healthmyths
Platinum Member
- Sep 19, 2011
- 29,315
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Why do people insist on being so IGNORANT---
when the Internet PROVES them so wrong!!!
Common MYTH statement:
"Medicare pays over 95% of dollars collected back out in benefit claims.
The best private health insurance bureaucracies can boast is 80%,
most are closer to 70%."
MYTH!!!
FACT is Medicare spent in 2010 $37 billion more then they collected!
FROM the people that would know:
2011 Annual report of the Boards of Trustees for Medicare
which you can download from:
https://www.cms.gov/reportstrustfunds/downloads/tr2011.pdf
Page 10 of the report shows in 2010:
income $486 billion (to you means money coming in!!!)
expenditures $523 billion (of which $516 billion were for claims)
Means there was $37 billion MORE going out then came in!
Which to almost everyone
MEANS Medicare spend $37 billion more then there is income..
MEANS MEDICARE IS BROKE!
NO health insurance company would BE allowed to exist by any state insurance regulations if they spent more then their income!
Medicare by definition is BANKRUPT.
Medicare's expenses are greater then income .. BROKE!!
Then this OTHER MYTH!!!
The best private health insurance bureaucracies can boast is 80%, most are closer to 70%."
FACTS why are people so ignorant when the Internet provides this!
1) % of premiums spent on Claims:
% of Premium 2009 paid in claims
AVERAGE % of Premiums paid in claims: 81.53%!!!
Fortune 500 2009: Industry: Health Care: Insurance and Managed Care
2) Percent of DENIALS!!!
To the evidently IGNORANT Medicare DENIES a higher % then
private insurance!
Payer % of claim lines Denied
"Denied Claims Page 5 of 2008 National Health Insurer Report Card The Type of claims denied:"
http://www.ama-assn.org/ama1/pub/upload/mm/368/reportcard.pdf
when the Internet PROVES them so wrong!!!
Common MYTH statement:
"Medicare pays over 95% of dollars collected back out in benefit claims.
The best private health insurance bureaucracies can boast is 80%,
most are closer to 70%."
MYTH!!!
FACT is Medicare spent in 2010 $37 billion more then they collected!
FROM the people that would know:
2011 Annual report of the Boards of Trustees for Medicare
which you can download from:
https://www.cms.gov/reportstrustfunds/downloads/tr2011.pdf
Page 10 of the report shows in 2010:
income $486 billion (to you means money coming in!!!)
expenditures $523 billion (of which $516 billion were for claims)
Means there was $37 billion MORE going out then came in!
Which to almost everyone
MEANS Medicare spend $37 billion more then there is income..
MEANS MEDICARE IS BROKE!
NO health insurance company would BE allowed to exist by any state insurance regulations if they spent more then their income!
Medicare by definition is BANKRUPT.
Medicare's expenses are greater then income .. BROKE!!
Then this OTHER MYTH!!!
The best private health insurance bureaucracies can boast is 80%, most are closer to 70%."
FACTS why are people so ignorant when the Internet provides this!
1) % of premiums spent on Claims:
% of Premium 2009 paid in claims
- UnitedHealth Group 82.30%
- WellPoint 80.60%
- Aetna 76.90%
- Humana 83.20%
- Cigna 82.30%
- Health Net 83.90%
AVERAGE % of Premiums paid in claims: 81.53%!!!
Fortune 500 2009: Industry: Health Care: Insurance and Managed Care
2) Percent of DENIALS!!!
To the evidently IGNORANT Medicare DENIES a higher % then
private insurance!
Payer % of claim lines Denied
- Medicare 6.85%
- Aetna 6.80%
- Anthem 4.62%
- Health Net 3.88%
- Cigna 3.44%
- Humana 2.90%
- Coventry 2.88%
"Denied Claims Page 5 of 2008 National Health Insurer Report Card The Type of claims denied:"
http://www.ama-assn.org/ama1/pub/upload/mm/368/reportcard.pdf
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