Better yet, allow the punitive damages to be assigned by the judges based on the severity of the case and then placed in a public fund to support better health care for those who have a hard time getting it...doctors who screw up should not be able to walk away with a slap on the wrist...at some point it should be OK for bad doctors to have to close up shop...trust me, there will be more to take their place.
Health care is probably the second most regulated industry next to nuclear power. Each state puts regulations into effect setting how much money an insurance company makes in their state. This usually comes in the form of putting minimums on a company's loss ratio (claims paid divided by premium earned). When you take those minimums into account, and add in a company's general expenses, as well as the commissions they have to pay the insurance agents, the insurance companies probably only make 2%-5% in a given state. That should be closer to the 2% mark in Minnesota. That's one of the stricter states.
In other words, the reason that your insurance costs go up is because heath care costs more, not because insurance companies want to make more per person. Pretty much the only way the insurance companies can make more money is by selling to more people. The states don't allow insurance companies to raise rates indiscriminately. In fact some companies have had to stop selling in some states because the state won't let them raise rates enough to keep up with the rising cost of health care.
Poult, Milwaukee is one of the worst cities to be in right now in regards to health care costs. They're rising at an extreme rate. I tend to blame Aurora Health Care for a bunch of that. Since you live in the brew city, you probably live near an Aurora Health Care facility. They're springing up all over the place. Did you know that they are a non-profit organization? That sounds noble. A non-profit heath care organization. However, they've been adding million dollar atriums, and building new facilities to get rid of their profit, instead of lowering prices. Therefore the costs in Milwaukee keep going up, as other facilities add these features to keep up.
I don't say they're entirely to blame, but it is an example of the real reason behind the rise in health care costs. Consumers never see the true cost of the services they buy. They get a cold, and pay a $20 co-pay to the doctor so the doctor can tell the patient that it's a cold. They never see the $500 the doctor charges the insurance company for that visit.
People tend to say that they want nothing but the best when it comes to there health. That's understandable, but the best costs a lot now. There needs to be a limit put on punitive damages in malpractice suits, so the doctors can afford to charge less. And there needs to be regulations regarding up-front disclosure of the costs of services rendered at health care facilities so that consumers can make educated choices to keep their health care costs, and therefore their insurance premiums, down.