Health Insurance Companies making Record Profit

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Zorkorist

Diamond Member
Apr 17, 2007
6,861
3
76
Our Government is going broke.

Our Government mandates that a person carry insurance.

The people are growing broke.

Lawyers thrive.

'nuff said.

-John
 
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Zorkorist

Diamond Member
Apr 17, 2007
6,861
3
76
US system is by far the least efficient in devellopped countries..

http://en.wikipedia.org/wiki/Health_care_compared#Cross-country_comparisons

Take account that in others countries, everyone is covered...
Who is not covered in the US?

Everyone, including illegal alliens, is covered in the US.

Health care is national here, but, currently it is not at the penalty of children.

It's at the penalty of Hospitals, and other people in the Health Care Industry.

They have no problem, providing health care to all that come, because they know they can bill the Government or Insurance companies.

And they enjoy health care; This is what they do.

-John
 
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Zorkorist

Diamond Member
Apr 17, 2007
6,861
3
76
It's only lawyers, insurance companies, and Government, that screw up the equation between people that have, and people that need.

-John
 

Zorkorist

Diamond Member
Apr 17, 2007
6,861
3
76
From those, according to their ability, to those according to their needs.

Is not what OUR country was based on.

-John
 

Zorkorist

Diamond Member
Apr 17, 2007
6,861
3
76
But it seems like it is where we are today.

Once you mandate insurance, then there is very little humanity left.

-John
 

Abwx

Lifer
Apr 2, 2011
11,056
3,712
136
Poviders of health services are not cost efficient compared
to other OECD countries, as aknowledged by the huge stake
it takes on GDP even others countries population is older
and should cost more as a consequence..

Health services providers are acting in a "your money
or you life" scheme to inflate the bills..
 

Zorkorist

Diamond Member
Apr 17, 2007
6,861
3
76
No they are not.

You are reading it wrong.

Everyone in the US gets health care, today.

The only reason it is expensive is lawyers and insurance companies.

Socialising health care is not the answer.

Freedom, from insurance companies and law suits, is the answer.

-John
 

IBMer

Golden Member
Jul 7, 2000
1,137
0
76
God DAMN those for-profit non-profits, raising rates to enrich their greedy shareholders! GOD DAMN them all!

Got to love those non-profits paying out million dollar salaries.

Regence’s president, Mark Ganz, earned $897,671 from Regence BlueShield in Washington, including a bonus of $550,548.
 

IBMer

Golden Member
Jul 7, 2000
1,137
0
76
Medical care is inherently more expensive in the US than most western nations. Looking at a nation with a higher population density means better utilization. That's a given. Also look at the rate of increase of costs. We're not at the top.

In any system there are administrative costs not directly associated with production. It doesn't go away. Government will have to create what will be the most expensive bureaucracies from scratch. The cost of implementation will be tremendous, resulting in a far more substantial percentage going to overhead. You do not take control of the most complicated and expensive thing on earth for nothing nor overnight. A decade or more of snafus, cost overruns and becoming competent is probably optimistic as is a lifetime to break even. I don't think most understand how big a beast their trying to swallow is.

What your missing in profit is Salary is an expense. Revenue - Expenses = Profit. Some industries try maximize what their profits look like, some try and minimize it. The insurance industry is one that tries to minimize it. Its all an accounting game with numbers.
 

Abwx

Lifer
Apr 2, 2011
11,056
3,712
136
No they are not.

You are reading it wrong.

Everyone in the US gets health care, today.

The only reason it is expensive is lawyers and insurance companies.

Socialising health care is not the answer.

Freedom, from insurance companies and law suits, is the answer.

-John

Socialisation of healthcare is by the definition suppression
of private money sucking insurances as well as suppression
of the law suites...

The state becomes the only main insurer as well as the main
buyer of health services...
 

soundforbjt

Lifer
Feb 15, 2002
17,788
6,040
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Here's the answer to my earlier question that no-one answered.
The highest factors in our rising healthcare costs in roughly decending order:

#1)Hospitals and doctors. Doctors and hospitals account for by far the largest share, 52 percent in 2006, of all national health spending. There's abundant evidence that some of that spending is unnecessary. Under the present system, hospitals and doctors earn more money by doing costly interventions than by keeping people healthy. And more medical care doesn't necessarily mean better care, according to research on Medicare expenditures by the Dartmouth Medical School's Institute for Health Policy and Clinical Practice.

