- Apr 5, 2010
- 80,463
- 32,437
- 2,300
it's all for the insurance companies?
first congress gave them a huge gift with medicare, these people paid for insurance their whole younger lives, when they were not sick, and then when they reached the age of needing health insurance, the insurance companies were kicking them off their insurance...
govt came in and saved the day by creating medicare, giving insurance companies the biggest gift of a lifetime...making tax payers pay for the elderly's health care
NOW insurance companies have got congress to give them their second biggest gift of a lifetime!
by taking sick people off of their health insurance policies and putting them in a pool of people with preexisting conditions that tax payers once again, have to pay for.....
so, insurance companies no longer have to cover the elderly and now, they no longer have to pay for those sick....
could the golden goose egg for insurance companies get any bigger?
We already pay for the elderly, insurance companies only get in the medicare plus stuff if they want to.
Do you even know what the actual profit margin is for most Insurance companies?
Stated profit margins in the insurance industry are meaningless. It is a special industry, uses special rules, and gets really special tax treatment. It works like this.
Insurance company takes in one hundred dollars in premium. Pays fifteen dollars for salaries and administration. Pays ten dollars in claims. Sets aside seventy dollars in "loss reserves", and then claims a five percent profit margin. Meanwhile, those "loss reserves" are invested and the income generated remains untaxed as long as it remains in the "loss reserve" fund. Literally TRILLIONS of dollars THAT HAVE NEVER BEEN TAXED, are sitting in loss reserve funds. The shopping mall you shop at, the office building where you work, and even the grocery store building where you purchase your groceries, all are probably held in an insurance company's "loss reserve" fund.
And of course you have proof of all this, right?
Ayep
Insurance Accounting
So the solution is to prevent Health insurance companies from keeping a reserve, and thus leave them open to shortfalls in cash?