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Shorebaby, Google "health insurance horror stories" there are thousands of stories written about claims denied. Claims denied=profit
Again, you MISSED the point.
In a previous post (which a number of other posters have pointed out to you), you stated, clearly, that "all profits go into the CEO's pocket". This is/was an untrue statement by YOU. Several pointed out your ERROR and you have IGNORED it - completely.
That is what Shorebaby was, once again, trying to get you to respond to.
In a previous post (which a number of other posters have pointed out to you), you stated, clearly, that "all profits go into the CEO's pocket". This is/was an untrue statement by YOU. Several pointed out your ERROR and you have IGNORED it - completely.
That is what Shorebaby was, once again, trying to get you to respond to.
My mistake. I learned that some of the profits go into finding new ways to deny claims also.
Health Care for America Now (HCAN), a national coalition of more than 1,000 groups, believes Congress should extend affordable, quality coverage to everyone in a reformed system that includes a voluntary public health insurance plan to compete with private insurers. A public insurance plan will hold down underlying health costs across the nation and keep private plans honest by competing with them. In the existing environment, the insurers mainly compete to avoid covering the sickest 10 percent of the population that accounts for 70 percent of health care spending. In this compilation of published accounts and personal stories submitted to HCAN by patients and families, the insurers cited most often are the for-profit companies that have come to dominate the industry since derailing President Clinton’s health reform plan in 1993. Last year the total revenue of the seven largest companies totaled more than $250 billion. As this report shows, nonprofit insurance companies have different financial structures from publicly traded insurers, but they are no less determined to deny care to policyholders to bolster corporate income. They control about half of the private health insurance market.
These horrible insurance companies. How dare they make a profit. Let's nationalize health care because the government has been so successful with Medicare, Medicaid, and other Federal entities!!! Hey, while we're at it..the supermarkets are making too much money....let's force them to lower their prices and nationalize the food industry. Those attorney's are making a lot of money too....let's nationalize lawyers and decide what they can make and what they can't make. I have a good group of people that need to be looked at....College Professors and Teachers...yeah, they make an AWFUL lot of money.....let's nationalize the teaching profession and immediately lower the salaries they are paid....let some liberals feel the pain........
They don't simply "make a profit." They make a killing. It's blood money.
College professors and teachers "make an awful lot of money"? Really? What planet do YOU live on?
I suppose the other $23m in comp doesn't count? Goes to show why you need to look closely when statistics are quoted. I think the compensation issue is only germane to this thread as it speaks to additional dollars being diverted from care. In a single payer, Govt, Universal, Socialized (call it what you want, just make sure it is inclusive) I think the administrator would not need to be paid much more than the POTUS.President of the United States - MSN Encarta. If the comp $ was 1 mill I wouldn't quibble. There isn't anyone worth 100M+ /yr. But that's beside the point.
It is you that needs to look closely. The "other" $23 million is equity. Stock. The only value of most options is the difference between the grant price and the sell price. These guys create real wealth for thousands of shareholders, including you.
If you founded a company, worked for 20 years to build it, wouldn't you want to benefit from the sale of your company at some point, or was all your work out of alturism?
Salary is not the same as stock-based compensation or underlying ownership or equity.
It is you that needs to look closely. The "other" $23 million is equity. Stock. The only value of most options is the difference between the grant price and the sell price. These guys create real wealth for thousands of shareholders, including you.
If you founded a company, worked for 20 years to build it, wouldn't you want to benefit from the sale of your company at some point, or was all your work out of alturism?
Salary is not the same as stock-based compensation or underlying ownership or equity.
The issue is still dollars spent on rewarding profits based on denying coverage of policyholders. And ... even ignoring the fraud uncovered in granting of options, are options typically granted at the market price? No, this is a device to avoid income tax, dontcha know! IF you look, the officers/ directors will convert these to cash a soon as feasible or hold them to the bitter end only in an adverse market. The downside is that it encourages officers to take a short term outlook. And at the risk of straying off topic, to answer your question, if I have more than 2 mil to pass on in amassed wealth it should be taxed progressively.
The issue is still dollars spent on rewarding profits based on denying coverage of policyholders. And ... even ignoring the fraud uncovered in granting of options, are options typically granted at the market price? No, this is a device to avoid income tax, dontcha know! IF you look, the officers/ directors will convert these to cash a soon as feasible or hold them to the bitter end only in an adverse market. The downside is that it encourages officers to take a short term outlook. And at the risk of straying off topic, to answer your question, if I have more than 2 mil to pass on in amassed wealth it should be taxed progressively.
First, for every horror story you hear about denied coverage, there are dozens of people who you never hear from whose life was saved because of their health insurance. Do you agree, or do you think that they deny coverage to every policy holder?
Second, options are issued under a complex formula, but generally at or near the stock price on the date of issue. The value to the recipient can only be realized if he or she increases the stock price. Since the options (generally) are a small fraction of the total outstanding stock, the theory is that the shareholders benefit far greater than the recipient.
Most options have a vesting schedule designed to encourage a long-term view. I excercised my options after they matured and at the point I felt provided me the best return. Nothing wrong with that.
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Goes to show why you need to look closely when statistics are quoted. I think the compensation issue is only germane to this thread as it speaks to additional dollars being diverted from care. In a single payer, Govt, Universal, Socialized (call it what you want, just make sure it is inclusive) I think the administrator would not need to be paid much more than the POTUS.
