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Insurers Have No Problem With Ending the Neoliberal BAILOUT of the Health Insurance Industry

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One mistake shared by both some wonky defenders and lefty haters of the ACA is the idea that health insurance interests would like it. But, in fact, they spent tons of money opposing it for a reason:

The major health insurance companies made a tactical decision to work with Republicans on their plan to repeal and replace Obamacare rather than lobby to stop it.

That bet seems to be paying off in some important ways, based on the bill the Senate released Thursday, though the GOP’s plan to overhaul Medicaid is still a concern for the industry.

“It’s positive for health insurers,” the analysts at Capital Alpha, which track health policy for investors, said in a review of the Senate bill. They cited the bill’s guaranteed payment of the Obamacare subsidies and the short-term stabilization funding.

Grow said AHIP was not opposing or supporting the legislation for now because it was still reviewing the plan. But she emphasized that both pieces — changes to the private insurance market and to Medicaid — were important to health insurers.

What too many people failed to grasp is that while the ACA provided money to insurers, it also passed regulations that required insurance companies to ensure anybody who applied and required that insurance to actually cover things. Allowing companies to sell people worthless insurance or just not insure unprofitable customers is a better business model. The AHCA will immediately allow the former and allow more of the latter over time. So of course insurance interests are fine with it.

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