health insurance companies going out of business .. DUE TO OBAMACARE!!!

[healthmyths]

A) Medicare does NOT pay or administer ONE single claim!
B) Insurance companies pay bills presented to them.
C) Doctors agree: $600 billion a year unnecessary because they order duplicate tests, refer to specialists. All from fear of being sued!
WHY are Lawyers sacred? They make $100 billion most from lawsuits!
D) Hospitals pad and pass "uncompensated " services..

ALL of which add nearly $1 trillion unnecessary to health care!

But you idiots who have NO idea think the evil insurance companies are the hogs here!
They just pay the bills and after FACTUALLY using 80% of premium to pay claims the remain 15% used for administration and 4% net profit!

But NONE of you idiots want FACTS you just throw up the same cliched stupid comments about insurance companies!

WHY are YOU not as angry then with Lawyers as you are with insurance companies?

 

[healthmyths]

The fattest piglets squeel the loudest when they are pulled off the tit.

Good idea, let's end welfare and see who squeals.

I love it, lets end corprate welfare and see who squeals the loudest. Than the corprate welfare people buy more politicians and get right back on the tit.

Are you aware that employers actually pay MORE to SS/Medicare on behalf of employees?

Did you know that? More importantly..
YOU said "let's end corporate welfare"... OK!
Who is going to pay the payroll taxes that employers pay?

I don't think you understand that do you?

See your employer in deducting payments to SS/Medicare on your behalf.. PAYS actually MORE today on your behalf then you do!

 

[uscitizen]

health insurance companies going out of business .. DUE TO OBAMACARE!!!

As it should be.

So you are willing to put 400,000 more people on unemployment checks 99 weeks for $11 billion?
You willing to pay MORE in Federal/state/local income taxes that would remove $100 billion a year?
You willing to explain where Medicare/SS would get the $3 billion a year that comes from the employees AND employers if they are bankrupt?

I can't believe how f..king stupid people like you are!
Where did YOU ever get your anti-capitalism attitude that ALL businesses are evil. ALL profits are evil!

Private insurance companies PAY for a FACT under penalty of LAW 80% of every dollar in premium out in claims!

LIKE other idiots YOU are so bassackwards! The insurance companies pay the claims submitted you idiot!
The insurance companies MUST make a profit to build RESERVES UNDER LAW!

And again you idiots that WANT businesses to go bankrupt! HOw. f...king DUMB!

IDIOTS... the $100 billion in taxes will come from YOU! How stupid!

Yes. Making huge profits off of the suffering of fellow human beings is immoral. 11 billion is less that the combined income of the top health care insurance companies executives.

If you have been foolish enough to be employed in an unneccesary service then you need to make better choices. Health insurance companies are like ticket scalpers. They do nothing to add value to the customer.

Yep kinda like putting the tax preparers out of jobs if we passed a pure flat personal income tax.
A parasitic industry nothing more nothing less.

 

[Greenbeard]

Why dont you post the comparative health plans.

The ones for congress then the ones for you and I.

The confusion should be easy to clear up.......

Nationally, the three largest (by enrollment) Federal Employees Health Benefit Plan offerings are:

• Blue Cross Blue Shield Standard Option PPO
• Blue Cross Blue Shield Basic Option PPO (same link)
• Government Employees Health Association (GEHA)

What's significant about the plan offerings federal employees get to choose from is not that they're "government" plans--they aren't. They're private insurance plans that compete against each other in a health insurance exchange operated by the federal Office of Personnel Management. It's a competitive, organized, and user-friendly market. That's why they like it and why many folks are envious of them.

Flash forward about 15 months from now and non-federal employees will have a competitive, organized, and user-friendly market (exchange) of their own to shop for plans in. It'll be designed and organized by their state, not the federal OPM, but it'll be a rather similar experience to what federal employees enjoy.

 

[Bfgrn]

No. This is what a free market is like. If your bloated salaries and no added value to a product can't compete..then you perish.

Nothing "free" about this market, shitforbrains, this is now strictly "gubbmint" market, the gubbmint calls the shot and the IRS is the policman.

