For-profit corporations have a duty to maximize profit for their owners. They do this by providing products and services, and as a side-benefit to the society, create jobs. We rely on them to provide some but not all the services that society needs. There is a good reason for relying on them for some services, and not relying on them for other... For some companies maximization of profit is strongly correlated with maximization of the quality of services they provide. In ideally liquid markets this also minimizes the prices for these services. In less then ideal liquidity markets this is not so. In the case of the medical insurance companies, profit maximization is correlated with the amount of insurance they reject to provide, among the other factors. To the extent this is so, the whole industry is set on a wrong premise and has wrong incentives built into it. As such, it should live or die based on its ability to survive in the market in which one of the players is a non-profit universal health care “corporation”, and in which it is illegal to reject the coverage based on a precondition.
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