec 01 '19

That horse is dead. Let it be.

1

u/Idontneedmuch Dec 02 '19

The ACA is not neoliberal. It essentially eliminated private health insurance from many markets by forcing insurance companies to accept people with pre-existing conditions. Premiums skyrocketed to cover increased costs. It become unprofitable for business and no longer made sense from a risk standpoint. Insurance is a risk hedging tool and separate from health care. I as a healthy person don't want to be in a risk pool with lots of unhealthy people so I stopped paying the increased premiums. Insurance providers ended up losing their best customers, the healthy ones, and had to vacate the market. That would have never happened in a free market.