Discussion:Insurance Industry Profit Protection Act
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Discussion Forum Index --> General Chat --> Insurance Industry Profit Protection Act
| 16 September 2009 | |
| If you have an open mind, you might want to listen to this.
Former Communications Director of Cigna testifies before Congress that without a public option, the health care bill that is shaping up in the Senate (The Baucus plan) is nothing more than a gift to the insurance companies. He mentions H.R.3200. H.R. 3200 is the Bill that contains the public option, which Mr. Potter supports. http://www.huffingtonpost.com/2009/09/15/wendell-potter-public-opt_n_287733.html | |
| 16 September 2009 | |
| Crow, we just have a philosophical difference regarding the best way to instill competition, no reason to argue about it more. What I do find interesting is that doctors are in favor of the public option, see New England Journal of Medicine The doctors will find themselves on the short end of a Public Option. The public option will pay at Medicare rates which are below the rates paid by private insurance companies. Private insurance companies will be able to use the public option rates to stay in business. The doctors will still have to have liability insurance, because no tort reform. At least one positive thing, the income tax returns for doctors will be a lot easier to prepare without all these limited partnerships and other schemes that are supported by their income level today. | |
| 16 September 2009 | |
| I liked it that Mr. Potter used the word cartel when speaking of the insurance companies.
We have talked about tort reform on here. It's also an insurance company fraud. Many states have already passed tort reform for doctors. When passed, the malpractice insurance companies will lower their rates for a few years, then turn around and go right back up again on the premiums. No legislature should pass tort reform without at the same time putting price controls on the insurers. | |
| 26 October 2009 | |
| For those of you that think the Public Option or Single Payer is the solution to health care costs because it would either provide competition or eliminate insurance companies had better look at the facts. AP:Health insurer profits not so fat
Bet you never read this int he Huggintonpost
The pharmaceuticals are not too much different. Using Pfizer as an example, after tax profit as % of revenue is 16.9 % and those over paid executives are about 0.07%. Income tax which is another 3.4% of revenue. So drugs at best would be reduced 20.6% by eliminating the profit motive, executive pay and associated income tax. I have not heard anyone say that the patented drugs are only 20% over priced. Don’t believe me … look it up yourself at Morningstar. | |
| 26 October 2009 | |
| Well, if you're not for the public option or Single payor, then I'm sure that you are totally in favor of bringing the insurance companies under the anti-trust laws? Competition is always good (as long as the capitalists don't have to compete).
Woops, I forgot, the laissez-faire world traders think anti-trust is old fashioned. Just like they thought that bank regulation was old fashioned: the market will handle it and impose it's discipline. Hmmmm. Seems like the taxpayer handled it, and got screwed. I can't exactly figure out what the capitalist class believes in nowdays, but I know this, they always leave the room with (our) money in their pockets. I will tell you very simply why single payor and the public option are worth considering: because the insurance companies hate both of them so much. That's enough for me. | |
| 27 October 2009 | |
| Yes, the insurance companies should be subjected to anti-trust and there should be nationwide competition. Without antitrust and nationwide competition, the companies become cost sloppy like the government ... probably could squeeze a good 10% out with more competition. Where the cost saving will come with a Single Payor or Public Option is the doctors and hospitals.
The doctors charge insurance companies substantially more than they get from Medicare. With a Single Payer or Public Option setting the payment rates, doctors will find themselves under pressure. "The average German primary-care doctor makes around $123,000 a year before taxes. That's about one-third less than the U.S. average." NPR:Keeping German Doctors On A Budget Lowers Costs The situation is not much different other places ... now you know why your doctor has a foreign accent! Here is an old survey from 2004 when the dollar was stronger Doctor Salaries Hospitals have gotten to the point where they are more like a five star hotels than a Super 8's. At Medicare rates they will look a lot different ... | |
