Collarspace Discussion Forums


Home  Login  Search 

Top five health insurers posted 56 percent profit gains in 2009


View related threads: (in this forum | in all forums)

Logged in as: Guest
 
All Forums >> [Community Discussions] >> Dungeon of Political and Religious Discussion >> Top five health insurers posted 56 percent profit gains in 2009 Page: [1]
Login
Message << Older Topic   Newer Topic >>
Top five health insurers posted 56 percent profit gains... - 2/16/2010 3:34:23 AM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline 		Health care in America continues to decline in the interest of supporting obscene profits and bonus for the very rich.

Top five health insurers posted 56 percent profit gains in 2009 | Raw Story

If no health care overhaul passes Congress, health insurers may be in for a windfall -- and one far larger that most Americans probably realize.

According to a study by a pro-health reform group published Thursday, the nation's largest five health insurance companies posted a 56 percent gain in 2009 profits over 2008. The insurers including Wellpoint, UnitedHealth, Cigna, Aetna and Humana, which cover the majority of Americans with insurance.

The insurers' hefty profit gains came even as 2.7 million more Americans lost their insurance coverage due to the declining economy.

"Insurers will - perversely - try and blame the economy for their record-breaking fortunes, saying employers have been shedding jobs and therefor dropping insurance coverage, leading to a decrease in customers," a press release for Health Care for America Now said.

"And they're certainly right in the sense that less jobs equals less employer-based health coverage, but that obscures the fact that employers have been steadily dropping health coverage for more employees for 15 years - even during good times - because the insurance industry's prices keep skyrocketing much faster than inflation."

"None of the excuses can explain away the basic reality that insurers make more money when they insure less people. They can pay their CEOs more ("administrative costs" rose this year) when they can charge the healthy exorbitant prices and drop or deny these loyal customers when they become sick and therefore expensive," the release added.

http://rawstory.com/2010/02/top-health-insurers-posted-57-percent-profit-gains-2009/
Profile   Post #: 1
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 5:59:54 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		the idea IS to make money.

right?


the whole reform thing  is a fraud.  Why?   Because we dont allow foreign countries to sell here.  Think about it.  They have it together- proper management.  So let them manage.  Let them compete.


I just don't know how to break the bad news to you.  Shhh.   The deck is stacked.

(in reply to Brain)
Profile   Post #: 2
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 6:13:43 AM   
DarkSteven


Posts: 28072
Joined: 5/2/2008
Status: offline 		This should not be possible, that prices and profit margins continue to climb while people are complaining that it is unaffordable.  If it's that profitable, there should be numerous startups competing for business.

I suspect some kind of barriers to starting an HMO.  Legislatively created.


_____________________________

"You women....

The small-breasted ones want larger breasts. The large-breasted ones want smaller ones. The straight-haired ones curl their hair, and the curly-haired ones straighten theirs...

Quit fretting. We men love you."

(in reply to pahunkboy)
Profile   Post #: 3
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 6:33:57 AM   
mnottertail


Posts: 60698
Joined: 11/3/2004
Status: offline 		just like when the last gas crisis was, and the energy companies made record profits....

Yeah, nothing broken in our system.

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30


(in reply to DarkSteven)
Profile   Post #: 4
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 6:48:38 AM   
DomImus


Posts: 2004
Joined: 3/17/2009
Status: offline 		Totally erroneous if you do not factor in profit margins.

If I made a dollar last year and make $1.56 this year I have realized a 56% increase.

Next!





_____________________________

"Regret for the things we did can be tempered by time; it is regret for the things we did not do that is inconsolable." Sidney J. harris

(in reply to Brain)
Profile   Post #: 5
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 6:51:24 AM   
mnottertail


Posts: 60698
Joined: 11/3/2004
Status: offline 		What the fuck?

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30


(in reply to DomImus)
Profile   Post #: 6
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 6:57:09 AM   
domiguy


Posts: 12952
Joined: 5/2/2006
Status: offline 		I believe that virtually every country that has a socialized health system has not for profit health ins companies.

They have severe limitations on law suits, run it in a fashion similar to how we run medicare with pre ordained caps placed on what doctors get paid for services.

How much should companies profit off something as basic and necessary as health care?

Doctors make less. Malpractice insurance costs go down dramatically. Medical school costs are subsidized by the gov't. Doctors who now pursue their craft due so because they want to be doctors not because they are chasing the almighty dollar. They still get paid but there is somewhat of an altruistic reward in being a doctor which should be enough to draw the dedicated to this profession.

