McCain Draws Fire for Health Reform Modeled on Banking Deregulation

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clipped from blogs.wsj.com Paul Krugman, op-ed columnist and blogger, at the New York Times, riffs on an interesting piece on health-care reform by John McCain in an obscure, to us, journal for actuaries. In the current issue of Contingencies, McCain makes his case for a freer market for health coverage by arguing that insurance would benefit from the same sort of deregulation that has led to innovation in…wait for it…banking. The money quote from McCain, as noted by Krugman: Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation.