2 Responses to “Why Are The Markets For Health Insurance So Much More Price Competitive Than The Markets For Medical Care?”

1. 

   mbrcatz said on Saturday, October 10, 2009, 19:31

   Insurance companies are very pro active and innovative in many ways as the competitions are stiff, they have to innovate and give us more options.
   On the other hand the ratio of population vs medical staff remain high. But insurance companies won’t need to hire more staff in proportioned to the population growth. They just need to print more policies and increase their potfolio which all handle by computers.
   Medical care still need human touch
   loihl@einsuran.com
   Malaysia Health Insurance
2. 

   Insuranc said on Saturday, October 10, 2009, 22:52

   Each state has a governing body, (in my state it is the Arizona Department of Insurance,) that must approve all premium rates. They do not set the premium rates. Competition comes into play when comparing policies for coverage and benefits, allowed amounts, (the negotiated rate between insuror and provider,) company reputation, etc.
   If I were in the market, my first step would be to contact the local department of insurance. Inquire about the amount of business the company has done in the past, the number of complaints, how long they have done business in your state, and the agent as well. Also important, in my view, is whether the company is for-profit or non-profit. Most Blue Cross Association plans are non-profit, allowing for more of the premium dollars collected to go toward benefits such as preventive care.