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Originally Posted by Torch
The insurance companies donate millions of dollars to those repubs. They deny health care to people with pre-existing conditions. Some deny women on a pre-existing condition such as having had a C section delivery. The health insurance companies enjoy an anti-trust law and they PROFIT more than 30pct. Almost no other industry enjoys that kind of profit. A co-worker's mother recently was diagnosed with a very serious illness. She had paid for long term care insurance for years. She was so weak she could not care for herself and could not leave her house without assistance. Her claim was initially denied by her insurance company. Her son retained a lawyer and after several months of not paying the insurance company gave in and paid. The insurance company's tactics paid off for them. She only lived a couple of months after they agreed to pay and only under the threat of litigation.
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It's called lobbying and it's acceptable practice for the trial lawyers to contribute tens of millions of dollars to Democrats every election year isn't it? I just love the way the horse of progressives and nanny government proponents rides one way.
Your health insurance profit margin stats are just not correct sir. The profit margins are more like 2.2% well below law firms (30%), Apple Computers (34%), Coca Cola (23.8%) McDonalds USA (20.85%) Exxon Mobil (9.47%). The latter pays a hefty effective tax rate of 49%. Why isn't the Democratic leadership crying foul over law firms and Apple?
University of Michigan public health professor Dean G. Smith notes that; "insurance firms generally aim for profit margins in the 2 percent neighborhood."
Blue Cross Blue Shield of Michigan was actually $144.9 million in the red last year! In 2008 Blue Cross Blue Shield of Alabama recorded a profit margin of less than half of 1%. Humana posted a third quarter profit of 4% overall. Humana irked legislators by sending out letters to seniors warning that the reforms would reduce Medicare benefits.
Please share with us the health insurance company that posted 30% profits.
In case you don't know Health insurance companies are a for profit entity unlike Medicare, Social Security, USPS and Amtrak. The government does not answer to shareholders so there is no incentive to operate for profit. A bad year. No problem, stick it to the taxpayer. Insurance companies have to turn a profit first and foremost to cover claims. Insurance is all about actuarials. It logically follows that the entitlement mob will be whining about equity in automobile and life insurance next.
Nancy and Harry talk a good game about being in favor of competition but in reality they are anti competition.
Fact: The government prohibits insurance companies from engaging in interstate competition.
Fact: The government also dictates what insurance companies cover.
Fact: The government also prevents insurance from offering a no frills policy to those with limited resources.
Then how can it be that the evil insurance companies are desirous of squelching competition?
By the way, annual Medicare fraud amounts to $60 billion and annual profits for the top ten insurance companies was $8 billion. Therefore claims that government run health care is cheaper is an outrageous projection.
The following information gleaned by BigGovernment.com proves the blatant scorn house leadership has for the taxpayer in regard to healthcare.
Section 2531, entitled "Medical Liability Alternatives," establishes an incentive program for states to adopt and implement alternatives to medical liability litigation. [But]...... a state is not eligible for the incentive payments if that state puts a law on the books that limits attorneys' fees or imposes caps on damages.
This protects the trial lawyers contingency fees and is a payoff to trial lawyers for their millions in contributions to Democratic election coffers. So much for tort reform.
And on top of all this Chuckie Schumer has his sights set on removing antitrust exemptions for the insurance industry, specifically the McCarran-Ferguson exemption which grants regulatory control of the industry to the individual states. If this came to pass states would relinquish oversight back to the feds. Anyone who believes that this is not about control is living in Lewis Carroll land.
What a let down! A president that promised transparency and bipartisanship has delivered deception and arrogance.