Health Insurance Profits Soar

[Revere]

yes, this is true about dell and grocers and most everything....

but WHAT is insurance doing? what did they create or produce that they are selling us? a computer lap top? a side of beef?

they have created and produced NOTHING.....

billions of dollars are being given to them, for basically providing nothing tangible in return....

AND we are talking about our health and life or death....

not car insurance, or home insurance....but our very life!

That's not even coherent. Insurers sell products you can buy or not buy.

Risk is tangible. So is ignorance.

Demanding you sell insurance to people no matter what their condition is not insurance. It's welfare.

the mandate IS THE golden GIFTHORSE for the insurance industry.....

i don't agree with it.

You can mentally masturbate about some other system, but it's not there any more than you can't pretend insurance is not a real product.

 

[Care4all]

huh? you absolutely, without a doubt, make no sense....i have no idea what you've been whining about or trying to say.....

best i leave you to your own whining and babbling.....have fun with yourself.

 

[Revere]

Insurance is not a widget, just because you say it isn't. Profit is not what is standing between you and the health care gifts you want, just because you say it is.

 

[Care4all]

Insurance is not a widget, just because you say it isn't. Profit is not what is standing between you and the health care gifts you want, just because you say it is.

???

 

[The Rabbi]

are you really this obtuse in real life?

THE $9.3 BILLION in profit, is our money....coming from our insurance premiums paid by us and our employers, over and ABOVE our money for the policy that DOES PAY for actual medical care....over and above the money we pay for our policies that goes towards all the employee salaries and benefits, over and above the amount we pay for the ceo salaries and bonuses and over and above what our premiums pay for the overhead of these insurance companies....

ALL of this money given to them by us through our premiums could be better spent if this middle man, was cut out of the picture....and we just paid the doctors, hospitals and pharma, what they are charging the insurance companies for the health care services provided us.....

Dell (or any computer company) makes profit that is OUR money too. Grocery stores make profit with OUR MONEY too. Every industry makes profits with OUR money. That's what keeps them in business.
But it isn't a one way street. It isn't like you aren't getting groceries, computers, or insurance in return for payment.
That's called business. In case you missed it.

yes, this is true about dell and grocers and most everything....

but WHAT is insurance doing? what did they create or produce that they are selling us? a computer lap top? a side of beef?

they have created and produced NOTHING.....

billions of dollars are being given to them, for basically providing nothing tangible in return....

AND we are talking about our health and life or death....

not car insurance, or home insurance....but our very life!

Revere and I are correct. You are absolutely 100% ignorant of what insurance does. You don't need to be posting here. You sound more deluded by the minute. You need to go educate yourself on what insurance is and what health insurers provide.

 

[The Rabbi]

huh? you absolutely, without a doubt, make no sense....[bold]i have no idea what you've been whining about or trying to say.....[/bold]

best i leave you to your own whining and babbling.....have fun with yourself.

And this ladies and germs is the problem.
Care has no understanding of what insurance is. Yet she insists on commenting on it. This is what makes America great: no matter how ignorant and stupid you are, you can always voice your opinion.

 

[Gadawg73]

They are still 3-4% of revenues. Is that "excessive?"

I have no problem with companies making a nice profit.
The 3-4% of revenues is misleading. Insurance companies allocate a % of all their revenues as possible claims and invest that. All gains from that are not carried on their books as profits. Real gains for the insurance industry are in the 12-15% ball park.
How else does an insurance pay out a dividend over 4-5% annually with a 3-4% of revenues as profits?

 

[Gadawg73]

That's not even coherent. Insurers sell products you can buy or not buy.

Risk is tangible. So is ignorance.

Demanding you sell insurance to people no matter what their condition is not insurance. It's welfare.

the mandate IS THE golden GIFTHORSE for the insurance industry.....

i don't agree with it.

You can mentally masturbate about some other system, but it's not there any more than you can't pretend insurance is not a real product.

Insurance is not a product, it is a service.

 

[The Rabbi]

the mandate IS THE golden GIFTHORSE for the insurance industry.....

i don't agree with it.

You can mentally masturbate about some other system, but it's not there any more than you can't pretend insurance is not a real product.

Insurance is not a product, it is a service.

It's a "financial product." That's the term for it.

 

[The Rabbi]

They are still 3-4% of revenues. Is that "excessive?"

I have no problem with companies making a nice profit.
The 3-4% of revenues is misleading. Insurance companies allocate a % of all their revenues as possible claims and invest that. All gains from that are not carried on their books as profits. Real gains for the insurance industry are in the 12-15% ball park.
How else does an insurance pay out a dividend over 4-5% annually with a 3-4% of revenues as profits?

