Why I Want to See Health Insurance Reform Passed


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jcd1968 is offline jcd1968 Post #1  February 18,2010, 7:51pm
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The ten largest insurance companies profits increased 250 percent between 2000 and 2009, ten times faster than inflation. While their profits increase, they provide less and less security to American families. Yet they still request rate increases, in some cases, in excess of 50%.

Health Insurance Premium Increases - C-SPAN Video Library

Insurance Companies Prosper, Families Suffer: Our Broken Health Insurance System
 
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hankscorpio is offline hankscorpio Post #2  February 19,2010, 8:33am

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jcd1968 wrote :
The ten largest insurance companies profits increased 250 percent between 2000 and 2009, ten times faster than inflation. While their profits increase, they provide less and less security to American families. Yet they still request rate increases, in some cases, in excess of 50%.

Health Insurance Premium Increases - C-SPAN Video Library

Insurance Companies Prosper, Families Suffer: Our Broken Health Insurance System
The system can't be fixed without leveling it and starting over with government (tax funded) single payer.

I know that those who line their pockets from the profits of the insurance industry hate to hear that, but the plan the democrats were trying to ramrod through would be nothing but a money grab for the winners of the current failing system.

You'll know a good insurance reform when you see it because the insurance industry will be screaming bloody murder over it.
 
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Rand_011 is offline Rand_011 Post #3  February 19,2010, 8:35am
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jcd1968 wrote :
The ten largest insurance companies profits increased 250 percent between 2000 and 2009, ten times faster than inflation. While their profits increase, they provide less and less security to American families. Yet they still request rate increases, in some cases, in excess of 50%.

Health Insurance Premium Increases - C-SPAN Video Library

Insurance Companies Prosper, Families Suffer: Our Broken Health Insurance System
I call red herring ... Their profits grew becuase their membership grew ... The percent they make in profits has stayed roughly the same ... Wellpoint, one of the larger ones ... Went from operating in a couple states to 14 states => Increase in dollar amount of profit ... UnitedHealthCare purchased PacifiCare/American Medical Security/Golden Rule => Large increase in membership thus a greater dollar amount of profits.

That would be like complaining that Google is fleecing people becuase they went from (-15) billion to ~20 billion that being way more than a 250% increase
 
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bigfincat is offline bigfincat Post #4  February 19,2010, 5:54pm
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Rand_011 wrote :
I call red herring ... Their profits grew becuase their membership grew ... The percent they make in profits has stayed roughly the same ... Wellpoint, one of the larger ones ... Went from operating in a couple states to 14 states => Increase in dollar amount of profit ... UnitedHealthCare purchased PacifiCare/American Medical Security/Golden Rule => Large increase in membership thus a greater dollar amount of profits.

That would be like complaining that Google is fleecing people becuase they went from (-15) billion to ~20 billion that being way more than a 250% increase
If profits are blowing up then what is the justification for higher premiums & at the same time lesser coverage?

The industry enjoys a monopoly type situation & therefore pricing must be controlled.
 
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dwreese182 is offline dwreese182 Post #5  February 20,2010, 5:28am
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bigfincat wrote :
If profits are blowing up then what is the justification for higher premiums & at the same time lesser coverage?
I believe he just said that profits are "blowing up" because membership is "blowing up". So the profits per customer is not going up any, just the number of customers. I'm not saying his information is right or wrong, I haven't checked it, but I think what he said was pretty easy to comprehend.

I would assume from what he said that the price of coverage is more expensive for the company so the price gets transferred to the customer to maintain their profit. They are a business, they do have a right to profits. You could always start a non-profit health care company if you like. Turns out that not to many people are willing to do stuff for free.

bigfincat wrote :
The industry enjoys a monopoly type situation & therefore pricing must be controlled.
Monopoly? Is there no competition in the health care field? I believe the original post said something about the top 10 companies profits going up, which a logical examination of this information would say there is more than 10 companies since it was in fact the top 10 companies. Unless these companies are collaborating together on their prices, which I believe is illegal, this is not in any way a "monopoly type situation".
 
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D_Lion is online now D_Lion Post #6  February 21,2010, 9:00am
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Health insurance is effectively a monopoly for most people, since most people get insurance via their employer.

Further, with health insurance being a state-licensed business, that there are "ten companies" does not mean their are ten available in your community.

Since the percentage of Americans without cover is down since 2000, primarily due to employment losses and also due to price increases which are driving more people into a situation of finding cover unaffordable, the claim that these companies have more profit due to more customers, means that more than the entirety of that growth game from acquisitions (i.e., less competition) - none of it was organic.
 
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bigfincat is offline bigfincat Post #7  February 21,2010, 9:46am
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dwreese182 wrote :
I believe he just said that profits are "blowing up" because membership is "blowing up". So the profits per customer is not going up any, just the number of customers. I'm not saying his information is right or wrong, I haven't checked it, but I think what he said was pretty easy to comprehend.

I would assume from what he said that the price of coverage is more expensive for the company so the price gets transferred to the customer to maintain their profit. They are a business, they do have a right to profits. You could always start a non-profit health care company if you like. Turns out that not to many people are willing to do stuff for free.



