Socialize the risk, Privatize the profit

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by sparky, May 18, 2011.

  1. sparky
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    sparky VIP Member

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    http://www.pensitoreview.com/2011/0...lth-insurance-industry-report-record-profits/


    There is one more step. The health-insurance industry has, in effect, socialized the risk and privatized the profit, similar to the way the Wall Street banksters socialized their billions in debt and privatized their profits after the economic meltdown.

    While health-care industry profits grew by 22 percent last year, at least in part because they jacked up their prices, 50 million Americans — mostly small-business owners, the self-employed and lower-income families — went without coverage, mostly because they couldn’t afford the premiums.

    When the uninsured needed care, they went to hospitals — the most expensive setting for medical care, where they received treatment which they also could not afford. And here’s the last step: Their unpaid hospital bills — $49 billion last year — were paid by tax payers, mostly at the local level.

    Socialize the risk, privatize the profit.

    Republicans like to blame the victims — the uninsured deadbeats — but it is these same Republicans who insist that only private industry, not the government, can solve problems.

    And, in fact, private insurers could solve this crisis tomorrow, if they had a reason to. All they would have to do is lower the price of premiums to make them affordable.
     
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  2. editec
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    editec Mr. Forgot-it-All

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    Private HC isnurers really have no vested interest in keeping HC costs down.

    Their profits are typically based as a percentage of their premuims. Let's call that P

    Ergo if the cost of HC goes up X % their profits go up (X%P)

    Now they obviously DO have a vested interest in denying claims for existing clients because that cost comes out of the bank today.

    But in the longer run a dramatic increase in HC overall, means more money coming to them next year.

    Remember, they really make their operational profits based on the insured who are not making claims.
     
    Last edited: May 18, 2011
  3. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    I wonder if I can get an ObamaCare waiver for my family? I'd save a lot of money right there.
     
  4. Mr. H.
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    Mr. H. Diamond Member

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    Just can some fruits and veggies, form a company, and include "all profits to charity" after the name.
     
  5. uscitizen
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    uscitizen Senior Member

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    Actually health care insurerers keep their costs down by paying less to the health care providers for procedure X than someone who would pay cash does.
     
  6. uscitizen
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    uscitizen Senior Member

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    I tried to incorporate myself once so I could write off all my costs of earning money/profit.
    My gas to go to work, vehicle mileage, haircuts, clothes, lunches, etc that are required for my job.
    It was not allowed.
    Only corporations can deduct all the costs of making money.
     
  7. RDD_1210
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    RDD_1210 Forms his own opinions

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    So you want your family to have shitty health insurance? Good for you.
     
  8. sparky
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    sparky VIP Member

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    sure, enlightened self interest playin' both ends toward the middle is thier entire modus operandi Citizen

    and now that they've been empowered by the gub'mit, we can expect the jackboots be handed out to all those lovely sorts who's job it is to do so

    at our expense!, so bend over for those 'good hands'


    [​IMG]
     
    Last edited: May 18, 2011
  9. uscitizen
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    uscitizen Senior Member

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    Do not forget corporations Externalizing Costs.

    Why pay for a road to haul timber out when the govt will build it for you, etc.

    Who paid to put GPS satellites in orbit to prop up a multi billion dollar industry?
     
    Last edited: May 18, 2011
  10. auditor0007
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    auditor0007 Gold Member

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    What healthcare providers charge is completely different than what they collect, even if you are paying cash. They rarely collect the full amount from those without insurance. On top of that, sometimes it is actually cheaper to pay cash, at least for certain things. You would be surprised what you will find if you actually look around a bit.
     
    Last edited: May 18, 2011

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