Health Insurance

With medical costs continually rising, insurance companies better have money in the bank to be able to pay off rising numbers of claims to the hospital at higher costs. What good is insurance if it doesn't have the money in the bank to do what its supposed to.

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Originally Posted by 1inStripes

With medical costs continually rising, insurance companies better have money in the bank to be able to pay off rising numbers of claims to the hospital at higher costs. What good is insurance if it doesn't have the money in the bank to do what its supposed to.

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When you say "do what it's supposed to", you have to remember that the definition of that varies. Does it mean money to do what you said it does? Then yes--that's it from the viewpoint of John Q Public like yourself and I. However, when the CEO's and stockholders look at "do what it's supposed to", their definition is moreso about keeping their crazy annual bonuses and making sure they make a new record profit off of their dividends.

So, which is the greater need between the two? Record profits/bonuses for those who already have enough money to do whatever they want, or actually giving healthcare coverage to people like you and I who REALLY need it?

Honestly, both. No one gets in business to lose money or just break even.

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Originally Posted by 1inStripes

Honestly, both. No one gets in business to lose money or just break even.

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Right, but how fair is it for the consumer to suffer due to a crap product that they have to have (per either the law or the market), but the producer of that product to line their pockets with higher prices on the same product--just because they've gotten X billions in bonuses and don't want to reinvest some money into making their product better (and possibly cheaper) for the consumer...all the while still making a damn good profit...just not as good of one as in the past.

I'm not talking about break-even points here, if we were, I'd have absolutely no leg to stand on. We're not talking about Jim-Bob's Family Country Insurance here that's just keeping it's head above margin.

But, you weren't require to have health insurance.....before.

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Originally Posted by 1inStripes

But, you weren't require to have health insurance.....before.

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Not by law, but it's almost a requirement with the way health care costs are in the marketplace. If you didn't have health insurance, you either went without or were independently wealthy enough to cover your health care costs.

Notice that part above where I said "per either the law or the market". You'd be a half-a-tard if you didn't carry health insurance b/c of how the market is, unless you can pay for it straight up and have no strain on your pocketbook. We're all equally effed in the arse as far as that goes in the middle class most of us fit into.

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Originally Posted by CoeburnCane

Not by law, but it's almost a requirement with the way health care costs are in the marketplace. If you didn't have health insurance, you either went without or were independently wealthy enough to cover your health care costs.

Notice that part above where I said "per either the law or the market". You'd be a half-a-tard if you didn't carry health insurance b/c of how the market is, unless you can pay for it straight up and have no strain on your pocketbook. We're all equally effed in the arse as far as that goes in the middle class most of us fit into.

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Lest we not forget though, theres plenty of "half-a-tars" out there, and if you wanted to, you had that right to get hit with a serious medical bill. Just as you have the option to opt out of car insurance.

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Originally Posted by 1inStripes

Lest we not forget though, theres plenty of "half-a-tars" out there, and if you wanted to, you had that right to get hit with a serious medical bill. Just as you have the option to opt out of car insurance.

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...and the problem with that is the ones who can't pay, the market somehow has to absorb...meaning you and I who pay to begin with. At least this way, everyone is in the market place and has some investment and/or risk, not just those responsible enough to buy health insurance beforehand.

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Originally Posted by 1inStripes

Is it the insurance or the hospitals that are forcing this though because hospitals are raising costs to them. Insurance companies have to make money too. Insurance really wasn't made for how it is used today. It was really designed to support people when major things happened like stays in the hospital, or surgery. Not for checkups and etc. Its been abused for a long time. I really expect most people in 3 years to be moving toward HDHP's.

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I disagree really. Maybe not originally designed to do that, but insurance companies realized that any sort of preventive care(check ups) is much more inexpensive that to pay for those major problems and saves a lot of money to either prevent them or catch it early. Insurance companies don't mind one bit covering for checkups and all if it saves them a ton of money in the long run.

Your right, but when health insurance was originally designed checkups and etc were not part of the deal. That didn't come along till about the mid 80s. Because of this, it is another reason why insurance has added up over the years.