How do you feel about insurance companies, corporations, and banks?

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by American Horse, Jan 23, 2010.

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How do you feel about insurance, corporations and banks?

  1. I despise the health insurance companies

    9.1%
  2. I am neutral about health insurance companies

    27.3%
  3. Policy phraseology is difficult and deceptive, with fine print

    27.3%
  4. And therefore I haven’t read it.

    0 vote(s)
    0.0%
  5. Policy phraseology is explicit and unambiguous, there is no fine print

    18.2%
  6. And I have taken the time to read it

    27.3%
  7. I also despise corporations, banks, and credit card companies

    18.2%
  8. I’m neutral about corporations, banks, and credit card companies

    72.7%
Multiple votes are allowed.
  1. American Horse
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    American Horse AKA "Mustang"

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    Certainly President Obama believes there is public appeal for him in condemning health insurers. He also is convinced that he gains popular support by damning corporations, banks, and credit card companies.

    How do USMB members really feel about health care insurers? Of course we are well aware of the usual complaints, and the support they reportetly get too, but how do the opinions break down in proportional numbers here?

    Some people simply hate insurance companies. Are they the same folks who also hate corporations, banks, credit card companies, and any other impersonal entities they come in conflict with during difficult times?

    Some people are neutral about all those entities, seeing them as being necessary in a society in which personal responsibility and self discipline are better alternatives to relying on a government in every aspect of their lives; they say they are fearful that too much government involvement erodes freedom.

    This poll’s purpose is to try to determine the extent and proportion of these opinions here.

    You may choose more than one
     
  2. Mr. H.
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    Mr. H. Diamond Member

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    I want better health coverage for less. My premiums have gone up 500% in the past 20 years- and for the same bullshit policy.

    And a bicycle. Oh a pony would be nice too.
     
  3. American Horse
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    American Horse AKA "Mustang"

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    Is your insurance provided by your employer? Do they offer more than one policy? Have you tried shopping?

    My own son aged 40 has been paying 400 percent more than he would have had to for a policy with the same deductible, and he has simply been "too busy" to check. He's self employed and been buying his health insurance from the same company that provides his home fire and hazard insurance. I got him a price from a COMMERCIAL agency, which has multiple companies.

    I also checked and he could have actually been buying insurance from the state assigned risk pool (for people with pre-existing conditions; conditions like MS, or diabetes) for 30 percent less than he has been paying.

    Mr H. please record your opinion options...eh?
     
    Last edited: Jan 23, 2010
  4. Cecilie1200
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    Cecilie1200 Gold Member

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    I consider all of the above to simply be necessary, if sometimes annoying, aspects of life in the United States. Corporations and businesses are not evil. People are. Sometimes, people with power in businesses are evil, but for the most part, they aren't. They are just trying to make a profit (which is not a bad word, whatever some people think) by providing a product or service people need.

    Yes, insurance companies sometimes deny claims. Sometimes they stop covering certain clients. NOT because their goal is to screw everyone out of their money. Businesses do not stay in business for very long with that as their goal. They do it because their contracts are very specific about what they provide, and they are as paranoid about insurance fraud as leftists are about insurance company "abuse". Actually, that's not true, because fraud is much more prevalent.
     
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  5. MIPS
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    MIPS Active Member

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    Get the government out of the health care business and your premiums will go down, after all ham handed government intervention in the market is the primary culprit for the price inflation in the health care market.

    After all who do you think pays for all the regulatory compliance costs & taxation burden that is imposed on health care providers? it certainly isn't the providers.
     
  6. Mr. H.
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    Mr. H. Diamond Member

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    I was self-employed for the first 10 years of my career, then as an employee for the past 20 years have never been covered under a company plan. I am the CEO but my board is my... family. Very tight pursed group of folks LOL. I have a couple of pre-existing conditions of which OBAMA promises to rid me. ;).

    Yes I must "shop" around thanks for the suggestion.
     
  7. Foxfyre
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    Foxfyre Eternal optimist Gold Supporting Member Supporting Member

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    I want government to apply existing anti-trust laws to insurance companies to break up the lucrative little state monopolies that currently exist. Then, other than necessary regulation to prevent false advertising and other fraudulent practices, I want the federal government to get out of it altogether except for Veteran's benefits.

