Of course what the article didn’t say is that the real cost shifting will be to the subscriber. All the folks that have Health Insurance plans, that voted for Obama & Company – hope you enjoy the new rates you’ll be seeing and the new restrictions on treatments and diagnostics.
Cost shifting by employees is also going to be attempted to the Workers Comp side – good luck trying to control that. Skin & Contents where possible!
OK – Maybe I’m stupid, if the rates are regulated AND the regulations require that 85% of premiums go to medical expenses, how will the subscriber rates increase?
Seems to me the costs will be shifted, rates will increase or the companies will go out of business. Medical insurers have the best technology available to manage the business, and only run on a 2% profit ratio, the room for cutbacks is slim.
There will be no cost shifting, but there will be increased costs to the consumer–for the elimination of the lifetime limit, covering children until the age of 26 if they live at home, “free” preventive healthcare (not yet defined) and mandatory coverage of pre-exisitng conditions. If this does not raise rates 50%, I would be surprised. I wonder if the folks looking for free healthcare are going to still be around in 2014, when that part of this boondoggle kicks in?
From a June 2009 survey:
“a full 60% of consumers surveyed thought that profit margins for health insurance companies are more than 20%, and 25% of consumers pegged insurers’ profits at more than 40%!”
The actual numbers are about 1/10 that or 2 to 4%.
This article was poorly written and misleading. Ms. Heavy called the NAIC a “a major health insurance organization.”
Another smear article on the industry.
Now that we have that solved. Did you see Bryan Davis in the PGA playoff yesterday? He called a penalty on himself during the playoff, added two strokes to his score and conceded the round. It would have been his first win. It cost him over $400K! That is a man with integrity! What would it be like if our Congress and White House had that integrity. They expect it from us, we should demand it from them. They work for us!!
Isn’t is funny on how this plan tells health insurance companies how much they can keep for expenses and profit, such as 15-20 cents on the dollar? I have an idea for our law makers. How about our senate and house get what ever is left over from our budget at the end of the year for their salary? I bet it would be the first time in the last 100 years we’d have a surplus at the end of the year. Even the democrats would stop voting in more spending without finding a way to cut it some other place. We, of course, would have to put in place some law where they just can’t keep raising taxes to balance the budget so they get paid.
As we all know, our politicians cannot work a real job because they would bankrupt each business they ran.
I tried to tell everyone this before Obama shoved this down our throats but no, they didn’t want to be bothered with the facts!! I knew this was going to happen BEFORE he got elected!
Of course what the article didn’t say is that the real cost shifting will be to the subscriber. All the folks that have Health Insurance plans, that voted for Obama & Company – hope you enjoy the new rates you’ll be seeing and the new restrictions on treatments and diagnostics.
Cost shifting by employees is also going to be attempted to the Workers Comp side – good luck trying to control that. Skin & Contents where possible!
OK – Maybe I’m stupid, if the rates are regulated AND the regulations require that 85% of premiums go to medical expenses, how will the subscriber rates increase?
Seems to me the costs will be shifted, rates will increase or the companies will go out of business. Medical insurers have the best technology available to manage the business, and only run on a 2% profit ratio, the room for cutbacks is slim.
2% profit ratio. Sounds false. What, 2% of 1.2 gazilion dollars?
There will be no cost shifting, but there will be increased costs to the consumer–for the elimination of the lifetime limit, covering children until the age of 26 if they live at home, “free” preventive healthcare (not yet defined) and mandatory coverage of pre-exisitng conditions. If this does not raise rates 50%, I would be surprised. I wonder if the folks looking for free healthcare are going to still be around in 2014, when that part of this boondoggle kicks in?
From a June 2009 survey:
“a full 60% of consumers surveyed thought that profit margins for health insurance companies are more than 20%, and 25% of consumers pegged insurers’ profits at more than 40%!”
The actual numbers are about 1/10 that or 2 to 4%.
This article was poorly written and misleading. Ms. Heavy called the NAIC a “a major health insurance organization.”
Another smear article on the industry.
Now that we have that solved. Did you see Bryan Davis in the PGA playoff yesterday? He called a penalty on himself during the playoff, added two strokes to his score and conceded the round. It would have been his first win. It cost him over $400K! That is a man with integrity! What would it be like if our Congress and White House had that integrity. They expect it from us, we should demand it from them. They work for us!!
Isn’t is funny on how this plan tells health insurance companies how much they can keep for expenses and profit, such as 15-20 cents on the dollar? I have an idea for our law makers. How about our senate and house get what ever is left over from our budget at the end of the year for their salary? I bet it would be the first time in the last 100 years we’d have a surplus at the end of the year. Even the democrats would stop voting in more spending without finding a way to cut it some other place. We, of course, would have to put in place some law where they just can’t keep raising taxes to balance the budget so they get paid.
As we all know, our politicians cannot work a real job because they would bankrupt each business they ran.
More Chicken Little Crappola. Cool it Sarah P.
Hey genius. Have you seen their expense ratios???
I tried to tell everyone this before Obama shoved this down our throats but no, they didn’t want to be bothered with the facts!! I knew this was going to happen BEFORE he got elected!