Opportunities Arise in the New Health Insurance Industry

Monday, 18 Mar 2013 03:54 PM

By Denis Kleinfeld

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Congress loves forms.

More forms translate to a bigger bureaucracy and an opportunity for Congress to create even more opportunities to get campaign funds and constituent votes.

Just look at the tax code.

An industry of monstrous proportions exists just to service all the areas of income tax. With each new tax reform act, the governmental bureaucracy, the private tax service business and international organizations grow.

Well, as the old saying goes, “you haven’t seen anything yet.”

Obamacare arose from some 2,700 pages of legislation creating 120 or so new agencies and commissions. Regulations already exceed 20,000 pages.

Two new forms have been borne by Health and Human Services. A draft form of 15 pages comprising 21 separate steps will allow applicants to find out whether they will be qualified for federal benefits.

A second form, which also is still in draft form, is 60 pages and is needed to determine the amount of financial assistance the government will provide.

Three different agencies, including the IRS, will need to review the forms.

When that is all done, then comes the picking the insurance plan.

That will take another army of bureaucrats and private professionals (who understand all the insurance jargon) in order to ensure that a choice of health insurance plan can be made.

The spectacle unfolding is nothing less than a 21st century gold rush. Billions of dollars are yet to be carved up. Billions more will follow like some perpetual growing annuity.

Do you expect that any of those in Congress are going to actually fulfill their anti-Obamacare rhetoric?

Those who think so must also believe in Santa Claus and tax reform.

Obamacare has the potential to be an industry like no other ever in the world.

Everybody in the United States will be required — mandated — to have health insurance. That’s not just a big market, it’s the biggest.

From a political point of view, it represents nearly an endless supply of campaign contributors and voters with most of the promotion and marketing expenses paid by all those making money off the deal.

It just doesn’t get much sweeter than this.

The exceptions to all these benefits are, of course, those who really need healthcare and the medical practitioners.

If history teaches us anything, it is that whatever the government does, it does badly.

Just look at the tax code. The government has had 100 years to perfect the system, yet as we approach April 15, we recognize that it is, to be kind, failing badly.

What can be expected from the creation of a national healthcare system run by the same politics, governmental bureaucracy and private service industry?

Now that Obamacare has been created, neither Congress nor any future administration will let it die. Too many people are going to make an awful lot of money, or getting elected, from it, so all that will happen is a call for “reform.”

Becoming part of the Obamacare industry looks to be a once-in-a-lifetime opportunity to get on the gravy train.

There is money being made now, and even as Obamacare fails, there will be even more money to be made.

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