I don't want useless overpaid banksters coming between me and my physician. Somebody stopped filling the piggies feed trough? Oh my! Looks like they will have to find another tit to suck on.

HUGGY, you must always keep in mind who and what you are arguing with...

 

[HUGGY]

The fattest piglets squeel the loudest when they are pulled off the tit.

Good idea, let's end welfare and see who squeals.

The "fatest" piglets? That would be CORPORATE welfare. BP(multinational oil companies), Wallstreet, etc... The health care insurance scam operators...

 

[Katzndogz]

That's right. End corporate welfare. Let some other country attract these corporations. After all, these corporations pay employees. Oh, excuse me, exploit workers. Corporations that aren't here, won't pay taxes, and won't support the welfare state so the entitled class can look to one another to fulfill their entitlement fantasies.

 

[HUGGY]

That's right. End corporate welfare. Let some other country attract these corporations. After all, these corporations pay employees. Oh, excuse me, exploit workers. Corporations that aren't here, won't pay taxes, and won't support the welfare state so the entitled class can look to one another to fulfill their entitlement fantasies.

How well does "too big to fail" work for us? Yes I say. Whittle corporate welfare down and break up the monopolies until we have true market forces at play again.

 

[spectrumc01]

That's right. End corporate welfare. Let some other country attract these corporations. After all, these corporations pay employees. Oh, excuse me, exploit workers. Corporations that aren't here, won't pay taxes, and won't support the welfare state so the entitled class can look to one another to fulfill their entitlement fantasies.

let some other country attract these corporations? Let em. It is my understanding that the rest of the world (being socialist) would not attract these corporations, as my conservative friends like to point out. We don't want to be like European socialists.

 

[Moonglow]

Good idea, let's end welfare and see who squeals.

I love it, lets end corprate welfare and see who squeals the loudest. Than the corprate welfare people buy more politicians and get right back on the tit.

Are you aware that employers actually pay MORE to SS/Medicare on behalf of employees?

Did you know that? More importantly..
YOU said "let's end corporate welfare"... OK!
Who is going to pay the payroll taxes that employers pay?

I don't think you understand that do you?

See your employer in deducting payments to SS/Medicare on your behalf.. PAYS actually MORE today on your behalf then you do!

You are aware that when a company files taxes it can write off SS paid on wages against their gross income?

 

[Political Junky]

Health Insurance CEO Compensation

The nation’s larger health insurance companies, based on earnings, have also kept their CEOs well paid. Some companies have followed the MLR regulations a slight amount, though most evidence shows significant raises being issued among executives. The following is a list of the top salaries among health insurance CEOs in 2011:

Cigna Corp., David Cordani: $19.1 million(total 2011 revenue: $22 billion)
UnitedHealth Group Inc., Stephen Hemsley: $13.4 million(total 2011 revenue: $101.9 billion)
Wellpoint, Angela Braly: $13.3 million(total 2011 revenue: $60.7 billion)
Health Care Service Corp., Patricia Hemingway Hall: $12.9 million(total 2011 revenue: $49 billion)
Aetna Inc., Mark Bertolini: $10.6 million(total 2011 revenue: $33.8 billion)
Humana Inc., Michael McCallister: $7.3 million (total 2011 revenue: $36.8 billion)

 

[Bfgrn]

Health Insurance CEO Compensation

The nation’s larger health insurance companies, based on earnings, have also kept their CEOs well paid. Some companies have followed the MLR regulations a slight amount, though most evidence shows significant raises being issued among executives. The following is a list of the top salaries among health insurance CEOs in 2011:

Cigna Corp., David Cordani: $19.1 million(total 2011 revenue: $22 billion)
UnitedHealth Group Inc., Stephen Hemsley: $13.4 million(total 2011 revenue: $101.9 billion)
Wellpoint, Angela Braly: $13.3 million(total 2011 revenue: $60.7 billion)
Health Care Service Corp., Patricia Hemingway Hall: $12.9 million(total 2011 revenue: $49 billion)
Aetna Inc., Mark Bertolini: $10.6 million(total 2011 revenue: $33.8 billion)
Humana Inc., Michael McCallister: $7.3 million (total 2011 revenue: $36.8 billion)

Yea, but they're going out of business...they are destitute, don't you know?

