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I suppose they are just getting while the getting is still good. I hope we replace the entire private insurance system with government sponsered single payer health care as soon as possible. We do not need private insurance over head costing us money that could be better spent on care.
Insurance rates are going up for two reasons directly related to the Patient Protection and Affordable Health Care Act.
1. They can not longer ditch their highest risk customers. Increasing the amount of risk they are taking on means they will likely raise premiums.
2. Because they have to now spend X amount on paying claims, they want to increase total profits so that the amount the executives take home is still very large.
You can decide how you feel about either of those. Personally, I think it just epitomizes flaws in the system. This is an area where consumers really do need more protection. We have a system that makes getting health care harder for the people who need it most. On the other hand, it is entirely valid from a business standpoint that an insurance company would want to reduce their risk. Unfortunately, our government is taking on the highest risk patients to begin with (Medicare/Medicaid), so the fact that insurance companies are pushing off the risk onto someone else (the government) means higher tax dollars. BUT, if the government didn't take the patients insurance companies won't, that would mean more unpaid bills to the providers, which would in turn (really, does in turn) lead to higher health care bills. If these bills don't get paid, providers can't remain solvent and will go out of business.
Why anyone thinks a system that involves propping up a massive for-profit industry in the process of a person reimbursing someone for medical care provided is good is beyond me. Higher premiums, higher taxes, or higher medical bills, we're all paying for everyone else's medical care regardless. Americans need to understand this and get over it. Then maybe we can create for ourselves a more efficient system and everyone can pay less more medical care.
I bet Kucinich feels really good about himself for approving of this solution.
The secret hope of progressives on this forum (though they won't admit it) is that hopefully this health care reform bill causes insurance companies to fail and we're forced to adopt UHC in absolute desperation.
The secret hope of progressives on this forum (though they won't admit it) is that hopefully this health care reform bill causes insurance companies to fail and we're forced to adopt UHC in absolute desperation.
Actually the current system is moving toward failure with or without the new legislation. Providers, especially hospitals, are increasingly having a hard time remaining solvent because people/the government/insurance companies can't or won't pay or don't pay enough for a significant amount of the care they provide.
Personally, I'd rather my insurance company failed than my local hospital, but you'd rather the other way around, I suppose that's your business.
This seems to be inconsistent with many of your comrades who complain 24/7 about the greedy insurance companies. Which is it?
My comrades? Please. Actually, having worked in our health system and having studied it academically, my opinion on health care has absolutely nothing to do with my political beliefs. (Or what I read in a magazine, or what I saw on the news, etc.)
So, doctors and hospitals charge more to make up the loss they get from accepting Medicaid, Medicare and Tri-Care patients. Insurance rises to stay on top of the doctors rise in cost, forced on them by our government policies.
My comrades? Please. Actually, having worked in our health system and having studied it academically, my opinion on health care has absolutely nothing to do with my political beliefs. (Or what I read in a magazine, or what I saw on the news, etc.)
Just out of curiosity, why are insurance companies yielding profit margins of between 5-10%?
I used to work for Blue Cross in Philly so I also knew their bottom line also.
So, doctors and hospitals charge more to make up the loss they get from accepting Medicaid, Medicare and Tri-Care patients. Insurance rises to stay on top of the doctors rise in cost, forced on them by our government policies.
Not quite.
Insurance companies try their hardest to get out of paying any bill. Often, they underpay. From a purely business standpoint, this makes sense for them. This has nothing to do with government policies. A large hospital writes off tens of thousands of dollars a day in bills that really should have been paid. Providers have no legal recourse against this because if you sue an insurance company, you might get paid, but then the insurance company simply says their customers can't go to you anymore, and boom, you've both lost and angered a bunch of your customers. It is true a majority of providers' revenues comes from the private insurance industry, BUT that doesn't mean they don't contribute in a large way to rising health care costs.
Additionally, insurance companies LIKE government involvement in the business because it gives them an excuse not to pay for things. Increasingly insurance companies use the fact the Medicare doesn't pay for certain procedures and charges as an excuse that they shouldn't pay for certain procedures or charges, despite the fact that Medicare wasn't designed to be all-encompassing.
That's interesting because my health insurance is rising quite a bit in 2011 and the company itself said it was due to the new regulations from ObamaCare. Mine went up about $50 per month and I have a family plan. One of my friends has a single plan and hers doubled. Guess it depends who you ask because our insurance companies are telling us it's because of the new health care law.
Our insurance is raising quite a bit also, as is several of my friends and family members. My insurance agent told me it is directly due to ObamaCare.
Additionally, my friends in the healthcare industry all say this new healthcare reform will/is drastically increase costs. It is interesting to see the articles stating this is false?? I guess I believe more in actual rate increases in my own insurance policy and what the actual providers are showing me.
Overall, this reform needs to be repealed and fast. At the very least, it is unconstitutional to force healthcare on people - especially coming from the Government!
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