Why change pre-existing condition rules?

[martybegan]

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?

 

[Winston]

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?

The point is that profit and loss statements from insurance companies are MEANINGLESS.

 

[martybegan]

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?

The point is that profit and loss statements from insurance companies are MEANINGLESS.

No they mean something, but just not something you think is valid.

 

[OnePercenter]

Ours is a for profit system, that's the point, profit. There is no other goal.

A complete lack a actual competition thanks to deregulating the insurance industry.

 

[OnePercenter]

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?

Reagan deregulated the industry.

 

[Fenton Lum]

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?

Yes, for both them and the "job creator" class. Actually many employer plans are now requiring employees to line up for blood draws or pay higher premiums for their employer "provided" insurance coverage. Legislation is afoot that would render it "legal" to require emplyees to give up their genetic profile data as well; that will be coming. And then they are free to sell any "data" collected (or turn it over to the insurers), just like ISP's can now sell your on line activity. You are not a human being, but a commodity for the glorification and enrichment of the substantial people who control your legislative process. All information is sold and traded upon. Who knows, premiums based upon your genome? We've crossed the line of demarcation between "employee" and "sharecropper" and are well on the way to "enslaved". To live a free life you will soon need to turn your back on health"care" as envisioned on this land mass alone amongst advanced post industrial societies.