You have a system where everyone has an health ins I.D. card. Your picture is on it, and all of your health care history is available when the card is logged in.

If there are any profits left they are immediately forwarded to me.


_____________________________



(in reply to mnottertail)
Profile   Post #: 7
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 7:00:58 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		but don't they have a right to have lots of money?

(in reply to domiguy)
Profile   Post #: 8
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 7:18:41 AM   
DarkSteven


Posts: 28072
Joined: 5/2/2008
Status: offline
quote:

ORIGINAL: DomImus

Totally erroneous if you do not factor in profit margins.

If I made a dollar last year and make $1.56 this year I have realized a 56% increase.

Next!



Good point, DonImus.

Ron, DI is saying that the companies did not post profit margins of 56%, which is how I had misread the article.  Their profit margins are 56% higher than last year, but it does not state what those margins actually WERE. If they were 2% last year and 3% this year...


_____________________________

"You women....

The small-breasted ones want larger breasts. The large-breasted ones want smaller ones. The straight-haired ones curl their hair, and the curly-haired ones straighten theirs...

Quit fretting. We men love you."

(in reply to DomImus)
Profile   Post #: 9
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 7:30:44 AM   
mnottertail


Posts: 60698
Joined: 11/3/2004
Status: offline 		well, after the billions laid out in lobby and humongous bonuses for top execs, bailouts and whatnot, my heart pumps purple piss for them if they little over halfed again their profit margins.

The what the fuck has to do with the entire context here, Steven.

< Message edited by mnottertail -- 2/16/2010 7:31:58 AM >

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30


(in reply to DarkSteven)
Profile   Post #: 10
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 7:36:08 AM   
Jeffff


Posts: 12600
Joined: 7/7/2007
Status: offline 		Great Ron, now that you have posted it here, your heart pumping purple piss, is a pre-existing condition.


HMODom

_____________________________

"If you don't live it, it won't come out your horn." Charlie Parker

(in reply to mnottertail)
Profile   Post #: 11
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 1:18:15 PM   
windchymes


Posts: 9410
Joined: 4/18/2005
Status: offline
quote:

ORIGINAL: Jeffff

Great Ron, now that you have posted it here, your heart pumping purple piss, is a pre-existing condition.


HMODom


That, and it sounds like you have the basis for a really profitable lawsuit, cause somebody hooked your plumbing up backwards!



_____________________________

You know it's going to be a GOOD blow job when she puts a Breathe Right strip on first.

Pick-up artists and garbage men should trade names.

(in reply to Jeffff)
Profile   Post #: 12
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 1:59:51 PM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline
I don't know what you're talking about. Most people believe their profits are excessive because it's true and it is.

quote:

ORIGINAL: DomImus

Totally erroneous if you do not factor in profit margins.

If I made a dollar last year and make $1.56 this year I have realized a 56% increase.

Next!






(in reply to DomImus)
Profile   Post #: 13
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 2:15:52 PM   
MrRodgers


Posts: 10542
Joined: 7/30/2005
Status: offline
quote:

ORIGINAL: DarkSteven

This should not be possible, that prices and profit margins continue to climb while people are complaining that it is unaffordable.  If it's that profitable, there should be numerous startups competing for business.

I suspect some kind of barriers to starting an HMO.  Legislatively created.

You've been reading the writing on the wall...whatever one thinks of 'capitalism' our brand has turned our culture into one almost all about money. Our govt., acting as always...in the interest of the capitalists has allowed the overall market to become far too concentrated, vertically integrated and...very, very profitable.

Hence this report cited in this OP, which equals about 18 times inflation. Overall, insurance cos. are making 22% return on all of their money and what we get from them in public (media, news etc.) are outright lies.

Who wants the money ? The insurance cos., the Hosp. Corp., the doctors and their 'services,' the drug cos. When one adds all of the 'profits' or 'income' for each of these 'markets' is the reason we are paying $2 for every $1 the other industrial nations are paying and for the pleasure of being generally sicker and dying younger.

(in reply to DarkSteven)
Profile   Post #: 14
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 6:10:08 PM   
DomImus


Posts: 2004
Joined: 3/17/2009
Status: offline
quote:

ORIGINAL: Brain
I don't know what you're talking about. Most people believe their profits are excessive because it's true and it is.


I know you don't understand. I'm talking facts.

Most people are full of shit, then. Read it and weep.