Uh no.
Insurance companies make money two ways: excess premiums received over claims paid out (measured as the combine ration); returns on their investments. Both of those are counted as profit.
The dividend return is based on the stock price. The profit is based on sales or some other number. Your question is a false question.

btw, companies often use returns on investments to offset losses on policies written. When the market is doing well they will underprice policies just to get funds to invest. In effect their investing activities subsidize their premium rates. Under a gov't sponsored scheme that mechanism will not exist.

 

[Gadawg73]

They are still 3-4% of revenues. Is that "excessive?"

I have no problem with companies making a nice profit.
The 3-4% of revenues is misleading. Insurance companies allocate a % of all their revenues as possible claims and invest that. All gains from that are not carried on their books as profits. Real gains for the insurance industry are in the 12-15% ball park.
How else does an insurance pay out a dividend over 4-5% annually with a 3-4% of revenues as profits?

Uh no.
Insurance companies make money two ways: excess premiums received over claims paid out (measured as the combine ration); returns on their investments. Both of those are counted as profit.
The dividend return is based on the stock price. The profit is based on sales or some other number. Your question is a false question.

btw, companies often use returns on investments to offset losses on policies written. When the market is doing well they will underprice policies just to get funds to invest. In effect their investing activities subsidize their premium rates. Under a gov't sponsored scheme that mechanism will not exist.

Uh, yes.
If you purchase an insurance policy and your limits are $500,000.00 and get involved in a fender bender car accident the insurance company has 500K " exposure" and is exempted from taxation on that exposure in their investment portfolio. Same with limits on all insurance policies as exposure is the risk. Now how many unsettled claims are there and how much $$$ does that add up to each year in unsettled claims?
That is how it works. Why else does an insurance company wait until the court house steps at time of trial 3 years after major accidents? I do this for a living.
Insurance companies and major league baseball are also exempt from ALL anti trust legislation.

 

[The Rabbi]

I have no problem with companies making a nice profit.
The 3-4% of revenues is misleading. Insurance companies allocate a % of all their revenues as possible claims and invest that. All gains from that are not carried on their books as profits. Real gains for the insurance industry are in the 12-15% ball park.
How else does an insurance pay out a dividend over 4-5% annually with a 3-4% of revenues as profits?

Uh no.
Insurance companies make money two ways: excess premiums received over claims paid out (measured as the combine ration); returns on their investments. Both of those are counted as profit.
The dividend return is based on the stock price. The profit is based on sales or some other number. Your question is a false question.

btw, companies often use returns on investments to offset losses on policies written. When the market is doing well they will underprice policies just to get funds to invest. In effect their investing activities subsidize their premium rates. Under a gov't sponsored scheme that mechanism will not exist.

Uh, yes.
If you purchase an insurance policy and your limits are $500,000.00 and get involved in a fender bender car accident the insurance company has 500K " exposure" and is exempted from taxation on that exposure in their investment portfolio. Same with limits on all insurance policies as exposure is the risk. Now how many unsettled claims are there and how much $$$ does that add up to each year in unsettled claims?
That is how it works. Why else does an insurance company wait until the court house steps at time of trial 3 years after major accidents? I do this for a living.
Insurance companies and major league baseball are also exempt from ALL anti trust legislation.

You do what for a living? Clean court house steps?

 

[Gadawg73]

Uh no.
Insurance companies make money two ways: excess premiums received over claims paid out (measured as the combine ration); returns on their investments. Both of those are counted as profit.
The dividend return is based on the stock price. The profit is based on sales or some other number. Your question is a false question.

btw, companies often use returns on investments to offset losses on policies written. When the market is doing well they will underprice policies just to get funds to invest. In effect their investing activities subsidize their premium rates. Under a gov't sponsored scheme that mechanism will not exist.

Uh, yes.
If you purchase an insurance policy and your limits are $500,000.00 and get involved in a fender bender car accident the insurance company has 500K " exposure" and is exempted from taxation on that exposure in their investment portfolio. Same with limits on all insurance policies as exposure is the risk. Now how many unsettled claims are there and how much $$$ does that add up to each year in unsettled claims?
That is how it works. Why else does an insurance company wait until the court house steps at time of trial 3 years after major accidents? I do this for a living.
Insurance companies and major league baseball are also exempt from ALL anti trust legislation.

You do what for a living? Clean court house steps?

It is called the reserve.
On the insurance companies books the reserve is always calculated as a LIABILITY and is counted against net premiums.
Now how is a liability taxed? If you are writing MORE insurance with your profits then that liability on the books IS NOT taxed.
Theoretically, the reserve is the difference between the present value of the total insurance and the present value of the future premiums on the insurance face value, the exposure or risk.

"Clean court house steps?"
I could do that probably as well or better than I have cleaned your clock on this subject.

 

[Truthmatters]

Health Insurance Profits Soar, Dem Calls For Rebates

WASHINGTON -- Health insurance profits are skyrocketing in 2010 compared to last year's returns and the outgoing chairman of the House subcommittee that oversees the companies is calling on them to return the profits to consumers in the form of premium reductions.

