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Old 03-13-2020, 02:33 AM
 
Location: Tennessee
28,785 posts, read 49,177,385 times
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I have UMR for health insurance wondering by the time a lot of there customer's get treatment if this could put them out of business?
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Old 03-13-2020, 05:44 AM
 
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We don’t have health insurance. They are administrators for 3rd party paying system. They collect a fee (premium) for each of us, take their cut and pay out the rest. If they don’t have enough to pay, they will increase the fee.
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Old 03-13-2020, 02:46 PM
 
10,533 posts, read 14,022,645 times
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Nope, as stated they are an "administrator" not an insurance company. Many businesses with self funded health care plans have TPA's doing the administration.
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Old 03-15-2020, 12:01 AM
 
1,709 posts, read 772,609 times
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UMR is unlikely, but the underlying insurance company (or even UMR's parent company, UnitedHealth) could go out of business if the pandemic gets really really bad. But if it gets to that level, the government will step up with funding.
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Old 03-15-2020, 01:57 PM
 
Location: Massapequa
389 posts, read 279,574 times
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None of the insurance companies will ever go bankrupt. All types of insurance companies continue to charge consumers crazy premiums, mismanage the money, and eventually disaster strikes. Then the consumers foot the bill for the companies through taxpayer bailouts. Insurance companies can't lose; which leads to high prices, mismanagement, and corruption.
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Old 03-16-2020, 08:49 AM
 
Location: Raleigh
9,687 posts, read 7,295,387 times
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Quote:
Originally Posted by IDoPhysicsPhD View Post
UMR is unlikely, but the underlying insurance company (or even UMR's parent company, UnitedHealth) could go out of business if the pandemic gets really really bad. But if it gets to that level, the government will step up with funding.
Honestly, the statistics lean on it being Medicare that really takes the hit for this. If your average 45 year old gets the virus they're unlikely to need hospitalization.
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Old 03-16-2020, 09:50 AM
 
5,968 posts, read 1,755,840 times
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Quote:
Originally Posted by JD59 View Post
I have UMR for health insurance wondering by the time a lot of there customer's get treatment if this could put them out of business?
No.
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Old 03-16-2020, 09:51 AM
 
5,968 posts, read 1,755,840 times
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Quote:
Originally Posted by IDoPhysicsPhD View Post
UMR is unlikely, but the underlying insurance company (or even UMR's parent company, UnitedHealth) could go out of business if the pandemic gets really really bad.
Nope.
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Old 03-16-2020, 02:20 PM
 
Location: Tennessee
28,785 posts, read 49,177,385 times
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This is good news because I can't do without insurance. Have a lot of health problems in the past.
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Old 03-16-2020, 11:41 PM
 
583 posts, read 148,806 times
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Quote:
Originally Posted by RationalExpectations View Post
Nope.
Sure it can. Do you think insurance companies have unlimited money?
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