AP:
The stocks of several health insurers performed better than the broader market Thursday. Shares of Cigna rose more than 5 percent, and Humana Inc., WellPoint Inc. and Aetna Inc. all climbed at least 2 percent.
...
Health care reform without a public option "would be fantastic" for insurers, said Robert Laszewski, president of Health Policy and Strategy Associates, a Virginia-based health care consulting firm.
"They're going to get millions of new customers and more than a trillion in new premiums over a 10-year period," said Laszewski, a former industry executive. "There's a reason they aren't running any negative ads."
This article is yet another reminder that there's a reason why private health insurers just love Max Baucus: his plan would give insurers millions of new customers, all forced to buy insurance industry products or face a fine of up to $3,800.
Under the Baucus plan, nothing would force the industry to compete for these new customers. Industry would effectively hold them hostage. The only proposal that's out there to provide the competition this system needs is the public option, and without it, the public will be held hostage to the whims of the private insurance industry.
The problem here isn't the notion of a mandate. A mandate -- or something like it -- is an essential part of reform because it requires everybody to take responsibility for the risks they impose on the system. But when the mandate forces people to buy private health insurance without offering an alternative, you have a situation that is untenable, and would quickly turn into a monumental political disaster for the Democratic Party.
The upcoming days and weeks will be the biggest test so far as to whether progressives in the House and Senate will be able to stick together to achieve meaningful change -- or whether they will simply roll over and cave once again to the special interests who own senators like Max Baucus and Kent Conrad.