Demonizing Health Insurers

  1. MikeNV profile image76
    MikeNVposted 6 years ago

    "The American Medical Association found that that Medicare's claim denial rate is higher than that of any other private insurer, and almost 70% higher overall than the private insurers' average denial rate."

    Yeah that's good news. The Government denying more claims than private insurers.

    "Health insurers' collective profit-margin is less than one-eighth that of drug companies and less than one-seventh that of companies that sell medical products or equipment. It's also less than that of medical facilities. Yet when was the last time you heard President Obama rail against greedy hospitals?

    The combined profits of America's ten largest health insurers are $8.3 billion. That's less than two-thirds of the profits of Wal-Mart alone, less than half of the profits of General Electric alone, and less than one-seventh of what Medicare loses each year to fraud. Health insurers collectively have one-eighth the profit-margin of McDonald's or Coke, one-ninth that of eBay, and one-fifteenth that of Merck."

    Can anyone prove this wrong?

    I suppose in America the only companies entitled to profits are those in the Oil and Banking Industries... and of course those who are outsourcing all their jobs to the Far East.

    Quick quiz: What do these enterprises have in common? Farm and construction machinery, Tupperware, the railroads, Hershey sweets, Yum food brands and Yahoo? Answer: They're all more profitable than the health insurance industry.

    Health insurers posted a 2.2 percent profit margin last year, placing them 35th on the Fortune 500 list of top industries. As is typical, other health sectors did much better - drugs and medical products and services were both in the top 10.

    Lots of people here who are on the Obama Demonization bandwagon have never worked in the Health Care Industry.  I have.  I worked for one of the Nations largest Health Insurers.  And the profit margins are a whole lot smaller than Team Obama wants you to believe.  Their targeting Health Insurance Companies as the reason Health Care is so expensive is entirely misguided and misplaced.

    Good thing Obamacare is shifting the burden of cost to the Youth of America.

    "Beginning in 2014, most Americans will be required to buy insurance or pay a tax penalty. That's when premiums for young adults seeking coverage on the individual market would likely climb by 17 percent on average, or roughly $42 a month, according to an analysis of the plan conducted for The Associated Press."

    Doesn't seem like much to a kid starting a career at a new company.  Pay off those student loans, kick in for grandpa's health care, save social security, and bail out the National Debt.  Too bad starting salaries are so low.  The Youth are our future and we need to ride them for every last penny they have!