Quote:
Originally Posted by wdmso
when I started my Job 1988 my health insurance contribution was 25 cents a pay period
2017 its 400.00 a pay period
i must be missing where they are not making any money ??
I dont blame any party I blame health insurance and the healthcare system for profit model
Aetna CEO Mark Bertolini: $15 millionAnthem
CEO Joseph Swedish: $13.5 millionCigna
CEO David Cordani: $14.5 milion
Humana CEO Bruce Broussard: $10.1 million
UnitedHealth Group CEO Stephen Helmsley: $14.9 million
Health insurance industry rakes in billions while blaming Obamacare for losses
In fact, UnitedHealth announced record-breaking profits in 2015, followed by an even better year this year. In July 2016, UnitedHealth celebrated revenues that quarter totalling $46.5 billion, an increase of $10 billion since the same time last year. And company filings show that UnitedHealth’s CEO Stephen J. Hemsley made over $20 million in 2015. To be fair, that is a pay cut. The previous year, in 2014, Hemsley took home $66 million in compensation.
Thanks to the insurance industry’s combination of record profits in recent years and increasing premiums, people on both sides of the political aisle have criticized the Affordable Care Act as being more beneficial to the insurance industry than consumers, though politicians remain deeply divided on what a good, viable alternative would entail.
but back to the topic of the thread is it ok for Trump let the ACA blow up rather than fix it seeing he cant replace it .. I thought he was on the little guys side ?
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"i must be missing where they are not making any money ??"
Again, you have a very, very hard time (like most liberals) responding to what I said. I never, ever said they don't make "any" money. I said that there profit margins, are below average for all businesses in the country, and that they are very highly regulated by every state. The state insurance departments make sure that profit margins are not excessive, or they require the companies to decrease premiums.
Some companies make a ton of money, but that's because they have a lot of insureds. On average, for every dollar in premium they collect, they spend about 93-95 cents on healthcare costs and expenses of running the company. But some of them have millions of customers, so it adds up to a lot of total profit. But that doesn't mean you can cut premiums in half, or even by 10%, and still break even.
Thin profit margins per customer (on average), but a huge number of customers. All you see is the big total profit, not the fact that the margins per customer are thin.
Insurance is highly regulated, and there's also a fair amount of competition. Therefore, health insurance companies cannot charge excessive rates, or no one will choose to buy their product.
Ahh, CEO compensation, the whiny lullaby of the left. Yes, CEO compensation is grotesque and unfair. It's also nothing but a rounding error on the balance sheet of a company like Aetna. If the CEO worked for free, how much do you think they could decrease the annual cost of their customer's insurance plan? Aetna has millions and millions of customers. So CEO pay might cost each customer $15 a year. Big whoop.
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