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-   -   WTf, Health Insurance Companies (http://cellar.org/showthread.php?t=32639)

xoxoxoBruce 03-17-2017 12:00 AM

WTf, Health Insurance Companies
 
http://cellar.org/2017/bertolini.jpg

And Bertolini has the nerve to send me a letter saying my insulin I've been using successfully for years and they have been paying for, is not on their "formulary" and they won't pay for it unless I'm unsuccessful with two other drugs first, each of which will take me six months to test making adjustments on the fly. They must be good drugs because if I die they don't get paid every month, right? Ferris, anyone?:rolleyes:

Griff 03-17-2017 06:39 AM

What's this overhead you speak of?

glatt 03-17-2017 09:37 AM

One of the most beautiful things about Obamacare is the Medical Loss Ratio 80/20 rule.

Insurance companies have to spend at least 80 percent of premium dollars on claims and activities to improve health care quality. 85% in large group markets.

So sure, these CEOs are getting huge salaries, but patients as a whole are still required by law to get 80% of their premium money back in actual health care. The profits and overhead of the insurance companies are capped by federal law.

BigV 03-17-2017 10:25 AM

I know of that rule, and it seems like a good rule.

Then I got to thinking, I know where I recognize that from. I remember driving through Nevada and seeing huge billboards proclaiming how appealing their payout ratios are. "Come gamble here, our slots payout 99%!". And if there's a money factory out there more efficient than a building full of slot machines, I don't know what it is. But there's a vastly greater margin allowed by that rule for insurance companies than the rates touted for the slots. You do the math.

Put a dollar in. Get $0.80 back in health care.

Something is wrong with that picture.

glatt 03-17-2017 11:01 AM

Sure. But it used to be completely unregulated and you would put a dollar in and get less than 80 cents back.

Flint 03-17-2017 11:30 AM

I can no longer imagine having an intelligent debate with anyone who thinks that unfettered, pure profit-driven capitalism will ever produce the best results--i.e. quality of life, humane living conditions, compassion and respect for our fellow man.

I've concluded that some people just don't share those goals.

It's not political, they're just bad people.



Sounds horrible, but, hey--prove me wrong!

Happy Monkey 03-17-2017 11:37 AM

I think that some people believe it in a religious way. Still won't be conducive to intelligent debate, though.

Flint 03-17-2017 11:39 AM

The political divide is complete and irrevocable.

classicman 03-18-2017 07:22 AM

Quote:

Originally Posted by glatt (Post 984469)
One of the most beautiful things about Obamacare is the Medical Loss Ratio 80/20 rule.
Insurance companies have to spend at least 80 percent of premium dollars on claims and activities to improve health care quality. 85% in large group markets.

IIRC only two companies were outside that rule BEFORE the PPACA.

footfootfoot 03-18-2017 10:44 AM

If Cordani paid himself 2 million a year he could afford to hire 1565 people at $42,068.

What if corporate welfare was tied to a reasonable min/max salary ratio and CEOs who voluntarily capped their incomes at, say, 2 million bucks had a capped income tax limit of 10%? How might that affect the econony?

Clodfobble 03-18-2017 01:55 PM

Still better to get paid $54 million and pay back $27 million in tax, than it is to get paid $2 million and pay back $200,000 in tax.

footfootfoot 03-19-2017 04:35 PM

Depends how narrow your vision is.

ThomasTrig 04-05-2017 01:30 PM

Let me guess, most of this money comes from prescription medication right? Yeah this is called making money off killing people slowly. I can't believe some people here are actually 'defending' this (Obamacare ?? Really??). The issue is not just about numbers here, the issue is how they are making it.

BigV 04-05-2017 02:17 PM

Good guess, do you have some way to support your theory?

ThomasTrig 04-06-2017 01:37 PM

Too many
 
Quote:

Originally Posted by BigV (Post 986143)
Good guess, do you have some way to support your theory?

Theory? . . . Wow . . . shocked to say the least . . .

Too many to list.

Google it on your own: "big pharma evidence".


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