Nothing that’s legislated is perfect, and in my view the good that will come from passing health-care legislation outweighs the bad. But be warned: The pending House bill (that will go to the Senate for a “reconciliation” vote) does not repeal the antitrust exemption for health insurers, nor does it contain a public insurance option. It thereby will allow health insurers to continue to consolidate into even larger entities, gain as much market power as they can, and charge ever higher prices. Yet Americans will be required to buy health insurance from them. Assuming the bill becomes law, this dissonance spells trouble. It will have to be addressed before 2014, when the bill takes effect.
— Robert Reich