#2)Drug companies. Prescription drugs account for only one-tenth of total health-care expenditures. But drug spending has increased as a share of overall expenditures over the past decade.

#3)Insurance companies. Health-insurance premiums have grown faster than inflation or workers' earnings over the past decade, in parallel with the equally rapid rise in overall health costs. Industry spending on administrative and marketing costs, plus profits, consumes 12 percent of private-insurance premiums.

#4)Politicians and government regulators. Although the government directly controls only 46 percent of national health spending, many of its policies affect the bottom line of the health-care industry, for example, by setting Medicare reimbursement rates for doctors on which private insurers base their rates, or by regulating health insurance. Between 1999 and 2006, the health-care lobby spent more than any other business sector, according to a study by the Institute for Health & Socio-Economic Policy, a nonprofit policy and research group.

#5)Lawyers. Malpractice-insurance premiums and liability awards account for less than 2 percent of overall health-care spending, according to a 2004 study by the Congressional Budget Office. Defensive medicine, the practice of ordering extra tests or procedures to protect against lawsuits, might add another few percentage points, according to some estimates.

#6)Health-care consumers. "Modifiable" risk factors, such as eating too much, exercising too little, or smoking, are to blame for an estimated 25 percent of U.S. health-care costs, according to expert estimates. But even if every American took up healthful living overnight, our health-care expenses would still be the second highest in the world (after Luxembourg).

link
 

Zorkorist

Diamond Member
Apr 17, 2007
6,861
3
76
Hospitals and Doctors, are only expensive when you factor in the insurance they must pay to fight off lawyers.

Yes, their services are, and should be expensive, but they are not what is wrong in our health care system.

-John
 

soundforbjt

Lifer
Feb 15, 2002
17,788
6,040
136
Hospitals and Doctors, abre only expensive when you factor in the insurance they must pay to fight off lawyers.

Yes, their services are, and should be expensive, but they are not what is wrong in our health care system.

-John

Wrong.

Malpractice-insurance premiums and liability awards account for less than 2 percent of overall health-care spending.

If you have a link to show me defending your claim, I'll gladly read it.
 

Zorkorist

Diamond Member
Apr 17, 2007
6,861
3
76
Drug Companies, at least produce a product... Insurance Compaines, Government, and Lawyers, are what screw the people.

-John
 

Zorkorist

Diamond Member
Apr 17, 2007
6,861
3
76
I figured it out. Once Gobernment, Religion, Insurance Companies, and Lawyers are involved,

Then you CAN'T find any links.

It's so purely wrong, that, while I can't find a link, that only makes it more insipid.

-John
 

MtnMan

Diamond Member
Jul 27, 2004
8,766
7,892
136
The US consumes 90%+ of all heavy duty pain meds in the world. What a bunch of pussies, yea an injury is going to hurt, suck it up, vs. a life long addiction to expensive pain control drugs.

Reward doctors, hospitals, and clinics for cures and restoring health, not for the number of tests and procedures they can do.

Refuse to prescribe life long meds or a patient than can reverse their condition by life style changes. Loose weight, get off their fat ass and exercise, stop smoking, etc. Refuse to make changes that can save your life, then die.
 

Craig234

Lifer
May 1, 2006
38,548
349
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http://www.msnbc.msn.com/id/43031343/ns/business-consumer_news/

I had a little rant going about Obama but decided to erase it. All I'll say is that I hate politicians and especially Obama for trying to act like he has scored a victory with his healthcare plan. If during his reelection he starts talking about how healthcare was a big win for him, I'm going to freak out.

He will, and I understand your justified annoyance.

But remember who's even worse on the issue.
 

Craig234

Lifer
May 1, 2006
38,548
349
126
It's incredibly clear that private medical INSURANCE should simply be mostly ended as an industry. It introduces so much cost, drains so much wealth, for nothing.

It adds enormously to the inefficiency and overhead, all for one purpose, the profit of the company owners.

There's still room for some areas of insurance, but most 'medical insurance' is the largest problem IMO.
 

Zorkorist

Diamond Member
Apr 17, 2007
6,861
3
76
Medical Insurance, is this new thing, that fashinable young men in the US support.

Today, since there are no longer fashionale young men, it's a burden, and a load.

-John
 
Oct 30, 2004
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Lawyers thrive.

