I have been reading up on the issue of Tort Reform and found a quote (can’t remember where) showing the aggregate cost of medical related claims to the insurance companies. The information claimed that the impact of these claims on insurance rates was not significant.

The REAL cause of raising premiums was deemed to be the slumping stock market. The “slump” certainly found its way into the premiums. I am not sure that the 2003 stock market improvement did the same. Heard the other day on MSNBC that Safeco had record earnings for 2003.

Tim Sheldon wanted (election year?) opinions from his constituency about Tort Reform — among other issues — (to halt spiraling medical costs). My concerns are:

• That the impact on medical costs may be not be significant;
• That affected consumers will no longer have legal representation if the effort is not worth it to the legal profession (only one in four cases brings a settlement. The average attorneys fees are 40 percent and the average settlement to consumer around $110,000);
• That, whatever savings accrue to the Insurance Company from this reform will not be passed on to the Medical premiums;
• That, even if some savings are passed on to the doctor’s premium, that they will not pass it on to the consumer.

   It would help to verify what the impact of Tort Reform actually is on costs and premiums — and then build something into the legislation that the cost savings are actually passed on to the paying public.

Keep being “combative” !!!

Klaus Golombek
Bremerton