It should be no wonder why Ralph Nader wants America to have Medicare For All with participation in it for private health insurance companies not included.
But at least we don't have those commie death panels.Cuts need to be found elsewhere. Anyway, it's more important than ever to get on the Republican Health Care Plan--Don't Get Sick! Or Get Hurt! I can only think of changing to a Medicare For All plan, so the private insurance companies and their lobbyists can be happy about being allowed to participate in it.
Cuts need to be found elsewhere. Anyway, it's more important than ever to get on the Republican Health Care Plan--Don't Get Sick! Or Get Hurt! I can only think of changing to a Medicare For All plan, so the private insurance companies and their lobbyists can be happy about being allowed to participate in it.
Doesn't the ACA limit the insurance companies profits? Did the republicans get rid of that or did the companies just jack up premiums to increase profits?
Yep, jack up the premiums. Another lesson of the law of unintended consequences when you try to patch a horrible system instead of creating a functioning system.Doesn't the ACA limit the insurance companies profits? Did the republicans get rid of that or did the companies just jack up premiums to increase profits?
Thanks for the explanation. Our gov't is horrible about preventing loopholes.Yep, jack up the premiums. Another lesson of the law of unintended consequences when you try to patch a horrible system instead of creating a functioning system.
They did not cap profits, but they did force them to meet an 80 to 85% medical loss ratio. This is the percent of premiums spent on medical care. For perspective, BC/BS back when they were a real non-profit spent about 95%. Medicare spends 98%.
Prior to the ACA some for-profit insurance was down to the 60% range. The insurers fought against this in the law and it was one of the few battles they lost. But, I suspect they gave in because they knew they had a work-around.
If they are not profit-capped but only limited to a percentage of premiums, instead of controlling costs they benefit by raising costs in the right contracts. This is how you can get insurance paying $100000 for an infusion that might only cost $20000 somewhere else if they are contracted with the right people. On the other hand, they will fight a $20 prescription in other cases.
So, if insurers paid out 1000 one year and then 1500 the next, they can justify raising premiums from 1200 to 1800. Then they get a profit increase from 200 to 300. Therefore, they are better off if costs rise.
I'm in the wrong business. That said, I wouldn't have the heart, or lack thereof, to deny very many people help if they needed it.Yep, jack up the premiums. Another lesson of the law of unintended consequences when you try to patch a horrible system instead of creating a functioning system.
They did not cap profits, but they did force them to meet an 80 to 85% medical loss ratio. This is the percent of premiums spent on medical care. For perspective, BC/BS back when they were a real non-profit spent about 95%. Medicare spends 98%.
Prior to the ACA some for-profit insurance was down to the 60% range. The insurers fought against this in the law and it was one of the few battles they lost. But, I suspect they gave in because they knew they had a work-around.
If they are not profit-capped but only limited to a percentage of premiums, instead of controlling costs they benefit by raising costs in the right contracts. This is how you can get insurance paying $100000 for an infusion that might only cost $20000 somewhere else if they are contracted with the right people. On the other hand, they will fight a $20 prescription in other cases.
So, if insurers paid out 1000 one year and then 1500 the next, they can justify raising premiums from 1200 to 1800. Then they get a profit increase from 200 to 300. Therefore, they are better off if costs rise.
Surging Hospital Prices Are Helping Keep Inflation High
A 7.7% increase in prices at hospitals last month was the highest in 13 years
One reason U.S. inflation is still high: Increases in prices for procedures to prop open clogged arteries, provide intensive care for newborns and biopsy breasts.
Hospitals didn’t raise prices as early in the pandemic as supermarkets, retailers and restaurants. But they have been making up ground since then. Their increases have contributed to stubbornly high inflation readings from the consumer-price index, which in April increased 3.4% from a year ago.
Hospital prices specifically jumped 7.7% last month from a year ago, the highest increase in any month since October 2010, the Labor Department said Wednesday.
Among the procedures with hefty recent price increases are angioplasties placing stents in arteries to improve blood flow, which grew $670, or 4.5%, to $15,640 in the first three months of the year from the same period a year ago, according to Turquoise Health.
Intensive care of newborns rose during the same period by roughly $200 to $400, or more than 5%, to as much as $7,939 a day, depending on the specific kind of care, according to Turquoise, which analyzed for The Wall Street Journal prices charged by more than 300 hospitals as published by major commercial health insurers. Prices are an average, weighted for hospital size.
Prices for biopsies of the breast using a needle increased $220 during the period, or 4.6%, to $5,027, the Turquoise analysis found.
For patients and their employers, the increases have meant higher health-insurance premiums, as well as limiting wage hikes.
Nationalize? No, that would be a horrible idea IMO. Single payer system =/= nationalize and has much better outcomes.Corporate greed has destroyed the U.S. The only way out of this is to nationalize industries such as healthcare.