Name a Gov program that's not broke

[rockwerks]

Far from naive. But I do have family members in the business who do know a whole lot more than you or I. What does my profession have to do with this? No one said that insurance companies will not make money. They will just have to run a tighter business.

I have run my own business and have worked in the insurance industry for many years in the past. (10 years). Many companies do show good net profits but that is because the diversify the book of insurance the underwrite. auto, boat, life, health, home and monies made on investments.

In the past few years insurance companies that underwrite health insurance have gotten out of the game due to declining net profits in the field. If this new plan is to be soooo good the congress should be required to use it also

[domwilson]

This site might be able to answer some questions... http://www.healthcarereformmyths.org...mMyths.php#A20

[domwilson]

and another... http://aarp.convio.net/site/PageNavi...Myths_vs_Facts

[domwilson]

I have run my own business and have worked in the insurance industry for many years in the past. (10 years). Many companies do show good net profits but that is because the diversify the book of insurance the underwrite. auto, boat, life, health, home and monies made on investments.

In the past few years insurance companies that underwrite health insurance have gotten out of the game due to declining net profits in the field. If this new plan is to be soooo good the congress should be required to use it also

I just read something this morning that they will be required to. I'll see if I can find it.

[domwilson]

In senator Kennedy's "Affordable Health Choices Act" there was a section 3210 that specifically denied federal employees from participating in the government program. But somehow that section has magically disappeared. Currently congressmen use the same system that all federal employees supposely enjoy.

[rockwerks]

Health care insurance providers on average net about 3.3% profit that is all, yes it can amount to millions but they also employ thousands.

http://biz.yahoo.com/p/522peeu.html

As you can see in the above listing of insurance companies that some are making good money while most are in the 3% or under profit margin.

Meaning that if no new clients come on board and payouts/claims go up it would be easy to see a negative year.

Obama said that insurance companies are making record profits...WRONG!!!

http://www.politifact.com/truth-o-meter/statements/2009/jul/23/barack-obama/health-insurance-company-turned-profit-not-rec/

Obama said that when he got into office there would be change! no more borrow and spend government......not quite.

http://blog.heritage.org/2009/08/28/obama%E2%80%99s-tripling-of-the-national-debt-in-pictures/

Even without this boondoggle of health care reform we will be sitting on the largest percentage of GDP in US history and with health care you can add another 2 trillion in the next few years.

The GAO stated that the proposed health care reform act would not be sustainable as presented.

[domwilson]

Health care insurance providers on average net about 3.3% profit that is all, yes it can amount to millions but they also employ thousands.

http://biz.yahoo.com/p/522peeu.html

As you can see in the above listing of insurance companies that some are making good money while most are in the 3% or under profit margin.

I recognize and salute your finding of this. But my statement was "This can reduce costs to those who want to keep their private insurance by forcing insurers to reduce costs, waste and poor patient management in order to stay competitive with the government program." This means "running a tighter ship."

[domwilson]

Another reason why their profits might not have been so great... http://www.nhcaa.org/eweb/DynamicPag...oblemOfHCFraud

http://www.mercyhealthplans.com/about/fraudandabuse.aspx

[rockwerks]

I recognize and salute your finding of this. But my statement was "This can reduce costs to those who want to keep their private insurance by forcing insurers to reduce costs, waste and poor patient management in order to stay competitive with the government program." This means "running a tighter ship."

Lets see reduce costs............HHHHHHHHHHMMMMMMMMMMM. well the paper trail they all use is required by the gummit to file in a strict regimented manner, I guess they could all close their offices and just go 100% to online and fire many people, that would help! Ummm the insurers dont have any recourse in patient management that is the doctors and or hospitals job. The insurance companies job is to pay claims. I guess they could stop paying claims and restrict what is covered.

As I said before, some companies will just fold up the health care insurance programs they have now and stick with more profitable forms of insurance.

[domwilson]

So you're saying that they cannot reduce costs? Waste? And they have no say so in patient treatments? That the only way to cut costs are to fire people?

[domwilson]

On the profits...http://money.cnn.com/magazines/fortu...ed_Care/1.html

http://money.cnn.com/magazines/fortune/fortune500/2008/industries/223/index.html

As you are aware, there are many factors that affect profit. Such as losses, administrative expenditures, investments, etc.

Many large corporations do "creative accounting" to fit their needs. Whether it be to attract shareholders, taxes, etc. My point originally was to motivate these insurance companies to operate more efficiently. Businesses have to adapt to survive in changing markets. Admittedly, they are only part of the equation for fixing our healthcare system.

[Steven Vaccaro]

In large corps the top few guys reap all the $ benefits. In government run business all the crony jobs reap the benefits. Whats better?

[domwilson]

Neither. From some of the reading I've been doing, the bill is not finalized and there will be some provisions to stem abuses. I'm not completely for the current bill as there are many issues that still need to be addressed. What I am for is Healthcare reform.

[rockwerks]

Neither. From some of the reading I've been doing, the bill is not finalized and there will be some provisions to stem abuses. I'm not completely for the current bill as there are many issues that still need to be addressed. What I am for is Health care reform.

There is still no viable way to fund this project without an across the board tax increase along the lines of 5% to 10% according to the budget office of congress. You will see that this administration will go from borrow and spend in record amounts to tax and spend when no more money can be found. I am for health care reform as long as my great grand children dont get stuck footing the bill.

All these wonderful programs are a great idea in theory but ALL have had and will have a negative effect on the economy and stability of this country in the future

[domwilson]

There is still no viable way to fund this project without an across the board tax increase along the lines of 5% to 10% according to the budget office of congress. You will see that this administration will go from borrow and spend in record amounts to tax and spend when no more money can be found. I am for health care reform as long as my great grand children dont get stuck footing the bill.

All these wonderful programs are a great idea in theory but ALL have had and will have a negative effect on the economy and stability of this country in the future

As I stated before, the bill is not finalized as there are options being explored...

http://finance.senate.gov/Roundtable/complete%20text%20of%20financing%20policy%20options.pdf