It's been reported time and time again that legal costs are only a small percentage, perhaps 1% or 2% of our health care costs.

What those people who want to abolish malpractice lawsuits fail to realize is that instead of the cost going to the medical system, legitimately injured people would have to bear the costs on their own. (The costs of medical negligence don't just magically disappear because malpractice lawsuits are no longer allowed. Instead they just get shifted to the victims of the medical negligence.) Actually, the overall costs and amount of medical negligence would be likely to increase because the threat of malpractice encourages doctors, hospitals, and medical products companies to be more prudent.

Ideally, if the torts system works properly the amount of accidents and the cost of those accidents is minimized. Of course, mindless free market types who don't bother to try to understand how the torts system works and who don't believe that victims of negligence should receive compensation for their injuries from the responsible parties wouldn't know about that.
 
Oct 30, 2004
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Less litigation, and less fear of litigation.

Could you be a little more specific about what types of litigation you want to reduce? Would you change the laws so that legitimately injured people can no longer file malpractice lawsuits? What makes you think that so much of the medical malpractice litigation is frivilous and baseless?
 
Oct 30, 2004
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Medical care is inherently more expensive in the US than most western nations. Looking at a nation with a higher population density means better utilization. That's a given. Also look at the rate of increase of costs. We're not at the top.

Possibly, but to what extent do you think that results in a cost savings? For the most part, you can only find major hospitals in cities with populations of over 50,000 whereas smaller towns have clinics. Is the number of hospitals needed per capita really all that different here compared to other nations? Other nations have rural areas, too.

In any system there are administrative costs not directly associated with production. It doesn't go away. Government will have to create what will be the most expensive bureaucracies from scratch.

Of course not, but then again it doesn't have to be nearly as expensive as having numerous insurance companies and everything else that comes with our current system. (I like the medical billing department at the British hospital in that video--one single drawer in a desk.)

I don't think most understand how big a beast their trying to swallow is.

We're already swallowing it to the tune of 17% of our GDP while also having tens of millions of people uninsured or under-insured, hundreds of thousands of medical bankruptcies per year, a populace terrified of job loss, and businesses and an economy burdened by health care costs and concerns.

Could it really get much worse than that? Is it possible that we might be able to emulate other nations' far superior and more efficient systems?

And finally, is it time to begin questioning the religion of Capitalism? Is it possible that other nations with other systems are simply able to provide a higher standard of living for a larger percentage of their populace than what we have in our nation? Is it possible that our current economic and social system is antiquated and that as a result our nation is going to fall behind the rest of the world (as we transition into third world nationhood)?
 
Oct 30, 2004
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Socialized healthcare is inevitable. We already have it in many respects, we just allow too many middlemen to take a rake-off in implementation, and often overpay providers, as well.

You know, I really don't think it's inevitable at all. It hasn't happened yet and to whatever extent we're seeing states and the federal government implement universal coverage, it's a very slow process and half-measure. It's also very possible that the next Republican Administration will abolish any steps that were made in the direction of socialized medicine. Heck, they'd like to abolish Medicare and Medicaid if they could.

It's very possible that our nation could just transform into a third world country and that a huge percentage of people just wouldn't have health care at all. Of course, a small percentage of people will be very rich and they will trumpet the virtues of the nation's current economic system and proclaim that the economy is fine and that people receive the compensation they deserve.

The free market dogma and myth of meritocracy are so deeply entrenched in this nation's populace that our economy and government will need to almost completely collapse before the people will be ready to question their beliefs and restructure the economy, and even then it may not happen. We could just end up as another South American or Latin American-like third world country where a small percentage of the populace is rich with the rest being poor.
 
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Oct 30, 2004
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US system is by far the least efficient in devellopped countries..

http://en.wikipedia.org/wiki/Health_care_compared#Cross-country_comparisons

Take account that in others countries, everyone is covered...

Yeah...but...but the statistics contradict the truths of the free market! That data is all lies! It has to be because socialism is evil and always fails!

What's interesting about the data, if true, is that the U.S. has the highest percentage of government revenue spent on health care but the smaller percentage of health care costs paid for by the government. Go figure.

The good news is that our nation leads the world in the number of wealthy insurance company executives per capita. We also probably have far more insurance brokers, medical billing specialists, company benefits plan managers, and actuaries per capita.