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Health Insurance That Doesn’t Cover the Bills Has Flooded the Market

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Re: Health Insurance That Doesn’t Cover the Bills Has Flooded the Market

#21

Post by bmarquez »

chillwaves wrote: post #13
rayiner wrote: post #8

Earlier quoted context omitted.

I'm a proponent of universal healthcare, but pointing to "insurance industry greed" is a dishonest narrative. Health insurers are having a banner year, and that means their profit margins are approaching 6%. (By contrast, Facebook is regularly over 40%.) For the year ending Q3 2018, health insurer profits amounted to $25 billion, industry wide , which is about the same as Google alone makes in a year. If running a bu…

People are dying over healthcare, not over facebook.

With Instagram contributing to a decline in young adult mental health[1] perhaps Facebook should be taxed so their profit margins drop down to similar levels as health companies.

[1]https://time.com/4793331/instagram-social-media-mental-healt...

Re: Health Insurance That Doesn’t Cover the Bills Has Flooded the Market

#22

Post by rayiner »

chillwaves wrote: post #13
rayiner wrote: post #8

Earlier quoted context omitted.

I'm a proponent of universal healthcare, but pointing to "insurance industry greed" is a dishonest narrative. Health insurers are having a banner year, and that means their profit margins are approaching 6%. (By contrast, Facebook is regularly over 40%.) For the year ending Q3 2018, health insurer profits amounted to $25 billion, industry wide , which is about the same as Google alone makes in a year. If running a bu…

People are dying over healthcare, not over facebook.

Does the fact that people might die create an obligation to run your business like a charity?

What even is your moral theory? That a company that makes 6% profits saving lives is evil, but a company that makes 40% profits and doesn't save any lives in the process is not evil? Apple makes laptops that, for the price of a single one, could save someone in Africa from malaria. The opportunity cost of every MacBook Pro is a death in Africa. If there is an affirmative obligation to save lives, how evil is Apple?

This is an incoherent--but extremely common--ideology. It would be one thing if these people followed their ideas to the logical conclusion. It's evil for anyone to make more than 6% profits because that money could be spent saving lives. But it makes no sense to impose that moral obligation on a selected group.

Re: Health Insurance That Doesn’t Cover the Bills Has Flooded the Market

#23

Post by chillwaves »

rayiner wrote: post #22
chillwaves wrote: post #13

Earlier quoted context omitted.

People are dying over healthcare, not over facebook.

Does the fact that people might die create an obligation to run your business like a charity? What even is your moral theory? That a company that makes 6% profits saving lives is evil, but a company that makes 40% profits and doesn't save any lives in the process is not evil? Apple makes laptops that, for the price of a single one, could save someone in Africa from malaria. The opportunity cost of every MacBook Pro i…

My "moral theory" is you can't claim market rates to a hostage.

Re: Health Insurance That Doesn’t Cover the Bills Has Flooded the Market

#24

Post by u801e »

Ididntdothis wrote: post #16
Retric wrote: post #11

Earlier quoted context omitted.

It dealt with the preexisting condition loophole which was the largest issue with private insurance.

True, that was a good thing. But it didn't address the cost side.

I wonder if that would have been the case had the public health option been part of the ACA?

Re: Health Insurance That Doesn’t Cover the Bills Has Flooded the Market

#25

Post by [deleted] »

chillwaves wrote: post #23
rayiner wrote: post #22

Earlier quoted context omitted.

Does the fact that people might die create an obligation to run your business like a charity? What even is your moral theory? That a company that makes 6% profits saving lives is evil, but a company that makes 40% profits and doesn't save any lives in the process is not evil? Apple makes laptops that, for the price of a single one, could save someone in Africa from malaria. The opportunity cost of every MacBook Pro i…

My "moral theory" is you can't claim market rates to a hostage.

