Obama and the Health Care Summit...All Roads Lead To "Public" Option

If passed, President Obama's Healthcare package would eventually lead to the public option, sneakily through the back door.

According to the National Center for Public Policy Research, the proposed plan would almost guarantee insurance companies would "go under" leading to government takeover of the entire industry.

From today's press release:

* The President's plan would create a new federal agency charged with monitoring health insurers to make sure that proposed premium increases are not "unreasonable" or "unjustified." This agency could compel private insurers to lower premiums, offer rebates or "take other actions to make premiums affordable."

* The President's plan would also dictate that health insurers cover those with pre-existing conditions and saddle them with billion in new taxes and fees.

* Health insurance is one of the least profitable industries America. In terms of profit margin, in 2009 it ranked a dismal 87th out of 215 industries; their overall profit margin was a mere 3.4 percent.

* The President's proposed combination of new taxes and price controls would cause a wave of health insurer bankruptcies, devastating the industry and reducing health insurance options for consumers.

* Eventually, the shrinking pool of private insurers would force the government to enact a single payer system to provide the insurance that Congress mandates that all Americans have.

Read more by analyst Matt Patterson here.