Judging Too Soon Can Be Misleading

Too often things are latched onto by the media before all the facts are in.


This week, articles blasted health reform -- claiming hourly workers at MacDonalds would loose their mini-med plans due to the fact that the carrier claimed to not be able to make the 80-85% medical loss ratio (or conversely, they spend more than 15-20% on administrative costs, (including executive bonuses).


"Horrors!  It's due to that health reform bill, we knew it would have bad effects." said the ever-present critics.


Step back a moment. 
Maybe the hourly workers aren't getting a very good plan. 

In fact, the next day, that was the judgement.  The workers weren't getting much for the hard earned money they were paying -- in good faith that their employer was offering something worthwhile.
In fact, they were paying over $700 dollars a year for coverage that maxed out at $2000.

So health reform isn't to blame, and in this case is a good thing -- and plans like these should be investigated.  They are either inefficient, or someone's making too much money. 

If they had car company reform back ten years ago, maybe the car industry wouldn't have been in such a mess.  And if any oversight had been applied to the investment community, maybe the banking system wouldn't have been near collapse. 

In a perfect world, we wouldn't need government oversight.  But you see, it isn't a perfect world.

all the best,

Tracy

Links to articles on mini-meds:

To read more:
http://money.cnn.com/2010/10/05/news/companies/mini_meds_insurance_mcdonalds.fortune/

Article on the GOP and lobbying against regulations:
http://www.latimes.com/news/nationworld/nation/la-na-health-politics-money-20101005,0,4869233.story