 

[HUGGY]

Health Insurance CEO Compensation

The nation’s larger health insurance companies, based on earnings, have also kept their CEOs well paid. Some companies have followed the MLR regulations a slight amount, though most evidence shows significant raises being issued among executives. The following is a list of the top salaries among health insurance CEOs in 2011:

Cigna Corp., David Cordani: $19.1 million(total 2011 revenue: $22 billion)
UnitedHealth Group Inc., Stephen Hemsley: $13.4 million(total 2011 revenue: $101.9 billion)
Wellpoint, Angela Braly: $13.3 million(total 2011 revenue: $60.7 billion)
Health Care Service Corp., Patricia Hemingway Hall: $12.9 million(total 2011 revenue: $49 billion)
Aetna Inc., Mark Bertolini: $10.6 million(total 2011 revenue: $33.8 billion)
Humana Inc., Michael McCallister: $7.3 million (total 2011 revenue: $36.8 billion)

AND THAT is just the CEOs of the biggest HMOs. A mountain of cash wasted on useless middlemen. I wonder how many Americans died needlessly to over pay these vultures? How many cancers left to kill? How many transplants or other life saving operations denied so these people that add nothing to health care could have a third or fourth home or a big yaght or a jet airplane?

 

[spectrumc01]

Health Insurance CEO Compensation

The nation’s larger health insurance companies, based on earnings, have also kept their CEOs well paid. Some companies have followed the MLR regulations a slight amount, though most evidence shows significant raises being issued among executives. The following is a list of the top salaries among health insurance CEOs in 2011:

Cigna Corp., David Cordani: $19.1 million(total 2011 revenue: $22 billion)
UnitedHealth Group Inc., Stephen Hemsley: $13.4 million(total 2011 revenue: $101.9 billion)
Wellpoint, Angela Braly: $13.3 million(total 2011 revenue: $60.7 billion)
Health Care Service Corp., Patricia Hemingway Hall: $12.9 million(total 2011 revenue: $49 billion)
Aetna Inc., Mark Bertolini: $10.6 million(total 2011 revenue: $33.8 billion)
Humana Inc., Michael McCallister: $7.3 million (total 2011 revenue: $36.8 billion)

It ranks right up there with the CEO pay of non profits like the Red Cross and the United Way.

 

[auditor0007]

Experts were trying to tell Obamacare idiots IT wouldn't work!

Tried to point out that the fundamental premise of 50 million "uninsured" was a lie.. with 10 million NOT citizens, 14 million already covered by Medicaid and
18 million under age 34, make over $50k that PAY their health services WITHOUT insurance cheaper.. that real number is 8 million!
BUT if the Obamacare IDIOTS didn't even get this number correct.. OMG... wait till you see what else that means!!!


The boss at one of the nation’s biggest health insurers recently dropped a very public bombshell about the future of his industry — by forecasting its imminent death.

At a February conference in Las Vegas, Aetna president Mark Bertolini told a crowd of thousands that
“the end of insurance companies, the way we’ve run the business in the past, is here.”

This isn’t just industry whining — it’s the truth. And the chief reason for the shift is Obamacare — to its critics’ dismay and its champions’ delight.

One of Obamacare’s most disruptive new restrictions is its “minimum medical loss ratio” (MLR). This rule requires insurers to spend 80 to 85 percent of all premiums received on claims. The former governs the individual and small-group markets, the latter the large-group market.

The idea is to prevent insurers from funneling excessive amounts of revenue toward administrative expenses or profit. If the company doesn’t hit the 80- or 85-percent target, it must rebate its customers the difference.

This rule may sound reasonable. After all, who doesn’t want to get better value for their premium dollars?

But it’s exerting a serious toll on insurers’ bottom lines. WellPoint, the country’s biggest insurer, took an estimated $300-million hit last year because of the rule. Aetna suffered $100 million in damage at the hands of the MLR.

The decline has already started. Aetna has pulled out of the individual insurance market in Colorado and Indiana and out of the small-group market in Michigan.
The Iowa-based Principal Financial Group stopped selling health insurance entirely, leaving 840,000 people without coverage.
And Unicare has stopped selling policies in Virginia.

