It finally reaches the mainstream

[Zstream]

http://news.yahoo.com/s/ap/200...check_health_insurance

About damn time!


---------------------------------
Should have been locked due to distinct lack of commentary

Senior Anandtech Moderator
Common Courtesy

 

[Ozoned]

Originally posted by: Zstream
http://news.yahoo.com/s/ap/200...check_health_insurance

About damn time!

I am more interested in what is included in the cost of sales, rather than what is left over.

 

[Ozoned]

Also, after you fact check this story, you'll need a better title. Like ~~Breaking~~ Nancy Pelosi is a lieing piece of shit

 

[BarrySotero]

There are insurers not even making a profit. The politicians making the mandates (and protecting trial lawyers that fund them) that push costs up are same ones blaming the insurers.

 

[blackangst1]

Well this isnt news except for the blowhards on the left.

 

[Schadenfroh]

Profits barely exceeded 2 percent of revenues in the latest annual measure.

Health insurance profit margins typically run about 6 percent, give or take a point or two.

I did not realize that it was that low, unless the "administrative overhead" is playing a large part in dampening the profits.

 

[boomerang]

Never waste a good crisis. Looks like whether it's real or fabricated makes no difference.

Who knows, next thing we may hear is that our current health care system isn't going to bankrupt the country. I'm pretty sure we'll never hear that the proposed one is.

This administration is losing credibility exponentially.

 

[IronWing]

Originally posted by: Schadenfroh

Profits barely exceeded 2 percent of revenues in the latest annual measure.

Health insurance profit margins typically run about 6 percent, give or take a point or two.

I did not realize that it was that low, unless the "administrative overhead" is playing a large part in dampening the profits.

They still made money while money their portfolios tanked. That 6% will shoot right back up as the markets recover. Portfolios drop 20-30-40% and they still showed a profit.

 

[IronWing]

Originally posted by: boomerang
Never waste a good crisis. Looks like whether it's real or fabricated makes no difference.

Who knows, next thing we may hear is that our current health care system isn't going to bankrupt the country.

It already bankrupted Chrysler and GM. Let's see who's next.

 

[boomerang]

Originally posted by: ironwing

Originally posted by: boomerang
Never waste a good crisis. Looks like whether it's real or fabricated makes no difference.

Who knows, next thing we may hear is that our current health care system isn't going to bankrupt the country.

It already bankrupted Chrysler and GM. Let's see who's next.

I must admit, it contributed greatly. Not the only reasons of course.

 

[waggy]

this is not new. its been said many many times that the profit margin is low. wich always suprised me that peopl esay how they are making silly profits. %6 is insane? wtf.


but its another way for the goverment ot control the people.IF you think they are doing this for anything other then power or greed you are nuts. its not for the people and the goverment hasn't been for the last decade at least.

 

[IronWing]

Originally posted by: waggy
this is not new. its been said many many times that the profit margin is low. wich always suprised me that peopl esay how they are making silly profits. %6 is insane? wtf.


but its another way for the goverment ot control the people.IF you think they are doing this for anything other then power or greed you are nuts. its not for the people and the goverment hasn't been for the last decade at least.

So I take it you'll be mailing in your medicare card and seeking private insurance?

 

[her209]

Originally posted by: Ozoned

Originally posted by: Zstream
http://news.yahoo.com/s/ap/200...check_health_insurance

About damn time!

I am more interested in what is included in the cost of sales, rather than what is left over.

I am more interested in what % of the collected premium actually goes towards paying for health care versus goes toward operational costs.

 

[Ozoned]

Originally posted by: boomerang
Never waste a good crisis. Looks like whether it's real or fabricated makes no difference.

Who knows, next thing we may hear is that our current health care system isn't going to bankrupt the country. I'm pretty sure we'll never hear that the proposed one is.

This administration is losing credibility exponentially.

The current health care system is a bubble that has inflated faster than any other in recent history. The amount of borrowed money to build the infrastructure for it has to be staggering.


Compare the automobile industry ~vs~ health care industry, in regards to their contribution to the GDP and think recent history.


