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Politics : Formerly About Advanced Micro Devices
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To: Joe NYC who wrote (112025)5/23/2000 9:20:00 AM
From: Amy J   of 1575173
 
OT RE: "There always is the other side"

The other side to the picture are cost and gains. You weren't implying that I did not know that?

Cost (money out) and lobby money (money in). The insurance industry is somewhat closer to the government than the other group I had mentioned, so let's focus on tangible costs rather than intangible lobby money.

Let's look at the cost on a current heath reform Bill that went into law on May 1st.

On May 1st, a federal law went into affect which makes it illegal for insurance carriers not to cover diabetes and several other illnesses. I'm told, the total cost that the insurance industry estimated for this (for both the insur carrier and the company) is on the order of .04% (or was it .004%?) of the health premium. Some insur companies may pass this .04% cost directly to the company, some may absorb the cost. Employee/community/public gains are very significant for only .0004 * payroll.

Companies no longer have to worry if a newly hired employee is rejected health care because they have diabetes, because this law (which went into affect on May 1st and applies to all insurance plans, even those created before May 1st) forces all health care companies to legally provide for this coverage after the legal pre-existing condition duration. If a company had an employee with diabetes, one might assume this employee would be more productive at work if they had their illness covered, and for .0004*payroll, business are willing to pay that cost.

Amy J
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