Notes

health insurance companies in alaska
Taking A Look At The Position Of The Alaska Insurance Commissioner
The Alaska Insurance Commissioner has some excellent advice. In fact, he offers up the same types of words and phrases time and again in his annual state of the insurance industry to address. He reminds us again, "Insurance is not a business." He tells us again, "Risk cannot be eliminated." And he tells us again that it's up to the insurance companies themselves to determine what "risk" means, as it relates to their products and services.
That may be fine. I am a big fan of the insurance commissioner's approach. After all, I think it's one of the things that keeps insurance so profitable and competitive. Insurance companies can always adjust their risk assessment systems to find new and different ways of minimizing the inherent risk inherent in their products and services. They're also well within their rights to charge you more if you opt out of their blanket "risk" category-unless, of course, you happen to be a very generous person!
However, the insurance commissioner also goes overboard when he claims that the insurance companies are just plain lazy. For example, he says, "Insurance companies will not voluntarily change their underwriting rules." Now...I would submit to you that it is only a lack of willingness on the part of these so-called lazy guys that keep insurance companies afloat. I would submit also that it is also a lack of willingness on the part of these same lazy guys to charge high enough premiums on their products and services that they eventually go out of business.
Let's say for argument sake that they were really lazy...and decided that all they needed to do was meet the minimum "risk" criteria. That would keep them in business right? So, what if they met the criteria, but then went out of business because they couldn't keep doing what they did? They'd still be in business, right? Wrong...
See, there is also the state's inability to levy sufficient revenues. They have experienced many tax increases over the past couple of decades. Many were required by the voters. But the rest was left up to the legislature. The legislature passed an enormous number of corporate welfare programs that absolutely jack up the cost of insurance without any corresponding increase in coverage or benefits.
In short, we have a group of folks in the state capitol who are totally disconnected from reality and don't seem to care about helping the public at all. Instead, they seem more interested in lining their own pockets with as much money as they can get their hands on. If they had any sense, they would start charging risk fees and start treating their clients with a little more respect. But apparently this isn't enough. This is why Alaska is facing a very dire future because the "trust" that these individuals had with the insurance companies has been broken.
It appears that these same individuals who were supposedly working diligently to make sure that Alaska was "risk-free" have now single-handedly weakened the insurance companies that they regulated. T here is simply no way that these "careers" have been able to keep costs down so low for all of the people that rely on them. Maybe they should spend some time watching a news channel from Switzerland and learn a little something about how international economies work before getting back to work. As it stands now, it appears that the state is doing everything it can to risk-limit the risk that it takes on its businesses.
That doesn't mean that the state needs to stop regulating insurance. But it means that the insurance commissioner needs to take a close look at the job he's been doing. After all, the insurance commissioner has the ability to rewrite the laws and regulations for insurance in Alaska. The problem is that many of these regulations make the insurance industry in Alaska much less competitive. The result is higher prices and less money being funneled into the pockets of the average consumer.
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