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David: Speaking, by the way, of health insurance and not having sold it properly, there's an
incredible cycle of logic going on which just confirms the corruption and the disaster that
is the for-profit health insurance system. The nation's major health insurers are heading
into yet another year of record profits, OK? Why are they collecting record profits? Well,
the recessionary mindset that has been taking place has made it so that people are choosing
overall, in great numbers, they're opting out of treatments that include significant
copayments and expenses.
So what do we have? Insurance companies still collecting premiums from more and more people,
especially after the Obama health insurance reform bill has passed, yet people are not
actually collecting, in other words, payments are not being paid on many of these procedures
where the insurance company would take part and the insured would pay part, because people
are saying things aren't good, the economy's not good, I'm going to hold off on this.
That part makes sense, right? But what's the next step? Insurers are saying well, as we
start to come out of this recessionary mindset and the economy continues to improve, people
are going to actually start getting those procedures done. That makes sense to me too.
Louis: Right.
David: So what are insurers doing? They're saying well, we have to start raising premiums,
because people are actually going to start using their insurance. And this really proves
what is the goal of these for-profit insurers? It is not to pay benefits.
Louis: It's profit.
David: It's to collect premiums. Insurance companies are in the business of collecting
premiums, and if they have to pay out some benefits along the way, they will reluctantly
do so. So it's amazing. It's like using health care is a bad habit, like smoking or doing
drugs. Health insurance companies, predicting people will be using their benefits, have
to start raising their premiums after making record profits because people were not using
their benefits because they couldn't afford to.
We're not in good shape, ladies and gentlemen. United States, only country at our level of
development that does not yet have a national health care system, systems which you will
be told time and time again by front groups and Republicans that will not work, but you
know what? If it wouldn't work, then we wouldn't be seeing resistance in Vermont. Let it fail.
Let it happen and fail if you are so sure it will not work. We know why that's...
Louis: Well, there's opposition because the insurance companies know that it's going to
work.
David: No question about it. Let's take a break. If you're on Twitter, go to www.DonateYourAccount.com/DavidPakmanShow.
Let us Tweet using your account. It'll help the show. www.DonateYourAccount.com/DavidPakmanShow.
Back after this. There's been a baby named after Facebook's Like function. Reminds me
of that "Seinfeld" episode, you know which one I'm talking about.
Louis: Oh, yeah.
David: Back after this.
Announcer: The David Pakman Show at www.DavidPakman.com.
Transcript provided by Alex Wickersham and www.Subscriptorium.com. For transcripts, translations,
captions, and subtitles, or for more information, visit www.Subscriptorium.com, or contact Alex
at subscriptorium@gmail.com.