Patient Protection and Affordable Care Act

That’s an interesting title, isn’t it?

After living with this bill for three months since it’s passage in March 2010, I’m certain that it doesn’t protect many patients and it certainly has nothing to do with affordable care. The bill merely expands federal regulation of medical insurance, usurping a role that has been performed by the states since the industry began. It also establihes a new set of entitlements with woefully inadequate provisions to pay for them. Finally, it establishes a new set of rules for private medical insurers that will drive many carriers out of the business, significantly increasing the likelihood of a federal take-over of the industry.

Despite all of these problems, it is the law of the land, and we must find ways to deal with it. My clients and I are nearly over the shock that the bill was passed in the first place, and we are now beginning to develop strategies. I will share thoughts on these strategies over the coming weeks.

Jeff Miller
Consulting Actuary


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