The insurance companies hold a two sided, and very particular position when it comes to the health care reform. When the health care reform was in its infant stage, and just newly announced the insurers opposed the health care reform, mostly because when the health care reform is fully place the insurers would no longer be able to deny coverage for preexisting conditions. Another down side for insurance companies was the, minimum level of benefits that each insurer needed to provide in their plans, but a positive aspect to this, they could charge more for these plans. This was to be put into place with the start of the exchange.
“The bill requires that insurers provide a certain minimum level of benefits in the health insurance exchanges that individuals and small firms must use to buy coverage, beginning in 2014. That should help carriers because they can charge more for mandatory benefit packages than for the catastrophic plans that they often sell in the individual and small-group markets.” CBSNEW.com
Insurers has been providing coverage for many, many years. The health care reform does have some new changes to put into place, and this can be an issue for companies who have been doing the same thing since they began hundreds of years ago.
Insurers have relied heavily on government funding for products like, Medicare. It is said that there will be a large cut in government payments and many insurers, who have their foot in in that door, will feel this hit more than others. Many insurers may have been on the opposing side of the health care reform, but that was only the short term thinking of some. As the health care reform develops and we get closer, many of these opposing companies will show their opposite point of views.
It may have been difficult for health insurance companies to start over and create new products that are needed to participate in the