"Your ten firms alone have reported over $9.3 billion in profits for the first three quarters of 2010," writes Rep. Pete Stark (D-Calif.), chairman of the Ways and Means health subcommittee -- and, for a day, chairman of the full committee. "On average, your profits have gone up 41 percent from last year."
<more>

Public Option

 

[Revere]

Health Insurance Profits Soar, Dem Calls For Rebates

WASHINGTON -- Health insurance profits are skyrocketing in 2010 compared to last year's returns and the outgoing chairman of the House subcommittee that oversees the companies is calling on them to return the profits to consumers in the form of premium reductions.

"Your ten firms alone have reported over $9.3 billion in profits for the first three quarters of 2010," writes Rep. Pete Stark (D-Calif.), chairman of the Ways and Means health subcommittee -- and, for a day, chairman of the full committee. "On average, your profits have gone up 41 percent from last year."
<more>

Public Option

What will you do when the health insurance profits you confiscated run out after 34 days?

 

[jillian]

Uh no.
Insurance companies make money two ways: excess premiums received over claims paid out (measured as the combine ration); returns on their investments. Both of those are counted as profit.
The dividend return is based on the stock price. The profit is based on sales or some other number. Your question is a false question.

btw, companies often use returns on investments to offset losses on policies written. When the market is doing well they will underprice policies just to get funds to invest. In effect their investing activities subsidize their premium rates. Under a gov't sponsored scheme that mechanism will not exist.

Uh, yes.
If you purchase an insurance policy and your limits are $500,000.00 and get involved in a fender bender car accident the insurance company has 500K " exposure" and is exempted from taxation on that exposure in their investment portfolio. Same with limits on all insurance policies as exposure is the risk. Now how many unsettled claims are there and how much $$$ does that add up to each year in unsettled claims?
That is how it works. Why else does an insurance company wait until the court house steps at time of trial 3 years after major accidents? I do this for a living.
Insurance companies and major league baseball are also exempt from ALL anti trust legislation.

You do what for a living? Clean court house steps?

no. you're the one who deals in cleaning supplies, nutter.

 

[Care4all]

Health Insurance Profits Soar, Dem Calls For Rebates

WASHINGTON -- Health insurance profits are skyrocketing in 2010 compared to last year's returns and the outgoing chairman of the House subcommittee that oversees the companies is calling on them to return the profits to consumers in the form of premium reductions.

"Your ten firms alone have reported over $9.3 billion in profits for the first three quarters of 2010," writes Rep. Pete Stark (D-Calif.), chairman of the Ways and Means health subcommittee -- and, for a day, chairman of the full committee. "On average, your profits have gone up 41 percent from last year."
<more>

Public Option

What will you do when the health insurance profits you confiscated run out after 34 days?

has ANYONE on this thread recommended that we TAKE their profits, or is this just ''some line'' you are PAID or brainwashed to say repeatedly?

 

[Revere]

9.3 billion in profit in just a few months.... is an awful lot of money that could be spent on ACTUAL HEALTH CARE INSTEAD of going to a middle man that provides no Medical Care what so ever....

Public Option

What will you do when the health insurance profits you confiscated run out after 34 days?

has ANYONE on this thread recommended that we TAKE their profits, or is this just ''some line'' you are PAID or brainwashed to say repeatedly?

You did, moron.

 

[Care4all]

9.3 billion in profit in just a few months.... is an awful lot of money that could be spent on ACTUAL HEALTH CARE INSTEAD of going to a middle man that provides no Medical Care what so ever....

What will you do when the health insurance profits you confiscated run out after 34 days?

has ANYONE on this thread recommended that we TAKE their profits, or is this just ''some line'' you are PAID or brainwashed to say repeatedly?

You did, moron.

NOPE! NEVER ONCE said such i thing!

i think we should just get rid of them....i have no desire to keep them and just confiscate their profits.

 

[Mr. Shaman]

They are still 3-4% of revenues. Is that "excessive?"

.....And, that's still BULLSHIT...., but I DO appreciate the opportunity to restate that!!

WENDELL POTTER: The industry doesn't want to have any competitor. In fact, over the course of the last few years, has been shrinking the number of competitors through a lot of acquisitions and mergers. So first of all, they don't want any more competition period. They certainly don't want it from a government plan that might be operating more efficiently than they are, that they operate. The Medicare program that we have here is a government-run program that has administrative expenses that are like three percent or so.

BILL MOYERS: Compared to the industry's--

WENDELL POTTER: They spend about 20 cents of every premium dollar on overhead, which is administrative expense or profit. So they don't want to compete against a more efficient competitor."

[ame]http://www.youtube.com/watch?v=7QwX_soZ1GI[/ame]