If this industry collapses under either scenerio, we're fucked.

Maybe, all the government is doing, is attempting to buffer the inevitable.

 

[WhipperSnapper]

If we factor in the value of the salaries and perks that these companies' executives earn and count it as part of the profit, what would the picture look like?

Regardless, this still doesn't explain why the U.S. spends nearly 17% of its GDP on health care while leaving tens of millions of Americans uninsured or under-insured with the rest living in sheer terror of losing their jobs and health insurance while also having hundreds of thousands of medical bankruptcies and businesses burdened by insurance concerns. In the meantime, other first world nations rightfully regard Americans as being retarded and spend a much smaller percentage of their GDP on health care while having 100% coverage, a more relaxed populace, zero medical bankruptcies, and businesses that aren't burdened by insurance concerns.

 

[waggy]

Originally posted by: ironwing

Originally posted by: waggy
this is not new. its been said many many times that the profit margin is low. wich always suprised me that peopl esay how they are making silly profits. %6 is insane? wtf.


but its another way for the goverment ot control the people.IF you think they are doing this for anything other then power or greed you are nuts. its not for the people and the goverment hasn't been for the last decade at least.

So I take it you'll be mailing in your medicare card and seeking private insurance?

i have private insurance. i worked hard to get it. i have health issues and need good insurance. From what i can tell abotu medicare though its not bad but not as good as my private insurance.

edit: i gotta say about medicare. my dad got on it (about) 2 years ago. he asked me to help him out since a lot of information is on the internet. WTF man that shit is confuseing. not to mention some of it is expensive AND it still did not cover everything!

 

[GeezerMan]

Being a conservative at heart, I have mixed emotions on this whole health insurance fiasco. I can't get private health insurance due to preexisting conditions. Even when I was in my 20s, no company would give me life insurance or private insurance, period. The only way is to be working for a large company and sign on to the group plan and enroll during open enrollment.

Years ago, I did see a sign at one large company that said they could refuse coverage for new hires as well, but I don't know if that has changed.

I can get basic coverage through the state insurance pool at 835.00 a month just for me, 1000.00 yearly deductible, and no coverage for the first year for my preexisting condition. This is what I probably will do, though it is a large expense. Rates in this pool usually go up by 4% a year

Meanwhile, this link provides info on CEO compensation. Part of me says it is up to the company to decide what they pay, and part of me says 100 million dollar pay is obscene.

Link

 

[blackangst1]

Originally posted by: GeezerMan
Being a conservative at heart, I have mixed emotions on this whole health insurance fiasco. I can't get private health insurance due to preexisting conditions. Even when I was in my 20s, no company would give me life insurance or private insurance, period. The only way is to be working for a large company and sign on to the group plan and enroll during open enrollment.

Years ago, I did see a sign at one large company that said they could refuse coverage for new hires as well, but I don't know if that has changed.

I can get basic coverage through the state insurance pool at 835.00 a month just for me, 1000.00 yearly deductible, and no coverage for the first year for my preexisting condition. This is what I probably will do, though it is a large expense. Rates in this pool usually go up by 4% a year

Meanwhile, this link provides info on CEO compensation. Part of me says it is up to the company to decide what they pay, and part of me says 100 million dollar pay is obscene.

Link

You realize compensation is pretty small percentage of expenses, right?

 

[GeezerMan]

Originally posted by: blackangst1

Originally posted by: GeezerMan
Being a conservative at heart, I have mixed emotions on this whole health insurance fiasco. I can't get private health insurance due to preexisting conditions. Even when I was in my 20s, no company would give me life insurance or private insurance, period. The only way is to be working for a large company and sign on to the group plan and enroll during open enrollment.

Years ago, I did see a sign at one large company that said they could refuse coverage for new hires as well, but I don't know if that has changed.

I can get basic coverage through the state insurance pool at 835.00 a month just for me, 1000.00 yearly deductible, and no coverage for the first year for my preexisting condition. This is what I probably will do, though it is a large expense. Rates in this pool usually go up by 4% a year

Meanwhile, this link provides info on CEO compensation. Part of me says it is up to the company to decide what they pay, and part of me says 100 million dollar pay is obscene.