These developments are just the beginning. As Obamacare locks into place, the economic pressures on insurers and taxpayers will only grow stronger. Indeed, the Congressional Budget Office just revealed that Obamacare will cost $1.76 trillion between 2012 and 2022 — about $800 billion more than the Office estimated when the bill was signed in March 2010

The End of Private Health Insurance In America - Forbes

NOTE: The Average is almost 80% of every premium $ goes to claims:

FACTS why are people so ignorant when the Internet provides this!
1) % of premiums spent on Claims:
Total Premium % of Premium
in billions - 2009 paid in claims
UnitedHealth Group $81,186 82.30%
WellPoint $61,251 80.60%
Aetna $30,951 76.90%
Humana $28,946 83.20%
Cigna $19,101 82.30%
Health Net $15,367 83.90%

AVERAGE % of Premiums paid in claims: 81.53%!!!

Fortune 500 2009: Industry: Health Care: Insurance and Managed Care

So according to your own numbers, Aetna was the only insurer who did not pay at least 80% of revenue for medical claims. The law had no effect at all on any of the other insurers because they already met the requirement, but because Aetna did not meet the requirement, they are bitching. Funny how that works, don't you think?

There is so much money tied up in insurance that these companies will do just fine. If there are a few who can't run their businesses effectively, then their demise will be picked up by the companies that can get the job done.

 

[tomfrankjon]

This medical insurance factor has been a hot topic in the Obama sector for so long, and it would be keenly seen as what it turns out in the next few months, with the election in sight. But i don't see a decline of the insurance sector, as how much it has shaped up through the decades.

 

[HUGGY]

health insurance companies going out of business .. DUE TO OBAMACARE!!!

As it should be.

So you are willing to put 400,000 more people on unemployment checks 99 weeks for $11 billion?
You willing to pay MORE in Federal/state/local income taxes that would remove $100 billion a year?
You willing to explain where Medicare/SS would get the $3 billion a year that comes from the employees AND employers if they are bankrupt?

I can't believe how f..king stupid people like you are!
Where did YOU ever get your anti-capitalism attitude that ALL businesses are evil. ALL profits are evil!

Private insurance companies PAY for a FACT under penalty of LAW 80% of every dollar in premium out in claims!

LIKE other idiots YOU are so bassackwards! The insurance companies pay the claims submitted you idiot!
The insurance companies MUST make a profit to build RESERVES UNDER LAW!

And again you idiots that WANT businesses to go bankrupt! HOw. f...king DUMB!

IDIOTS... the $100 billion in taxes will come from YOU! How stupid!

Oh? ...where to start?...

How about the top?

Yes. Those jobs are a waste of health care dollars. There are lot's of jobs in the "insurance business". Let em apply at State Farm and Geico.

Yes. Being a frequent owner of small businesses (I invent and prototype tools then liscense the inventions for manufacture and sale) I know the value that universal health care offers business. It creates a level playing field and more stability making it more possible to create new jobs. Universal "taxes" don't affect job growth as the taxes are assessed after profits are made and wages paid.

Bankruptsys happen. Approximately three out of four startups fail for a variety of reasons. That is the nature of capitalism and trying to find a niche in the market.

"Stupid"? Maybe...but I don't start off by voting against mine nor the countries best interests.

The only profits I see as "evil" are Bains profits off of the hard work and invested retirement accounts. AND the contrived profits from gasoline sales by self restricted supply do to a conspiracy to not bring new refineries on line.. Oh ya...and the wasted money and "profits" taken out of the health care system by people that do not provide any benefit to our citizens.

The rest of your babbling rant will go unaddressed.

 

[healthmyths]

health insurance companies going out of business .. DUE TO OBAMACARE!!!

As it should be.

So you are willing to put 400,000 more people on unemployment checks 99 weeks for $11 billion?
You willing to pay MORE in Federal/state/local income taxes that would remove $100 billion a year?
You willing to explain where Medicare/SS would get the $3 billion a year that comes from the employees AND employers if they are bankrupt?