"Overall, the profit margin for health insurance companies was a modest 3.4 percent over the past year, according to data provided by Morningstar. That ranks 87th out of 215 industries and slightly above the median of 2.2 percent. By this measure, the most profitable industry over the past year has been beverages, with a 25.9 percent profit margin. Right behind that were healthcare real-estate trusts (firms that are basically the landlords for hospitals and healthcare facilities) and application-software (think Windows). The worst performer was copper, with a profit margin of minus 56.6 percent."

You read some article on the web and bang - off to cut and paste and post the link. You don't bother to do any research. You don't bother to independently verify facts. What's that old saying? "Better to remain silent and let others think you are a fool than to open your mouth and remove all doubt."?





_____________________________

"Regret for the things we did can be tempered by time; it is regret for the things we did not do that is inconsolable." Sidney J. harris

(in reply to Brain)
Profile   Post #: 15
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 6:12:25 PM   
DomImus


Posts: 2004
Joined: 3/17/2009
Status: offline
quote:

ORIGINAL: mnottertail
What the fuck?


If I had the capacity to explain subjects in a manner that you could understand, I would.

But I lack that capacity.




_____________________________

"Regret for the things we did can be tempered by time; it is regret for the things we did not do that is inconsolable." Sidney J. harris

(in reply to mnottertail)
Profile   Post #: 16
RE: Top five health insurers posted 56 percent profit g... - 2/16/2010 6:24:08 PM   
DarkSteven


Posts: 28072
Joined: 5/2/2008
Status: offline
quote:

ORIGINAL: Brain

I don't know what you're talking about. Most people believe their profits are excessive because it's true and it is.

quote:

ORIGINAL: DomImus

Totally erroneous if you do not factor in profit margins.

If I made a dollar last year and make $1.56 this year I have realized a 56% increase.

Next!





"It's true and it is"?

Brain, DomImus went and pulled up a source stating that the margin was 3.4% (which implies that it was about 2.1% the prior year).  That's not at all excessive.

Please provide a source to counter instead of simply stating your opinion as though it counted as fact.


_____________________________

"You women....

The small-breasted ones want larger breasts. The large-breasted ones want smaller ones. The straight-haired ones curl their hair, and the curly-haired ones straighten theirs...

Quit fretting. We men love you."

(in reply to Brain)
Profile   Post #: 17
RE: Top five health insurers posted 56 percent profit g... - 2/17/2010 5:29:31 AM   
eyesopened


Posts: 2798
Joined: 6/12/2006
From: Tampa, FL
Status: offline
quote:

ORIGINAL: Brain


I don't know what you're talking about. Most people believe their profits are excessive because it's true and it is.

quote:

ORIGINAL: DomImus

Totally erroneous if you do not factor in profit margins.

If I made a dollar last year and make $1.56 this year I have realized a 56% increase.

Next!








Brain based on some of your recent posts you wouldn't know truth if it slapped you in the face. (Which, by the way, it has... on many occassions)

I worked for a BCBS company for many years.  We were set up as a mutual insruance company and not for profit.  We did not make one single dime on premiums.  We made money like banks do.  You deposit your money and the bank pays YOU.  How does this work you may ask?  Through the use of your money.  At the bank, you still have your money plus interest paid to you.  In health insurance you may have a million dollars worth of coverage for a mere $60 a month.  You would have to pay monthly premiums for 1,388 years to equal the million dollars.

What is wrong with insurance is not the fact that they can make money on the use of your money but the fact that they can and do disallow treatments, services, clinical trials, and can flat out refuse to insure you based on things like not having continuous coverage or pre-exisitng conditions. 



_____________________________

Proudly owned by InkedMaster. He is the one i obey, serve, honor and love.

No one is honored for what they've received. Honor is the reward for what has been given.

(in reply to Brain)
Profile   Post #: 18
Page:   [1]
All Forums >> [Community Discussions] >> Dungeon of Political and Religious Discussion >> Top five health insurers posted 56 percent profit gains in 2009 Page: [1]
Jump to:





New Messages No New Messages
Hot Topic w/ New Messages Hot Topic w/o New Messages
Locked w/ New Messages Locked w/o New Messages
 Post New Thread
 Reply to Message
 Post New Poll
 Submit Vote
 Delete My Own Post
 Delete My Own Thread
 Rate Posts




Collarchat.com © 2025
Terms of Service Privacy Policy Spam Policy

0.078