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Who owns insurance companies?

July 6, 2017

The Oregon legislature just solidified its position as an abortion on demand state when it passed legislation requiring all insurance companies to cover abortion and all facets of so-called women’s health issues, according to this report by ABC News Go.

The issue of importance here is not the abortion issue, per se.

It’s about a government entity telling a private company how to conduct its business, solely on political grounds.

If this bill is signed by the governor, it will prevent both government and private insurance companies from assigning any of the costs for anything remotely related to “women’s” health to deductibles or co-pays, and requires them to cover the costs in full, regardless of income, among other things.

This includes diagnosis and treatment of gender neutral ailments such as sexually transmitted diseases and breast cancer screenings, both of which can be found in males too.

What if insurers simply say “Fine. We just won’t offer coverage in your state.” as their answer to this edict?

Is it right for a state to potentially deny all of its residents access to insurance to make a political point?

Of course the companies will weigh the overall revenues they can gain against the government’s legislation, but conceivably Oregon could find itself without any insurers at all.

The other side of this are the stockholders, since many insurance companies are publicly traded.

Some owners of the shares will be against the company acquiescing on moral grounds, while others may not see the level of returns or value in the stock if the state can dictate coverage to the company.

Again, the issue is not abortion in and of itself.

It’s the political takeover of a non-governmental entity purely for political reasons, and that should worry us all.

From → op-ed

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