State Regulated or Federal Regulate Insurance

The Insurance industry is very heavily state regulated. According to the Government Accountability Office (GAO) study, the state run regulatory system is Federal verses State Regulation protecting the markets, insurance industry and policy holders and was evidenced during the financial crisis of 2008-09. The insurance business is highly profitable. “Well-run companies can make a lot of money, which breeds competition” from both “inside and outside competitors” (Property, 2013). Insurance companies

Background The federal government’s role is in regulating industries is to protect consumers and the market. There is an ongoing debate on whether the federal government should regulate the insurance industry as a result of the bailouts stemming from the Financial Crisis of 2008. Currently, state governments regulate the insurance industry. Proponents of federal regulation reason that states are inefficient in the duty of insurance regulation. Additionally, the federal government has economies of

on insurance coverage in the United States. According to Webster’s Dictionary, “insurance is a practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium.” The statutory power to regulate the business of insurance comes from a 1945 ruling by the U.S. Supreme Court that prompts Congress to enact the McCarron-Ferguson Law giving individual states the power to regulate the

has burst in both sides of the Atlantic in 2007, the regulatory system has failed not only to effectively manage the risk, but also to require sufficient transparency and emphasized the vital importance of a well-regulated financial system. As a response of the crisis, the United States launched the most powerful financial regulatory reform plan in the U.S. history since the 1930s: The Dodd-Frank Wall Street Reform and Consumer Protection Act (‘the Dodd-Frank Act’ or ‘the Act’). The new regulatory

opinion of Justice BINDEROFF: According to Article I, Section 8(3) of the United States Constitution, Congress is granted the power “to regulate commerce with foreign countries, as well as among the several states…;” this enumerated power is what the Commerce Clause describes. This Article has been used to justify many instances in which Congress has exercised its power to regulate commerce, especially among states. In this regard, there has been a myriad of instances in which such exercise of this

problematic institution for the United States over the last several decades. Particularly private companies have been the main cause of high premiums and the denial of coverage for the previously ill. In attempts to remedy these issues congress in conjunction with the President of the United States Barack Obama signed the Patient Protection and Affordable Care Act (PPACA). The PPACA is a federal state that focused on the reformation of the private health insurance market, provide better coverage for

"A well-regulated Militia, being necessary to the security of a Free State, the right of the people to keep and bear Arms, shall not be infringed." (The Second Amendment of the U.S. Constitution). As Americans we are afforded certain rights that are upheld by the United States constitution, and many citizens believe these rights to be part of our nation’s heritage, or the “birthright” as Americans. Conversely there are those which are opposed to some of these “birthrights” which were added to

The United States of America is the most prosperous and free country in the world because of hard working citizens and the God-given freedoms we possess. America has contributed countless scientific and medical discoveries and accomplished feats deemed impossible by others. The wealth and progress in this country was not brought about by government intervention and supervision, but from individuals who had the freedom to do what they did best. Because of this freedom, America’s healthcare is currently

2010 attempts to reform US Health Care (Amadeo, 2017; Cutler, 2012). Though PPACA does not rise to the challenge, health care is an admirable task to assume. Those who buy insurance together with the company significantly influences PPACA’s success. Its fault includes the Medicaid expansion, the taxing setup, health insurance cost for employers and the non-insured persons and questions about its constitutionality. Healthcare cost is a major problem today. Due to financial problems, many Americans

to state governments during the Constitutional Era was so strong that the Constitution would have been defeated Central government was facing difficulties People were too dispersed and communication and transportation was not strong enough to allow governing from one location The Division of Power The Framers defined the powers of state and national governments Although they favored stronger national government, they still made the states have an important role Constitution guaranteed states equal