Health Care Reform and Your Insurance

August 5, 2010

Health Care Reform and Your Insurance

Larry Bofman (Phoenix, AZ), LUTCF, Insurance Agent and radio talk show host. "Evaluating Obama Care."

Sharon Kleyne noted that proper diet and a healthy lifestyle can save your life and is far less expensive than medical care. She advocates a "business plan for life" to get people more proactive about their personal health.

According to Larry Bofman, the primary issue in health care is cost, which directly impacts insurance rates. Rates will not decrease until medical costs decrease. And government subsidy of insurance tends to drive costs up, not down.

On the other hand, Sharon Kleyne noted, insurance companies are mostly publicly held and in business to make a profit.

Under Obama Care, 45 million more people will be able to get insurance, insurance will be available for many more preexisting medical conditions and parents may carry their children on their insurance up to age 26 rather than 24. These are all excellent ideas but paying for them requires either massive government subsidy or increased insurance rates.

Larry Bofman is opposed to "single payer" national health insurance. He believes that competition and a free (or freer) market will ultimately drive rates and costs down. Insurance cannot be profitable unless costs are reduced, especially under current regulations. Mr. Bofman does not object to a reasonable profit as long as claims are paid. Again, the key is to reduce costs, duplicity, fraud, needless overcharges, and waste.

Sharon Kleyne is concerned that there is no unifying business plan for government intervention in insurance. It is merely a potpourri of random ideas tossed into a giant 2,000 page hopper. While many things need to be fixed in the present system, overhauling the entire system is not the answer. And everyone's needs are different.

The goals of Larry Bofman's radio talk show is to advocate for individuals to help them navigate the insurance maze and avoid rip-offs. There is a better way.

Larry Bofman's website: www.yourinsurancematters.com.