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.
I am not going to pretend to be an expert on this topic.
I do know that my husband and I are now paying twice as much for health insurance, while receiving far less coverage than we once had.
Maybe the same careful scrutiny given to the fine print in my premiums will also be given to those who make my healthcare decisions for me.
I don't know. Depends on how much they spend on administrative costs.
If you look at the June 2011 SSA report, they paid out $577.4 Billion in benefits at a cost of $3.5 Billion.
Effectively, it costs 6/10ths of 1 cent ($0.006) to pay $1 in benefits.
If you look at OADI (Social Security Disability), they paid out $124.2 Billion at a cost of $3.0 Billion.
That's about $0.024 to pay $1 in benefits.
In 2010, Medicare spent $244.5 on payments and $3.5 Billion on administrative costs. That comes to about $0.013 per $1 in benefits paid.
One of the things that both reports make clear, is that their administrative costs are comparable to private industry. In other words, the cost for government to administer those benefits is in the ball-park with private industry.
I don't really see how these private health care plans would be greatly affected.
Overhead is basically the same. If it costs $0.08 sq ft for maintenance and $0.11 sq ft for security for government, it costs about the same for private enterprise. Social Security, HUD, OSHA and many others rent space "on the economy" and they pay the same rates and have the same costs as any other business.
If anything, these companies might have to cut back on advertising to meet the guidelines. I don't think the US is going to burn down, fall over and sink into a swamp because of that.
I am not going to pretend to be an expert on this topic.
I do know that my husband and I are now paying twice as much for health insurance, while receiving far less coverage than we once had.
Maybe the same careful scrutiny given to the fine print in my premiums will also be given to those who make my healthcare decisions for me.
What is it called when business can tell the government how and what to govern?
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.