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Insurance is not exactly the average corporation. They literally shuffle paperwork, and money. My wife just had a major surgery and it was 17K to our insurance company. Or 3.4K in profit. Call it 3K after paying people to shuffle paperwork. Keep in mind-most of the work is done by the biller..
AETNA averages about an 8% margin, or $1,360 on the 17k.
No insurer comes close to the 18% EBITDA you cavalierly tossed out.
Most were quite satisfied with their coverage, just as I am.
Did you ever use it? You weren't paying for pre-existing conditions beforehand also. Just think about how much pre-existing conditions cost medicare for those who actually make it, that is pre-ACA. We will end up paying no matter what, and I think upfront is better.
I've always had employee coverage insurance, ACA hasn't affected me at all since my premiums are more tied to how healthy I am. That is, if I had obesity-related diseases then my premiums would rise dramatically.
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Of course, medical stuff costs more. Almost 50 years ago, my dad died from a heart attack that today he'd walk away from within days but that is due to amazing technological breakthroughs that cost billions in Research & Development. Your local doctor's office has more invested in machines than the hospital I was born in had. All breakthroughs, but yes, if we want to walk away from what killed the greatest generation, we have to pay for it. Consuelo and Dr. Welby are no longer simply saying "I hope you feel better" and giving us aspirin, while we die. Now they have amazing tools to let us walk away, but it isn't free, nor should it be.
It shouldn't be free, I believe in incentivizing people to be healthy. We've become pretty unhealthy as a population and that cost is being passed on.
Seems Aetna is doing quite well, it's befuddling why it's not enough. That's the problem with for profit healthcare, the subjective nature of what's enough.
Democrats, tearing down America into a third world country one illegal and dumb ass policy at a time.
Here's the problem per your article:
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The vast majority of the more than 10 million customers who purchase through HealthCare.gov and its state-run counterparts do receive generous financial assistance. “Enrollment is concentrated among very low-income individuals who receive significant government subsidies to reduce premiums and cost-sharing,” said Caroline Pearson of the consulting firm Avalere Health.
But an estimated 5 million to 7 million people are either not eligible for the income-based assistance, or they buy individual policies outside of the health law’s markets, where the subsidies are not available. The administration is urging the latter group to check out HealthCare.gov. The spike in premiums generally does not affect the employer-provided plans that cover most workers and their families.
Furthermore, Arizona has the ability to create it's own healthcare system like Romney did in Mass., but it chooses not to. I see fixes, but it would require trying to make healthcare work.
Those with employee coverage don't see much difference between pre-ACA and afterwards.
It would be better than the current system where the customer is caught between the insurance company and healthcare providers with basically no recourse to dispute a bill.
You seem to think Medicare never refuses to cover medical care, when in fact, in some instances it does.
I had to pay for insurance when my husband and I were both unemployed. Yes we were both happy with our insurance pre-ACA.
You could have paid the penalties and roll the dice. What's your state? Why aren't they helping you and yours out as ACA encourages state's coming up with their own plan and receiving federal block grants.
Democrats, tearing down America into a third world country one illegal and dumb ass policy at a time.
A very cherry picked specific set of folks, and by using the SECOND cheapest plan specifically.
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However, in Arizona, unsubsidized premiums for a hypothetical 27-year-old buying a benchmark “second-lowest cost silver plan” will jump by 116 percent, from $196 to $422, according to the administration report.
Except if you are young and get cancer or need an operation or get into an accident. My 23 yr old son needed emergency appendectomy surgery -- at a cost of about $10,000. Fortunately, he was covered due to the ACA.
So here’s what you need to understand. The Affordable Care Act isn't magic, it produces losers as well as winners. But it's not black magic either, turning everyone into a loser. What the Act does is in effect to increase the burden on fortunate people, the healthy and wealthy, to lift some burdens on the less fortunate: people with chronic illnesses or other preexisting conditions, low-income workers.
As a result, 20 million more people have health insurance than pre-ACA.
How big was his O-care deductible? Unless he has a gold plan, it's typically $6500 or so...and if so it didn't provide MUCH, given the monthly premiums. Now, if he could have had a health savings account and had been putting into it since he started working, most likely he could have paid the whole thing.
The real question-how many are now without insurance since O-care has raised premiums so much? In the last 8 years many people have seen the double, with much poorer coverage. Of course if you're on welfare (rebates) someone else is paying for it so you don't notice. BUt if you're paying your own way???
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