How much is too much profit for health insurance companies to make?
I keep hearing how some companies made billions in profits but how many billions worth of claims did they pay to earn that profit? The people that complain that they made billions in profit never say how much they had to spend to earn it. Apparently some people think they are supposed to pay for billions in claims and just break even? And those of you that want government supplied health care because it cuts out the insurance companies profits: Do you really think the US government would not have massive overhead costs? What does the government do now that is more efficient than the private sector, anything?
Politics - 17 Answers
Random Answers, Critics, Comments, Opinions :
1 :
More than 400% profits since the year 2001 is TOO MUCH. Especially since, during that same time period, hundreds of thousands of Americans lost their insurance because they simply could not afford the premiums anymore. It is repulsive that you are defending the insurance industry.
2 :
Medical insurance companies operate at about 30% profit. Medicare 1%. You do the math.
3 :
Most on the left don't know the difference between profit and profit margin.
4 :
They don't spend as much as you think they do on payouts. They have high power attorneys who are paid big bucks to fight patient cases. That's why people are angry because instead of working with patients they are fighting against them.
5 :
Profit would be money left over after costs. Yes they make billions in PROFIT every year. I agree that government is not the solution.
6 :
Don't really care how much they earn until their profits are hurting the general public. Insurance companies should build up reserves for the meager years, like every sane person should.
7 :
Any profit earned by a government mandate forcing everyone to buy a service is too much. Can't have competition without the ability to withdraw from a market, ie, not purchase insurance. We can all put an end to the profits in health insurance by not buying any.
8 :
According to Obama, when an insurance company makes enough profit to stay in business, that is too much profit. He wants complete control of the health care so he can have complete control of the people.
9 :
If you allow them to compete across state lines, competition will lower premiums and reduce their profits. Why isn't 0bowma looking to improve the existing system instead of creating a whole new one?
10 :
Ideally the companies shouldn't exist at all. If there was no insurance, doctors would not be charging the maximum price for all procedures (which they do under the current system because the insurance companies pay it.) If insurance were not in the equation, costs would be FAR lower and people could actually afford to pay cash for their health care or set up easy payment plans. We don't need the government to ADD to the big bureaucratic mess! We need to tear down the insurance system altogether.
11 :
anything over .01 cent is stealing from the people. lets pay someone to pay our bills. how stupid.
12 :
It amazes me how well Obama's propaganda works on the Lemmings. Why aren't they screaming about the amounts hospitals & doctors charge? That's where the high costs originate. Do you people really not understand the concept of insurance? They are not just a middle man they are INSURING you and there to pay the giant bills when you need it. Like when you wreck car. Are you all in grade school? Glenda: If insurance companies are so repulsive stop sending them your money every month I am sure they can survive without you. They are a BUSINESS not a charity like you airheads seem to think.
13 :
I really don't understand Americans and their paranoid ignorance.
14 :
They shouldn't make any profit, because they don't actually do anything. They are middle men.
15 :
When people who can't afford their ridiculous premiums and have to drop dead from lack of care.
16 :
They are making a profit while hospitals are closing their doors because of bankruptcy. They do spend a lot on lawyers to fight paying for their clients. Basically the proposed bill does just reform the current system; I would prefer a complete overhaul. invisibl said, "Why aren't they screaming about the amounts hospitals & doctors charge? That's where the high costs originate." Doctors and hospital fees are based on their bottom line. If they are not being paid enough to make a living and pay their bills, either by ins co or patients then they have to increase their fee to make up the difference.
17 :
For me, it is not the amount of money they make. It is they way they increase profits by the use of death panels to deny care. It surprises me that so many Americans seem not to be aware about Obama’s healthcare plans [a]. During the election, he campaigned for these changes stating that he felt it was unfair to have a system where insurance companies try to escape paying claims and was elected to bring in changes [b]. First of all, too many people do not know that Obama wants to make insurance more available to all. His system is similar to that which works in Holland, Taiwan [c] and Switzerland. It works there and private healthcare companies provide most the insurance to the people there. FACT - the USA spends more on healthcare PER PERSON than any other nation on the planet [d]. FACT – insurance companies admit that they push up costs, buy politicians and do not pay out for many claims when they should [e]. FACT - the US has higher death rates for kids aged under five than western European countries with universal health coverage [f]. That means that a dead American four year old would have had a better chance of life if they were born in Canada, France, the Netherlands, Cuba, Switzerland, Germany, Japan etc, all of which have universal health coverage. And no western European nation with universal healthcare has moved away from it. And the sad thing is, that the insurance companies have spent loads of money to fight these reforms [g] and loads of politicians are taking the thirty pieces of silver from them to fight the reforms, rather than fight for the health of the American people. Remember, I back my facts up with evidence. Those who say they are wrong tend not to. If they are wrong, e-mail me with proof and let me know.
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