Principal lays off 1500 as it drops Med Insurance company

[CADsortaGUY]

The medical business continues to be one that undergoes rapid change, which would mean investing additional capital into the business to be able to offer competitive products. For us, that just does not make sense.


Nothing like a bit more hopey changey news. Seriously though - who didn't see this sort of thing coming? It's going to drive out competition and create more mega insurers due to the fresh set of stifling requirements.

 

[rudder]

obamacare is the first step in complete government run healthcare. By design it will put a lot of insurers out of business. Eventually they will all be selling supplement insurance for trips to India for knee replacement surgery. Operations like that won't be available from the government.

 

[ayabe]

Yeah let's hear your alternative. Oh yeah the state lines things, great then all the insurers can move to MS or whatever hillbilly state has the least regulation and fuck us even more.

It's a done deal, you lost and overall it's a net win for the American citizen.

 

[swerus]

That remains to be seen ayabe. One thing for sure its not good to be in the health insurance business.

 

[her209]

So Principal is going to be collecting premiums up until HCR goes into full effect. Niiiiiiice!

 

[sactoking]

Yeah let's hear your alternative. Oh yeah the state lines things, great then all the insurers can move to MS or whatever hillbilly state has the least regulation and fuck us even more.

It's a done deal, you lost and overall it's a net win for the American citizen.

Ummmmm, yeah, insurers are regulated by the states in which they do business, not by the states in which they are domiciled, so, ummmmm, yeah, you failed there.