[deleted]

Re: Health Insurance That Doesn’t Cover the Bills Has Flooded the Market

#26

Post by didibus »

rayiner wrote: post #8
sambull wrote: post #2

Guaranteed strategy for a progressive wave 2020 and a democratic president. Expect massive executive action to address climate change and end corruption. There's nothing more evident than the greed of the insurance companies, it cuts bipartisan. Finally the hope of adults in the reigns again

I'm a proponent of universal healthcare, but pointing to "insurance industry greed" is a dishonest narrative. Health insurers are having a banner year, and that means their profit margins are approaching 6%. (By contrast, Facebook is regularly over 40%.) For the year ending Q3 2018, health insurer profits amounted to $25 billion, industry wide , which is about the same as Google alone makes in a year. If running a bu…

An insurance company should be operating at cost though. They should all eventually compete on the lowest prices until someone reaches close to operating cost. It should be a race to the bottom.

Also, part of the costs are related to inflated health care and med costs. Because insurer can pay more, health care can charge more. Their profit should come from them working to lower those prices, not from lowering their coverage.

Re: Health Insurance That Doesn’t Cover the Bills Has Flooded the Market

#27

Post by happierlook »

Simulacra wrote: post #17

What I know is that before ACA, my health insurance was about $150 a month. Now it’s $650 a month. I can’t afford to subsidize other people’s bad choices and inability to pay. Health insurance should not be robbing Peter to pay Paul, we should return to an open market place.

> we should return to an open market place.

What should happen when an uninsured child ends up in the emergency room?

Re: Health Insurance That Doesn’t Cover the Bills Has Flooded the Market

#28

Post by toomuchtodo »

sneak wrote: post #15
Ididntdothis wrote: post #6

The US system really needs to be torn down and rebuilt from scratch. Stories like this simply shouldn’t happen. There is almost no way as a patient to ensure your coverage is sufficient besides having a lot of money in case. It’s insane and hard to understand how anyone can defend this. With the lack of information the patient has nobody should talk about free markets. A functioning market requires that all participa…

Torn down by whom? There is a whole system of laws and companies and staff that would object to such a dictatorial move. We agree that it’s fucked. We likely disagree on where it needs to go, and possibly on how it needs to get there. Actionable steps to improve are what is needed, especially now that stance on healthcare regulation has become a point of political identity in the USA. I think it will probably get wor…

60% of Americans believe the government (in some form) should ensure healthcare for its citizens (per Pew Research). 70% of Americans support Medicare for All. We’re going single payer (Medicare For All), it’s just a matter of when (the younger you are, the more you’re likely to support it).

https://www.pewresearch.org/fact-tank/2018/10/03/most-contin...

https://thehill.com/hilltv/what-americas-thinking/412545-70-...

Re: Health Insurance That Doesn’t Cover the Bills Has Flooded the Market

#29

Post by no_opinions »

In European countries I visited, primarily Scandinavian ones, they take such pride in their social system.

If some European countries is any example, publicly run healthcare can incentivize innovation in private health insurances.

Apparently EU citizens (and visa holders?) get a healthcare card that's portable across EU. Is this true?

Any Europeans healthcare users have opinions on the healthcare system there? Any wisdom to impart?

Re: Health Insurance That Doesn’t Cover the Bills Has Flooded the Market

#30

Post by rayiner »

didibus wrote: post #26
rayiner wrote: post #8

Earlier quoted context omitted.

I'm a proponent of universal healthcare, but pointing to "insurance industry greed" is a dishonest narrative. Health insurers are having a banner year, and that means their profit margins are approaching 6%. (By contrast, Facebook is regularly over 40%.) For the year ending Q3 2018, health insurer profits amounted to $25 billion, industry wide , which is about the same as Google alone makes in a year. If running a bu…

An insurance company should be operating at cost though. They should all eventually compete on the lowest prices until someone reaches close to operating cost. It should be a race to the bottom. Also, part of the costs are related to inflated health care and med costs. Because insurer can pay more, health care can charge more. Their profit should come from them working to lower those prices, not from lowering their c…

No, economic theory says that perfectly competitive industries will operate at a nominal profit, not at cost. A 6% profit margin is probably not quite "nominal profit," but is below the average for all industries: https://www.forbes.com/sites/sageworks/2016/10/03/the-15-lea....
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