Now If We Only Had a Teleprompter

[somarco]

Just found this. Looks like the Obamahouse has a website devoted solely to attacking health insurance companies.

The map shows them targeting 4 states (MI, CT, CA and ME).

We certainly hear a lot from Winter and all the Caleefornya crew, but can't say I have heard much about the 56% increase in MI.

 

[stuy119]

Re: Now if We Only Had a Teleprompter . . .

Just did the math. If 100% of the "profit" attributed to Anthem/Well Point last year was based on CA enrolled, the average insured would save $280 monthly if 100% of the profit was refunded to customers. This is based on 800,000 insureds, and a $2.7 billion profit (no way I'm including the sale of another business in that profit).

If we expand this to the approximately 6,000,000 insured under Well Point, we're looking at a refund of $37.50 per month to each and every insured to get Well Point to 0% profit. $37.50 per month is what Well Point is "taking" from each and every one of their customers on a monthly basis to deserve this treatment.

I can fully guarantee you, without looking, that there are industries who are unfairly robbing the public each and every month for a MUCH larger sum of money than Well Point. And let's not forget that Well Point is only insuring 5% of the country.

What a crock!

 

[Crabcake Johnny]

Re: Now if We Only Had a Teleprompter . . .

Admittedly I can get caught up in the "look how much the CEO's are making" emotional argument. But without doing the math, if the CEO's took $1 a year pay and put their entire salary back into premium reduction I'm guessing it wouldn't even be a noticeable dent.

 

[somarco]

Re: Now if We Only Had a Teleprompter . . .

John, I did the math a couple of years ago when Wal-Mart had a target on their back over health insurance. Can't find the post, but if the top 15 or so execs of WM worked for $0 and used that money toward increasing pay (or buying health insurance) for their employees, it would add something like $6 per month to everyone's check.

Stuy, I didn't bother to go dig through to see where you got your numbers, but the $280 figure seems way high. I think you missed something.

 

[stuy119]

Re: Now if We Only Had a Teleprompter . . .

Stuy, I didn't bother to go dig through to see where you got your numbers, but the $280 figure seems way high. I think you missed something.

No, I took the entire profit of Well Point and divided it by the amount of insureds ONLY in California. Not over their entire book (that was the 2nd paragraph).

It works to show just how ridiculous the claims are that insurance companies are evil. Even with a company making nothing, most people won't get free insurance.

 

[Crabcake Johnny]

Re: Now if We Only Had a Teleprompter . . .

So here's a question no one's asked: If we had no health care system and were at the drawing board - whether proposed by either party how many people would be behind our current system:

"Ok Americans here's the plan. Private companies will get into the health insurance business. You'll have to fill out an application based on your current and past health. Healthy people will get coverage, those with small conditions will have their rates increased or conditions excluded and everyone else will be declined. Oh, and every 4 to 8 years your premiums will double. Oh, and almost forgot, they have 2 years to review a claim and can cancel your coverage if you omitted any information from the application. We'll call for a floor vote in a week."

 

[somarco]

Re: Now if We Only Had a Teleprompter . . .

I took the entire profit of Well Point and divided it by the amount of insureds ONLY in California.

Then that figure is inflated. To be fair, you need to look at their profit on health insurance operations in CA only and even that will be exaggerated. I really don't think there is any carrier out there making $200+ per month profit on a per member basis.

John, your proposal makes as much sense as this.

The government will provide a death benefit and lifetime retirement benefit for every worker in America and their spouse. Over your working lifetime you will contribute a small percentage of your income that will be matched dollar for dollar by your employer.

We will not hold those deposits in an account for you, nor will we invest them in anything. Rather, we will use your money taken from your paycheck and use it to pay people who have already retired.

At age 65 you will be able to collect a monthly check, equal to a pre-determined percentage of your average annual earnings for as long as you live. Those who are married will collect a higher monthly benefit than those who are single. When you die we will pay $255 toward the cost of your funeral. If you die before reaching age 65 you get nothing and there are no refunds of the amount you have paid in.

If you have a surviving spouse, they will get half of what you would have received had you lived. If you die one month after the initial benefit check and do not have a surviving spouse there are no refunds.

If you are fortunate enough to live a long life, you might get back 100% of what you have paid in, but the chances of that are slim. Most, if they get anything at all, will collect half of what they paid in.

If you are white you have a much better chance of collecting than if you are black.

How does this sound so far?

 

[Cali man]

Re: Now if We Only Had a Teleprompter . . .

Lets be real the government will attack anything they can get their hands on. I wish for once we could get good fair government.

http://www.mycaliforniainsurance.info/

 

[stuy119]

Re: Now if We Only Had a Teleprompter . . .

Then that figure is inflated. To be fair, you need to look at their profit on health insurance operations in CA only and even that will be exaggerated. I really don't think there is any carrier out there making $200+ per month profit on a per member basis.

That's the point - as inflated as the numbers are, the profit STILL isn't so obscene that it would justify action if it were in many other major economic sectors such as automobiles or interest on home mortgage.

But since it's health insurance, someone must pay to keep BO in the White House!