FACT CHECK: Health insurer profits not so fat

FACT CHECK: Health insurer profits not so fat (Full Version)

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Sanity -> FACT CHECK: Health insurer profits not so fat (10/26/2009 11:18:55 AM)
Looks like we've been getting some bad spin. quote: WASHINGTON (AP) - 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. In the health care debate, Democrats and their allies have gone after insurance companies as rapacious profiteers making "immoral" and "obscene" returns while "the bodies pile up." Ledgers tell a different reality. Health insurance profit margins typically run about 6 percent, give or take a point or two. That's anemic compared with other forms of insurance and a broad array of industries, even some beleaguered ones. Profits barely exceeded 2 percent of revenues in the latest annual measure. This partly explains why the credit ratings of some of the largest insurers were downgraded to negative from stable heading into this year, as investors were warned of a stagnant if not shrinking market for private plans. (Full article here).

slvemike4u -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 11:38:59 AM)
Yep....and more of that bad spin keeps popping up with alarming regularity [8\|]

kittinSol -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 11:53:38 AM)
Even more the reason to stimulate them by providing the insurers with a little bit of healthy competition then [;)] .

mnottertail -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 11:58:05 AM)
Sanity, is that pre or post lobbying payola and horse choking bonuses? Ron

Sanity -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 12:01:00 PM)
I don't know what Obamas take is, mnottertail. quote: ORIGINAL: mnottertail Sanity, is that pre or post lobbying payola and horse choking bonuses? Ron

Hillwilliam -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 12:01:02 PM)
That is why tort reform is so important... and congress has ignored it. If lawyes had theyr greasy little hands out of the healthcare mess, Expenses (that the insurers pay) would go down and their profits would go up even if they passed some of the savings on to us.

mnottertail -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 12:05:07 PM)
quote: ORIGINAL: Sanity I don't know what Obamas take is, mnottertail. quote: ORIGINAL: mnottertail Sanity, is that pre or post lobbying payola and horse choking bonuses? Ron Obama owns the auto manufacturers, and a few quasi-banks, he does not own health insurance yet....... Ron

Sanity -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 12:06:27 PM)
Then why the proposed mandate that every citizen be forced to to pay up? quote: ORIGINAL: mnottertail Obama owns the auto manufacturers, and a few quasi-banks, he does not own health insurance yet....... Ron

mnottertail -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 12:08:11 PM)
quote: ORIGINAL: Sanity Then why the proposed mandate that every citizen be forced to to pay up? quote: ORIGINAL: mnottertail Obama owns the auto manufacturers, and a few quasi-banks, he does not own health insurance yet....... Ron what proposed mandate by Obama is that, please? Ron

RUaPhdStudent -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 12:24:39 PM)
Measly profits are the result of waste and inefficiencies, not of a fundamentally beleaguered industry or business model. We should be removing borders from health care plans, not adding a bureaucratic "public option." Imagine health plans from California competing for customers in Michigan. Competition: everyone agrees it's good.

DemonKia -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 12:30:52 PM)
FR, after read thru Hmmmmm. Okay, I read that bit in the news yesterday & I've been mullin' this over. One way to perceive that particular piece of news is that, despite all the maximizing profits tactics: jacking up rates & / or dumping sick people, no pre-existing conditions, turning down treatments routinely, etc, etc. Despite all that, the health insurance companies are still only so-so at makin' a profit. Despite the lobbyists. Despite all the political campaign contributions. Despite being able to keep regulation of health-care insurance fragmented out to the 50 states rather than having any kind of centralized, consistent regulation . . . . . . Health insurers aren't keepin' up with the 'big kids' in the health-care industry, the pharmaceutical companies & the medical parts suppliers & etc . . ..... & health insurance is minor-league jack-shit compared to the bankers, tho' maybe that's about to change. I think they need to hire better lobbyists & congress-critters . . . . . [;)] & [/cynic]

mnottertail -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 12:31:22 PM)
california healthplans wouldn't compete in michigan for shit. why would a public option make insurers less competitive? Ron

rulemylife -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 12:35:16 PM)
quote: ORIGINAL: Hillwilliam That is why tort reform is so important... and congress has ignored it. If lawyes had theyr greasy little hands out of the healthcare mess, Expenses (that the insurers pay) would go down and their profits would go up even if they passed some of the savings on to us. You keep posting this without a single fact. The last time you did I gave you links showing that the total impact of tort reform would be less than one-half of one percent. Care to dig up anything to prove that wrong?

NihilusZero -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 12:37:23 PM)
quote: ORIGINAL: Sanity Looks like we've been getting some bad spin. quote: WASHINGTON (AP) - 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. So the insurance industry is only the seventh most profitable enterprise in the country? Well, that changes everything!!

rulemylife -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 12:39:13 PM)
quote: ORIGINAL: Sanity Then why the proposed mandate that every citizen be forced to to pay up? Because, while the argument has been that we shouldn't have to pay for the uninsured under a government plan the reality is we already are in higher premiums.

Lucylastic -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 12:40:47 PM)
And most of the others are actually producing something, not taking bets on peoples lives. Their bosses also seem to be doing just fine, altho I am sure they would like more http://sickforprofit.com/ceos/

willbeurdaddy -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 1:20:46 PM)
quote: ORIGINAL: rulemylife quote: ORIGINAL: Hillwilliam That is why tort reform is so important... and congress has ignored it. If lawyes had theyr greasy little hands out of the healthcare mess, Expenses (that the insurers pay) would go down and their profits would go up even if they passed some of the savings on to us. You keep posting this without a single fact. The last time you did I gave you links showing that the total impact of tort reform would be less than one-half of one percent. Care to dig up anything to prove that wrong? Its been done several times.

rulemylife -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 1:27:58 PM)
quote: ORIGINAL: willbeurdaddy quote: ORIGINAL: rulemylife quote: ORIGINAL: Hillwilliam That is why tort reform is so important... and congress has ignored it. If lawyes had theyr greasy little hands out of the healthcare mess, Expenses (that the insurers pay) would go down and their profits would go up even if they passed some of the savings on to us. You keep posting this without a single fact. The last time you did I gave you links showing that the total impact of tort reform would be less than one-half of one percent. Care to dig up anything to prove that wrong? Its been done several times. No, it hasn't. Least of all by you. I've yet to see you provide any sources for anything you post.

mnottertail -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 1:29:40 PM)
quote: ORIGINAL: willbeurdaddy quote: ORIGINAL: rulemylife quote: ORIGINAL: Hillwilliam That is why tort reform is so important... and congress has ignored it. If lawyes had theyr greasy little hands out of the healthcare mess, Expenses (that the insurers pay) would go down and their profits would go up even if they passed some of the savings on to us. You keep posting this without a single fact. The last time you did I gave you links showing that the total impact of tort reform would be less than one-half of one percent. Care to dig up anything to prove that wrong? Its been done several times. no, it hasn't. ever. anywhere. perhaps, you should shed some light by providing links, so we can all be so well informed as you import to be. Ron

rulemylife -> RE: FACT CHECK: Health insurer profits not so fat (10/26/2009 2:05:03 PM)
quote: ORIGINAL: RUaPhdStudent We should be removing borders from health care plans, not adding a bureaucratic "public option." Imagine health plans from California competing for customers in Michigan. Competition: everyone agrees it's good. Except they will be the same companies providing those plans so you are decreasing competition, not increasing it. Study confirms health monopoly fears - MarketWatch

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