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You see, that's the problem with generalizing. There are many different types of "insurance executives" because there are many different types of insurances. Not every insurance company offers health insurance and, likewise, not every health insurer limits their insurance product to health insurance. So the notion that insurance executives make their money solely from health insurance is bogus. And as far as insurance companies making decisions based on the insurance contract that is in force I would think that to hold down costs they have an obligation to other insureds to do that.""
They do NOT have an obligation to increase exec pay by denying coverage to those who have paid for it and are qualified for it which they do constantly.
""Otherwise if they pay out every claim--whether it has merit or not--simply means increasing premiums for other customers."""
Yes, but it COULD mean lower wages for the execs but , of course, with them being worshipped as gods, that ain't going to happen!!!!
By the way the rate of claim denials is double under Medicare (about 6%) compared to private insurance (about 3%). """
BTW, Medicare spends $98 out of every hundred on PATIENTS. Private health insurance spends $98 on administration. But don't let facts get in the way of capitalist greed.
"""But don't let facts get in the way of a good anti-capitalist screed.
OH EXCUUUUSE ME! I didn't say HEALTH INSURANCE execs...there, is that better? Like you and the rest of the world, I, a car and home owner, am well aware that there are different kinds of insurance
They are portrayed as greedy monsters and the government should monitor their pay. Why aren't Steve Jobs, Warren Buffett, Bill Gates and others not villified as well? What about Streisand? Just who CAN make a lot of money and not have to feel like they're stealing from the mouths of babes?
Probably because the people you've mentioned give to charity?
Bill Gates (microsoft) has been slammed with many lawsuits,
so, while some might think these people are getting away with corporate murder, there is a downside to their fame and fortune.
You can villify top ceo's when they're raking in the profits and receiving big bonuses for failures.
I wished the Government would go after all of them, because they're part of the reasons our economy is in shambles.
OH EXCUUUUSE ME! I didn't say HEALTH INSURANCE execs...there, is that better? Like you and the rest of the world, I, a car and home owner, am well aware that there are different kinds of insurance
You know, while we're touching the subject of health insurance and others, has anyone ever wondered why their premiums keep going up?
I called and asked one time. The response was, well, we've had a lot of claims this past year. (my auto insurance) jeez, I didn't file a claim!
For some, having a health insurance plan is like having a $0.50 off coupon from the insurer. Doctors charge whatever they want, insurance companies pay a little, and the consumer gets screwed.
Not even Bill Gates, Buffett, Tiger Woods, pro athletes, entertainers and on and on..............?
Bill Gates is a co-founder of Microsoft. He built that company and has part ownership. He is not a professional CEO who managed Home Depot before. As much as I dislike Microsoft and the idea behind it, money isn't the thing that keeps Bill ticking. He has plans and aspires to change peoples lives with his charities. Same with Warren Buffett, Gorge Soros and a few others. They are visionaries, investors for whom money is a tool.
The CEOs we are talking about, are professional managers who belong to a small exclusive club. They hop from one company to another (musical chairs) and squeeze as much as they can for themselves. As you can see, banks that were bailed by the government refuse investing in the American economy. Their CEOs do the same with their money. Living in a bubble they lost touch with main street. If all of them invested seriously in the economy, we would have been out of recession long ago. They can do most for our recovery, but decline doing it.
Tiger Woods? Here is a thread on him and other overestimated celebrities: America and Tiger Woods
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