U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 03-13-2017, 10:30 AM
 
29,782 posts, read 34,876,173 times
Reputation: 11705

Advertisements

Quote:
Originally Posted by NewbieHere View Post
I think if you follow the news, this is an EX-CEO. The current CEO may not like the proposed plan. So your argument is not correct. Except this guy knows the insurance business well to make that kind of statement.
Yup
https://en.wikipedia.org/wiki/Ron_Williams
Reply With Quote Quick reply to this message

 
Old 03-13-2017, 11:46 AM
 
Location: Haiku
4,109 posts, read 2,580,412 times
Reputation: 6061
Quote:
Originally Posted by SportyandMisty View Post
One of the best things we can do is to stop calling healthcare insurance "insurance." It isn't insurance and hasn't been since the 1930s.

What we now call healthcare insurance is really just a method of financing healthcare.
What you are saying is very true although the date is more like 1960 when it flipped.

Anyone who wants to really understand healthcare costs in the US and how we got to where we are, I suggest reading these two links:

This is a thorough report on the cost breakdown over the last 30 years, from Kaiser Foundation:
Health Care Costs: A Primer

Congressional Research Service did this non-partisan study of the evolution of health insurance:
The Market Structure of the Health Insurance Industry

The conclusion from both of these is that there is no single player that is at fault in why things cost so much. A lot of people blame insurance but it is really a payment conduit and not a cost center. A lot of the blame falls on us, the consumer. We have an insatiable appetite for every new thing the health industry creates.
Reply With Quote Quick reply to this message
 
Old 03-13-2017, 01:39 PM
 
29,782 posts, read 34,876,173 times
Reputation: 11705
Quote:
Originally Posted by TwoByFour View Post
What you are saying is very true although the date is more like 1960 when it flipped.

Anyone who wants to really understand healthcare costs in the US and how we got to where we are, I suggest reading these two links:

This is a thorough report on the cost breakdown over the last 30 years, from Kaiser Foundation:
Health Care Costs: A Primer

Congressional Research Service did this non-partisan study of the evolution of health insurance:
The Market Structure of the Health Insurance Industry

The conclusion from both of these is that there is no single player that is at fault in why things cost so much. A lot of people blame insurance but it is really a payment conduit and not a cost center. A lot of the blame falls on us, the consumer. We have an insatiable appetite for every new thing the health industry creates.
The rise of employer provided insurance can not be understated in the role it has played in the rise of costs. Employer based insurance enables recipients to frequently use medical services without experiencing the rea costs. So they go frequently.

Also very interestingly is the impact employer health insurance has had on the Social Security Trust Fund.
https://www.ssa.gov/policy/docs/ssb/v73n1/v73n1p83.html

Quote:
The increasing cost of employer contributions for employee health insurance reduces the share of compensation subject to the Social Security payroll tax. Rising insurance contributions can also have a more subtle effect on the Social Security tax base because they influence the distribution of money wages above and below the taxable maximum amount. This article uses the Medical Expenditure Panel Survey to analyze trends in employer health insurance contributions and the distribution of those costs up and down the wage distribution. Our analysis shows that employer health insurance contributions increased faster than overall compensation during 19962008, but such contributions grew only slightly faster among workers earning less than the taxable maximum than they did among those earning more. Because employer health insurance contributions represent a much higher percentage of compensation below the taxable maximum, health insurance cost trends exerted a disproportionate downward pressure on money wages below the taxable maximum.
Reply With Quote Quick reply to this message
 
Old 03-13-2017, 01:49 PM
 
Location: next up where ever I go
588 posts, read 344,991 times
Reputation: 2087
Quote:
Originally Posted by SportyandMisty View Post
TMKSarah, Thanks for the real-world anecdote. A question: were these individual plaintiffs? Or was there a class? What about the EEOC - was there a complaint?
This was not a class action suit. A group of plaintiffs filed together with one attorney representing the group and another attorney not related to the plaintiff group filed separately for two plaintiffs.

In other words, two plaintiffs decided they did not want the settlement and went on to file separately...and took their case to district court.

