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The administrative costs of Medicaid and Medicare are far, far lower than the costs of private insurance administration.
After all, that CEO had to be paid $10 million along with all the other well-paid employees.
Let me explain the problem with for-profit insurance companies.
My father was an insurance underwriter for 30 years before he quit in disgust, and he explained the problem to me.
My wife was involved in an auto accident. She was T-boned by a 17 year old who ran a light. She suffered a minor back injury.
Our auto insurance covered the cost of repair except for a $250 deductible. I called the kid's insurance company and asked them to reimburse me $250.
They declined and said I would have to sue them for it. I said that makes no sense since a lawsuit would result in them having to pay me a lot more than $250. They told me to sue.
So I called my dad, very confused.
He explained insurance companies have a profit margin. The more costs go up, the more they have to raise insurance rates, and therefore the more profit they make.
If your insurance is $100, for example. And they have a ten percent margin, they make $10.
But if costs go up, and now your insurance is $200, they make $20.
And that is why health care costs and insurance costs go up. It's all about profit margins.
Your hypocrisy is blindingly scummy.There is no justifying this kind of vigilantism. At the same time, it is surprising people such as this CEO don't realize they cannot keep abusing people forever without someone feeling pushed too far.
To measure the administrative costs for Medicare, we turned to the 2017 Annual Report of the Boards of Trustees of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds -- the document prepared by Medicare’s fiscal overseers.You got proof to back that up?
And those government employees get big old pensions that have to be covered as well.
www.politifact.com
www.americanprogress.org
Thompson got the same thoughts and prayers we dish out to shot school children.Your hypocrisy is blindingly scummy.
You say 'there is no justifying...' then you go on and try to justify it.
Go fuck yourself. A man is dead because of scumbags like you. Too weak and too immoral to condemn murder...
I despise dimocrap scum with every fiber of my being. You deserve it. E
UnitedHealth has increased its annual revenue since 2012 by more than $100 billion, when adjusted for inflation.How much have their profits gone up adjusted for inflation?
To measure the administrative costs for Medicare, we turned to the 2017 Annual Report of the Boards of Trustees of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds -- the document prepared by Medicare’s fiscal overseers.
The trustees’ summary listed total Medicare expenditures of $678.7 billion for 2016, of which $9.2 billion was characterized as "administrative expenses." That works out to 1.4 percent, which is even lower than what Sanders stated.
That covers salaries and expenses, patient outreach, and fraud and abuse control by the Health and Human Services, Justice Department and FBI, among other things.
[snip]
Average insurers’ overhead costs are about 12.4 percent, according to an April 2017 Annals of Internal Medicine article by Steffie Woolhandler and David U. Himmelstein. A February report from the Center for Economic and Policy Research totaled overhead costs for private individual and employer based plans at 12.3 percent in 2015. And America’s Health Insurance Plans found that 17.8 cents of every premium dollar goes to operating costs.
Administrative costs for private insurance versus Medicare
Sen. Bernie Sanders, I-Vt., said that switching to a single-payer "Medicare for all" health system would save billions o
Also, think about this. An average doctor's office has to deal with a multitude of insurance companies and their varying billing codes and processes.
Each year, health care payers and providers in the United States spend about $496 billion on billing and insurance-related (BIR) costs, according to Center for American Progress estimates presented in this issue brief. As health care costs continue to rise, a logical starting point for potential savings is addressing waste. A 2010 report by the National Academy of Medicine (NAM) estimated that the United States spends about twice as much as necessary on BIR costs.2 That administrative excess currently amounts to $248 billion annually, according to CAP’s calculations.
Excess Administrative Costs Burden the U.S. Health Care System
Reforms to cut waste in health care financing would save billions of dollars annually.
UnitedHealth has increased its annual revenue since 2012 by more than $100 billion, when adjusted for inflation.
How UnitedHealth Group grew bigger than the nation’s biggest banks
Wow. They say it all the time. Whether it's "Medicare for All" or "single-payer health care" or "socialized medicine", they've been saying it for literally decades.I never hear them say that.
Obama was already facing strong pushback for his ACA plan, so of course he wasn't going to promote single-payer. The country wasn't ready for it yet.
Not so much. They are slaves to oligarchs and their campaign donations. And they are slaves to power above country.I know what it tells me. Both parties are slaves to greed.
How can Trump succeed if he doesn't actually have a plan and just lies about it?That's why I was hoping he would succeed.
No. As I said, the Democrats have been totally open and honest about their desire to enact single payer health care.By both parties.
IOW, none.Thompson got the same thoughts and prayers we dish out to shot school children.
Next
So Luigi used the second amendment solution. He sounds like your kinda guy.IOW, none.
Your side used the corpses of those little kids to advance your twisted political goals. Before they were even cold, your side was screaming at the top of their diseased lungs about Gun Control. Still are. Your side will use any excuse to further their sick, twisted, diseased agenda
Sick fucks, all of you. Eat shit
It's so hilarious to see Trumptards try to blame everything on Mexicans.
I wonder if Brian Thompson came up with this meme.
And introduce mediocre care.
I think we all know that if George Soros were shot today, you and the entire MAGA-verse would be jumping for joy.Your hypocrisy is blindingly scummy.
You say 'there is no justifying...' then you go on and try to justify it.
Go fuck yourself. A man is dead because of scumbags like you. Too weak and too immoral to condemn murder...
I despise dimocrap scum with every fiber of my being. You deserve it. E
I use "Mexicans" as a rhetorical shortcut.Why are you assuming that the illegal aliens are Mexicans?
Those developed countries with UHC live longer than we do.And introduce mediocre care.