Monopoly? Is there no competition in the health care field? I believe the original post said something about the top 10 companies profits going up, which a logical examination of this information would say there is more than 10 companies since it was in fact the top 10 companies. Unless these companies are collaborating together on their prices, which I believe is illegal, this is not in any way a "monopoly type situation".
I know that every single year over the last 8 years my premiums have gone up & less coverage was offered every one of those years.

We recieve notices of any additions & subtractions of covered services & the subtractions are always greater & more significant. I don't believe that to be a rare occurence.

The differences do not in any way compare with inflation.

Also, there are industry standards in both the insurance industry & the healthcare industry that create a monopoly-like situation whether they overtly collude or not.

There is also a monopoly in the medical field in that a license is necessary to dispense the care.
 
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dwreese182 is offline dwreese182 Post #8  February 24,2010, 9:12am
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bigfincat wrote :
I know that every single year over the last 8 years my premiums have gone up & less coverage was offered every one of those years.
I'm sorry. Have you thought of switching to GEICO? But hey, you are getting older every year, so the chances of you getting sick are getting greater, makes sense to me that they would jack your prices up. Don't wanna pay more in insurance? Don't get old......or sick.

bigfincat wrote :
We recieve notices of any additions & subtractions of covered services & the subtractions are always greater & more significant. I don't believe that to be a rare occurence.
Mine hasn't changed at all. Maybe you are with the wrong company? Have you looked around for better prices/coverage?

bigfincat wrote :
Also, there are industry standards in both the insurance industry & the healthcare industry that create a monopoly-like situation whether they overtly collude or not.

There is also a monopoly in the medical field in that a license is necessary to dispense the care.
Industry standards? You mean standards like the meat industry has? The cell phone industry? The computer industry? The internet industry? Basically every industry that exists has "standards". I'm sure you had a specific "standard" in mind that makes it unfair. Care to be a little more specific?

So based on the "license theory", the tattoo and piercing industry is a "monopoly" too?

So what does the government gain out of forcing doctors and nurses to get a license? And is this even on the insurance companies or is this on the government?
 
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Rand_011 is offline Rand_011 Post #9  February 24,2010, 9:55am
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dwreese182 wrote :
I'm sorry. Have you thought of switching to GEICO? But hey, you are getting older every year, so the chances of you getting sick are getting greater, makes sense to me that they would jack your prices up. Don't wanna pay more in insurance? Don't get old......or sick.

Slight correction ... Unlike auto insurance companies that can increase your rates for accidents, health insurance companies can't increase your rates because you got sick or lead an unhealthy life style (referring to individual plans, plans through an employer vary by state laws)

Mine hasn't changed at all. Maybe you are with the wrong company? Have you looked around for better prices/coverage?

Reminds me that the big idea the government just had was to have all the companies plans and rates in any state able to be viewed together ... Funny thing is ... One can do pretty much that exact same thing now with any of a hundred or more different companies if they simply typed health insurance quote in google.

Industry standards? You mean standards like the meat industry has? The cell phone industry? The computer industry? The internet industry? Basically every industry that exists has "standards". I'm sure you had a specific "standard" in mind that makes it unfair. Care to be a little more specific?

So based on the "license theory", the tattoo and piercing industry is a "monopoly" too?

The license theory is really funny ... Insurance companies don't care about licenses ... But the state will throw you in jail and fine you if you try to sell insurance without a license from the state. The state will fine insurance companies that allow unlicensed individuals to sell insurance.

So what does the government gain out of forcing doctors and nurses to get a license? And is this even on the insurance companies or is this on the government?
Wasn't really correcting ... More so chuckling at the fumbling government that doesn't even know that a person could get a quote online from just about every company in any state right now from private companies.
 
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bigfincat is offline bigfincat Post #10  February 24,2010, 3:46pm
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dwreese182 wrote :
I'm sorry. Have you thought of switching to GEICO? But hey, you are getting older every year, so the chances of you getting sick are getting greater, makes sense to me that they would jack your prices up. Don't wanna pay more in insurance? Don't get old......or sick.



Mine hasn't changed at all. Maybe you are with the wrong company? Have you looked around for better prices/coverage?



Industry standards? You mean standards like the meat industry has? The cell phone industry? The computer industry? The internet industry? Basically every industry that exists has "standards". I'm sure you had a specific "standard" in mind that makes it unfair. Care to be a little more specific?

So based on the "license theory", the tattoo and piercing industry is a "monopoly" too?

So what does the government gain out of forcing doctors and nurses to get a license? And is this even on the insurance companies or is this on the government?
I could be wrong but it seems that every Dr. that I have ever been to has charged about the same amount for your basic healthcare procedures. The insurance companies that pay those claims cannot do much to manipulate what they pay out to Drs. for those procedures. What are they going to do? Pay the Dr. $6 instead of $8 for your stool sample? Not terribly significant.

I reealize that each company can negotiate to some degree but it seems that in each area there is a "standard" of living that the Dr.'s in that area wish to maintain. They would tend to not budge too much on that.... unless they absolutely had to.

There is very little pressure supplied by any source to maintain costs.

How do you figure that dispensing pharmaceuticals is not a monopoly? Only a small percentage of people can do so.

There is a reason why pharms are so costly on the black market.
 
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