Yes, a complaint was filed and the settlement came 5 years later after a sh@tload of discovery which I was the lead para.
Reply With Quote Quick reply to this message
 
Old 03-13-2017, 01:54 PM
 
Location: Haiku
4,109 posts, read 2,580,412 times
Reputation: 6061
Quote:
Originally Posted by TuborgP View Post
The rise of employer provided insurance can not be understated in the role it has played in the rise of costs. Employer based insurance enables recipients to frequently use medical services without experiencing the rea costs. So they go frequently.
You cannot blame just employer provided insurance - Medicare is just as bad, especially when combined with a supplemental plan. Any insurance plan that has low co-insurance is subject to abuse. Some employer provided plans have no co-insurance (mine didn't), but some do. Some private insurance has low co-insurance, some is high.

ACA recognized this and required Obamacare policies to have a co-insurance that would discourage people from going to the doctor without a good reason. But people then criticized ACA for having too many government restrictions. People are never happy. AHCA is basically the same from what I have seen. It truly is Obamacare-lite. All they did is tweak the subsidies and remove the individual mandate (which will end up killing AHCA).
Reply With Quote Quick reply to this message
 
Old 03-13-2017, 01:56 PM
 
Location: next up where ever I go
588 posts, read 344,991 times
Reputation: 2087
Quote:
Originally Posted by TMKSarah View Post
This was not a class action suit. A group of plaintiffs filed together with one attorney representing the group and another attorney not related to the plaintiff group filed separately for two plaintiffs.

In other words, two plaintiffs decided they did not want the settlement and went on to file separately...and took their case to district court.

Yes, a complaint was filed and the settlement came 5 years later after a sh@tload of discovery which I was the lead para.
A complaint was not filed with the EEOC. If you want to settle or win a case it is much better to pursue damages using a "private" attorney. Especially since the defendant corp was a multi billion, trillion company.
In my humble opinion, if the plaintiffs were suing a mom and pop place they never would have been able to get the stellar counsel they did get. Problem was, the attorney saw this as a never ending suit and convinced the group except for two to try to settle.

I am no attorney but my opinion is to always settle. The fees to go to court will eat up all the gain in most of the cases I worked on.
Reply With Quote Quick reply to this message
 
Old 03-13-2017, 02:37 PM
 
4,194 posts, read 2,490,628 times
Reputation: 1935
Quote:
Originally Posted by markg91359 View Post
So, you believe we should abolish Medicare and Medicaid correct?

I don't suspect you'll find much support that idea.
Yes I do. Make people pay for their check ups, health care etc.. Stop forcing others to pay for other peoples problems through taxes etc.
Reply With Quote Quick reply to this message
 
Old 03-13-2017, 02:48 PM
 
Location: Mammoth Lakes, CA
3,160 posts, read 6,944,721 times
Reputation: 7447
I'm retiring on June 2, 2017 and no Health reform verdict is going to stop me. My life's dream was to retire at 55 and in 2 months, I'm achieving it. So many people allow ancillary things (and yes, health care is ancillary to ones actual life) to postpone finally living. Not me.
Reply With Quote Quick reply to this message
 
Old 03-13-2017, 03:28 PM
 
Location: Central Mexico and Central Florida
7,108 posts, read 3,465,006 times
Reputation: 10183
Quote:
Originally Posted by Ulysses61 View Post
I'm retiring on June 2, 2017 and no Health reform verdict is going to stop me. My life's dream was to retire at 55 and in 2 months, I'm achieving it. So many people allow ancillary things (and yes, health care is ancillary to ones actual life) to postpone finally living. Not me.
Congrats! And I agree with your outlook....life is so much shorter once we get to the high side of 50.
Reply With Quote Quick reply to this message
 
Old 03-13-2017, 03:47 PM
 
29,782 posts, read 34,876,173 times
Reputation: 11705
Quote:
Originally Posted by TwoByFour View Post
You cannot blame just employer provided insurance - Medicare is just as bad, especially when combined with a supplemental plan. Any insurance plan that has low co-insurance is subject to abuse. Some employer provided plans have no co-insurance (mine didn't), but some do. Some private insurance has low co-insurance, some is high.

ACA recognized this and required Obamacare policies to have a co-insurance that would discourage people from going to the doctor without a good reason. But people then criticized ACA for having too many government restrictions. People are never happy. AHCA is basically the same from what I have seen. It truly is Obamacare-lite. All they did is tweak the subsidies and remove the individual mandate (which will end up killing AHCA).
I was thinking of Cadillac plans with minimal if any deductible and very low co-Pays. We had working and still have a supplement to Medicare and we pay nothing. Not a SS drain now but when working yes especially for the wife. Me not so much and in the latter years not at all.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top