Health Insurers Go To War Against Reform After Watching Their Stocks Get Crushed

While a robust public option still looks like a longshot when it comes to healthcare reform, you could argue that that labour Day weekend was the peak in terms of anti-reform sentiment.

Remember, that was the final few days before Congress came back from a summer of wild and raucus townhall meetings. Despite the intensity of those meetings, healthcare reform has not yet been killed. And since then, health insurers have been killed, even as the market’s gone on a killer rally.

Nate Silver put together the following table, showing much they’ve each been whacked.

It’s for this reason, notes Silver, that the insurers have now put out a report arguing full-throatedly against reform, warning of possibilities that it will raise costs.

Here’s the industry’s summary of the report, via TNR:

The report makes clear that several major provisions in the current legislative proposal will cause health care costs to increase far faster and higher than they would under the current system. The report finds that the proposal “will increase premiums above what they would increase under the current system for both individual and family coverage in all four market segments for every year from 2010-2019.

For example, the analysis shows that the cost of the average family policy is approximately $12,300 today and will rise to:
–$15,500 in 2013 under current law and to $17,200 if these provisions are implemented.
–$18,400 in 2016 under current law and to $21,300 if these provisions are implemented.
–$21,900 in 2019 under current law and to $25,900 if these provisions are implemented.
In fact, between 2010 and 2019 the cumulative increases in the cost of a typical family policy
under this reform proposal will be approximately $20,700 more than it would be under the
current system.

And here’s the full report.

PWC Report on Costs – Final

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