SO you can see why I question your information
Medical-loss ratios of largest for-profit insurers | Physicians for a National Health Program
Medical-loss ratios for 2005 (Source: Company 10-K, year-end filings with the Securities and Exchange Commission):
76.9% - Aetna
82.3% - Cigna
83.9% - Health Net
83.2% - Humana
78.6% - UnitedHealth Group
WellPoint 80.6% -
as I said go read the god damn fuckin bill ... do you honestly think that some paid blogger for these insurance companies are going to tell you whats in the bill ???? thats forcing them to to show what they are spending ??? you really think that they want to give money back that they didn't spend???? really are you really this fuckin' stupid
IN THE HOUSE OF REPRESENTATIVES
Mr. DINGELL (for himself, Mr. RANGEL, Mr. WAXMAN, Mr. GEORGE MILLER
of California, Mr. STARK, Mr. PALLONE, and Mr. ANDREWS) introduced
the following bill; which was referred to the Committee on
A BILL
To provide affordable, quality health care for all Americans
and reduce the growth in health care spending, and
for other purposes.
1 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
3 SECTION 1. SHORT TITLE; TABLE OF DIVISIONS, TITLES,
4 AND SUBTITLES.
5 (a) SHORT TITLE.—This Act may be cited as the
6 ‘‘America’s Affordable Health Choices Act of 2009’’.bill on my computer!!!
Page 350!!!
‘‘(4) REQUIREMENT FOR MINIMUM MEDICAL LOSS RATIO.—
If the Secretary determines for a contract year (beginning with 2014) that an MA plan has failed to have a medical loss ratio (as defined in section 1851(p)(4)) of at least .85—‘‘(A) the Secretary shall require the Medicare Advantage organization offering the plan to give enrollees a rebate (in the second succeeding contract year) of premiums under this part (or part B or part D, if applicable) by"
IDIOT ! Do you know what that says????
It tells the insurance company the MUST spend 85% of their premium or give out in rebates if they didn't!!~!!
Dumb f...k! Do you know what RESERVES are for in insurance business???
IN CASE the claims are more then anticipated the company by STATE insurance regulators have to make a profit!
SO the MEDICARE ADVANTAGE plan NOW knows it must SPEND 85% of the premiums it collects! It can't challenge the
physicians/hospitals claims because IT ALREADY has to pay automatically any enrolles a rebate!
SO If 85% of premiums goes in claims! Insurance companies REQUIRED to make a profit to put into reserves!
HOw is that going to happen?
The above 85% means 15% going out in administration,salaries,computers,rent,etc....
Where does that leave any profit??????
So what can the company do? Let people go! cuts salaries. Reduces GDP! OH and taxes???
YOU can forget that! They will be paying LoWER TAXES to Federal/State/Local and also property taxes because NOW
the federal government requires them to pay 85% out in claims!
IDIOT...
Medical-loss ratios of largest for-profit insurers | Physicians for a National Health Program
Medical-loss ratios for 2005
(Source: Company 10-K, year-end filings with the Securities and Exchange Commission):
76.9% - Aetna
82.3% - Cigna
83.9% - Health Net
83.2% - Humana
78.6% - UnitedHealth Group
WellPoint 80.6%
DO you know where that """"BLOGGER" got the informatioN you dummy! from company 10-Ks that if the CFO and auditors
didn't attest these costs were correct... THEY WOULD BE PUT IN JAIL you dumb shit!!!
Listen/read... Obama care forces now that 5% to be paid out in claims and if NOT the company does NOT make profits!
Do you know what the average profit is BEFORE TAXES on insurance companies???
Fortune 500 2009: Top Performers - Most Profitable Industries: Return on Revenues
Top industries: Most profitable 2008 Profits as % of Revenues
1 Network and Other Communications Equipment 20.4% why don't you get after these guys???
2 Internet Services and Retailing 19.4%
3 Pharmaceuticals 19.3
4 Medical Products and Equipment 16.3
5 Railroads 12.6
22 Insurance: Life, Health (stock) 4.6%
THERE goes insurance PROFITS BEFORE TAXES!!!!
If there are NO profits... NO companies. NO companies no employees, NO TAXES, NO $100 billion a year in
payroll,income/state/local TAXES!!!
Do you understand how totally IGNORANT this provision of the bill you keep asking me to read and I'm pointing out to you obviously Obama administration KNOWS but does care because
Obama has said: "I happen to be a proponent of a single payer universal health care program."Obama's words exactly!!
"I prefer to destroy the 1,300 health insurance companies that pay $100 billion a YEAR in Federal/State/Local taxes AND local property taxes on their office buildings! I prefer to put out of work the 400,000 people that work in the health insurance companies!"
I prefer that the remaining 99% pay HIGHER TAXES BECAUSE I"VE destroyed coal companies, utilities, health insurance companies!
So IF Obama prefers ONE payer that means 1,300 insurance companies no longer are in business!