It gives the insurance companies all of the power to decide if you get treatment or not. That's the real issue, insurance companies shouldn't have a say. If they don't make any money, then get out of the business.
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I am concerned that this will turn into a post-authorization nightmare, e.g. hospital stay is denied after the fact — or just never approved to begin with, chronologically out of order due to response times — leading hospitals to ask for shit like deposits or credit checks. Capitalism will just shift “the burden” of patient care elsewhere. The next four years sure won’t reform anything either.