I can't believe how f..king stupid people like you are!
Where did YOU ever get your anti-capitalism attitude that ALL businesses are evil. ALL profits are evil!

Private insurance companies PAY for a FACT under penalty of LAW 80% of every dollar in premium out in claims!

LIKE other idiots YOU are so bassackwards! The insurance companies pay the claims submitted you idiot!
The insurance companies MUST make a profit to build RESERVES UNDER LAW!

And again you idiots that WANT businesses to go bankrupt! HOw. f...king DUMB!

IDIOTS... the $100 billion in taxes will come from YOU! How stupid!

Oh? ...where to start?...

How about the top?

Yes. Those jobs are a waste of health care dollars. There are lot's of jobs in the "insurance business". Let em apply at State Farm and Geico.
A WASTE??? Who in the f...k are you a two bite designer who can't use your tools so you steal your customers profits by telling them THEY have to pay you???
YOU have no F...king idea what it takes to process a claim ALL due BY THE WAY to the LAST stupid health care reform in 1996! Called HIPAA!
BECAUSE IDIOTS like you with NO knowledge of what's involved who would be pissed If someone called you a crook like a troll under a bridge forcing people to PAY you to use
your supposedly simple tool??? PUtz that's what you are!

Yes. Being a frequent owner of small businesses (I invent and prototype tools then liscense the inventions for manufacture and sale) I know the value that universal health care offers business. It creates a level playing field and more stability making it more possible to create new jobs. Universal "taxes" don't affect job growth as the taxes are assessed after profits are made and wages paid.


Bankruptsys happen. Approximately three out of four startups fail for a variety of reasons. That is the nature of capitalism and trying to find a niche in the market.

NO that is NOT correct!
AGAIN your tool set mentality couldn't even use the internet to find out if your 3/4 ratio was false!
FACTS idiot!!!
Failure:
If failure means liquidating all assets, with investors losing most or all the money they put into the company, then the failure rate for start-ups is 30 to 40 percent

If failure refers to failing to see the projected return on investment, then the failure rate is 70 to 80 percent

If failure is defined as declaring a projection and then falling short of meeting it, then the failure rate is a whopping 90 to 95 percent
Source: Harvard Business School Working Knowledge, quoting research by Shikhar Ghosh, a senior lecturer at Harvard Business School
So which ratio you dumb.ff... were you talking bout

"Stupid"? Maybe...but I don't start off by voting against mine nor the countries best interests.

The only profits I see as "evil" are Bains profits off of the hard work and invested retirement accounts. AND the contrived profits from gasoline sales by self restricted supply do to a conspiracy to not bring new refineries on line.. Oh ya...and the wasted money and "profits" taken out of the health care system by people that do not provide any benefit to our citizens.


"evil profits" are bridge trolls like you who don't have enough guts to use your tools you just depend on gullible people who think you know what you are doing and you make evil profits off other peoples labors USING YOUR TOOLS!!!

 

[Luddly Neddite]

Another lying NaziCon thread.

The only real solution is Single-Payer.

One rich person can't pay for all that you ask for leech.

... but, the pub SOCIALIST system doesn't need "one rich person". That's what all us peon tax payers are for.

Our job is to pay for you rw LEECHES who refuse to buy health care insurance and pay your own way.

 

[Luddly Neddite]

Doctors are closing up too. This is what dictatorship is like. The government takes over an industry and drives out all competition. That was the goal all along. It shouldn't be surprising.

For the first time in their careers, they don't have to chase down dead beat rw's who refuse to buy their own health care insurance so they're quitting?

You need to find a new lie because even the most ignorant knows that this a mind numbingly stooopid thing to say.

ACA increases competition. THINK.

80 cents out of every dollar MUST be spent on patient care. THINK.

The OP is incorrect. Insurance companies are not going out of business although they have no choice but to actually SERVE their clients. THINK.

All the O'Reilly bull shit about going to jail if you don't have health insurance is patently untrue. THINK.

Oh never mind. You've never used your brain before and really, I have no right to expect you to suddenly start now.

You don't want facts. You just want reason to hate the black guy. And, you are a fool.

===

BTW, anyone else had their scrips get a LOT less expensive?