Link

You realize compensation is pretty small percentage of expenses, right?

sure

 

[her209]

Originally posted by: blackangst1

Originally posted by: GeezerMan
Being a conservative at heart, I have mixed emotions on this whole health insurance fiasco. I can't get private health insurance due to preexisting conditions. Even when I was in my 20s, no company would give me life insurance or private insurance, period. The only way is to be working for a large company and sign on to the group plan and enroll during open enrollment.

Years ago, I did see a sign at one large company that said they could refuse coverage for new hires as well, but I don't know if that has changed.

I can get basic coverage through the state insurance pool at 835.00 a month just for me, 1000.00 yearly deductible, and no coverage for the first year for my preexisting condition. This is what I probably will do, though it is a large expense. Rates in this pool usually go up by 4% a year

Meanwhile, this link provides info on CEO compensation. Part of me says it is up to the company to decide what they pay, and part of me says 100 million dollar pay is obscene.

Link

You realize compensation is pretty small percentage of expenses, right?

Yeah and paying an insurance claim is an even smaller percentage.

 

[dmcowen674]

Originally posted by: Zstream
http://news.yahoo.com/s/ap/200...check_health_insurance

Health insurer profits not so fat

About damn time!

Good then they should have no issue with them going away and replaced by Government option.

 

[blackangst1]

Originally posted by: her209

Originally posted by: blackangst1

Originally posted by: GeezerMan
Being a conservative at heart, I have mixed emotions on this whole health insurance fiasco. I can't get private health insurance due to preexisting conditions. Even when I was in my 20s, no company would give me life insurance or private insurance, period. The only way is to be working for a large company and sign on to the group plan and enroll during open enrollment.

Years ago, I did see a sign at one large company that said they could refuse coverage for new hires as well, but I don't know if that has changed.

I can get basic coverage through the state insurance pool at 835.00 a month just for me, 1000.00 yearly deductible, and no coverage for the first year for my preexisting condition. This is what I probably will do, though it is a large expense. Rates in this pool usually go up by 4% a year

Meanwhile, this link provides info on CEO compensation. Part of me says it is up to the company to decide what they pay, and part of me says 100 million dollar pay is obscene.

Link

You realize compensation is pretty small percentage of expenses, right?

Yeah and paying an insurance claim is an even smaller percentage.

Just making a point that executive salaries could be reduced 50% and not really have an effect on cost. Thats all

 

[blackangst1]

Originally posted by: dmcowen674

Originally posted by: Zstream
http://news.yahoo.com/s/ap/200...check_health_insurance

Health insurer profits not so fat

About damn time!

Good then they should have no issue with them going away and replaced by Government option.

Just because you fucked yourself out of a retirement fund doesnt mean the rest of us want to throw ours away who are invested with healthcare (which is virtually every diversified fund).

 

[Zstream]

Originally posted by: blackangst1

Originally posted by: dmcowen674

Originally posted by: Zstream
http://news.yahoo.com/s/ap/200...check_health_insurance

Health insurer profits not so fat

About damn time!

Good then they should have no issue with them going away and replaced by Government option.

Just because you fucked yourself out of a retirement fund doesnt mean the rest of us want to throw ours away who are invested with healthcare (which is virtually every diversified fund).

Waaa is this? Quit acting smart mister mcsmarty.

 

[Genx87]

Here is my take on this situation.

The way we do health insurance in this country is more like a privately run entitlement program. So I think there is some merit to the complaints about the companies skimming off the top. If the insurance companies actually were catastrophic in nature the argument and the system imo would be radically different that it is today.

That said anybody dumb enough to believe erasing those 12-15 billion dollars in profit from a nearly 2 trillion health care market is going to solve our problems has issues of their own. Probably need to have an iq test and determine if they are legally retarded.

Above all even if we get rid of profit health insurance it wont stop the rising costs of health care. We have a demand issue with no mechanism to curb it. It could be the govt performing the same service and costs wont go down.