    1) I want insurance policies to be owned by the policyholder they insure even if employers choose to pay all or part of the premiums. That would eliminate the problem of losing your medical insurance if you are laid off or change jobs.

    2) I want the policyholder to be able to take their insurance policy wherever they move, across state lines, or whatever within the United States.

    3) If medical providers and insurance companies cannot provide healthcare at a reasonable cost, then the cities, counties, and/or states should have ability to set up their own systems to compete with private insurers and healthcare providers. But this should be a state operation and the feds should stay out of it.

    4) Reasonable tort reform at the national or state levels should be accomplished as a first order of business

    5) Insurance companies should not have to punish everybody for pre-existing conditions of a few, but I would have no objection to major medical policies along the lines of flood insurance or earthquake insurance being provided to cover those otherwise difficult to insure people.

    6) We all should be paying for routine doctor visits, prescriptions or whatever unless we want to pay a premium for coverage for that. Insurance should kick in after a substantial deductible as it once did and that alone would bring down the costs substantially.

    As for banks and lending institutions, the states and feds should establish strict rules and regulations that keep the institutions from taking excessive risks with the depositors' money at least without the depositors' knowledge and consent. That means that they make loans to people who have a reasonable track record of repaying their debts and who can show they have reasonable ability to repay the loan. Those who can't do that will just have to stay in their apartments or whatever, clean up their credit record, and save enough for a substantial down payment just like the rest of us have to do in order to buy a house.

    Once that is in place, the feds should get out of the way and let the market work its magic.
     
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    Last edited: Jan 23, 2010
  8. American Horse
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    American Horse AKA "Mustang"

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    You have nailed it in so many ways. One of most complained about problems is the one of un-insuraility for pre-existing medical conditions.

    Most states – I believe only a few don’t – have what are best called “assigned risk insurance pools” for the people otherwise uninsurable because of prior existing health conditions. In most states there are a large number of companies offering health insurance.

    It is easier in those states with multiple companies to require that all who sell insurance within their state to provide insurance for the un-insurable on a rotation basis, and to conform to a schedule of premiums, and deductibles without those policy premiums being unusually high, or to add much cost to policy holders in the broader market in those states.

    States with few companies to rotate among, or states with many mandates, will have a harder time keeping their premiums to rates that will be thought to be reasonable by those being insured. Thus we see a wide disparity for the cost of health insurance in the 50 states.

    Unfortunately, it appears that states with the highest premiums do not take a clue from the states with the lowest premiums, and once there is a unitized system, premiums will skyrocket for the states with well managed insurance markets with the least interference because the market will suffer from insufficient competitive information from many markets.
     
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  9. Mr Clean
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    Mr Clean Gold Member

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    They're necessary evils I suppose.
     
  10. RodISHI
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    RodISHI Gold Member

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    I think you covered a lot of it. When I operated the company we had health insurance. The cost were too much when I quit contracting so we let the policies go. After penciling it I was sorry for even paying the premiums. We would have been better off to bank the money and pay for any medical care needs we may have after looking at what we actually spent by the time we paid all the deductible cost and the premiums. I personally think it would be nice if there were more options available in the industry also. Coops were people could pool their insurance premiums and decide cooperatively what their needs are could also be an option.

    As for banks. I believe these monopolistic mega corps they need to be broken up and held to a tighter standard with stricter regulation. As I stated in another thread paying for performance bonds, insurance and having percentages withheld are a normal part of business. It is a shame what has happen and many of the CEO's still own large blocks of stock in these companies yet they have moved onto and into other corporations and they are now working a new angle to fleece the public. The next run will be a shortage and catastrophe that will be made of food right here in America. If the leaders of this country do not prepare it is a disaster looming in the very near future


    "Are corporations evil?" When they are operated and infiltrated by unethical people who put their own greed before society and communities as a whole I would say they are very susceptible to being out of control for the love of money. These mega banks new they were putting money into a black hole when they loaned money on "blue sky" to people who did not have the viable means to make payments long term. They created an environment that was unsustainable knowingly for borrowers. They used depositors money to rape and pillage and they knew that they would be able to sell these loans to government loan programs and government backed entities. Which in fact they did do and the crash did come.
     
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