You want to be the most profitable health insurance outfit in the world? I mean, really smoke the competition? Grab huge market share while slashing your advertizing budget?
SUPPORT THE PUBLIC OPTION!
You ask me why you would do that, right?
Because you know the truth. It's an option. And it probably won't be that great of an option for anyone who can afford well-structured plans from your company.
Any public option that passes will be low or no frills, almost by definition. It will include fairly high co-pays for all but essential treatment. Yes, a lot of people will opt for it because they cannot afford anything else, God bless them. Lets face it, these are not your high-profit customers anyway. Why be hated by a majority of Americans just to keep customers you don't make much money from anyway?
There are a lot of Americans who support the public option. A LOT! There are a lot of Americans who support President Obama. A WHOLE LOT! Here's the big secret:
A LOT OF THE PEOPLE WHO SUPPORT THE PUBLIC OPTION WOULD NOT THEMSELVES TAKE THAT OPTION.
If ONE insurance company comes out in support of the public option, who do you think these people will naturally gravitate to?
And businesses? Yes, right now we're in a recession... a bad one. But soon we'll be out of that recession and businesses will be competing for the best employees. They'll do that by offering health insurance with a few perks... NOT the public option. They'll choose you. America's Insurance Company. The insurance company that broke away from the pack, acted in America's best interest and supported the public option
Yes, there's a downside. You'll need to skip the conventions and maybe even find a different country club. The rest of the insurance industry will hate your guts. I mean, they'll really despise you. But you know what? They're your fucking competition! Not the public option! THEM! The other insurance companies!
Think about it.