Health Insurance Stuff......

[GeoFisher]

The problem with the health insurance industry is money grubbing HMO's that not only control the hospitals...and now many of the doctors that used to be in private practice but can't afford to do so anymore because of frivilous mal practice law suits driving the cost of their malpractice insurance thru the roof....and guess who's hand is in the health insurance business?,,,yep HMO's.

Actually I can't complain right now...my health insurance is from the military retirement....37.50 a month covers me and the wife with basically major medical plan from Blue Cross....wife just had outpatient surgury..bill total was over 12,000...we paid our co pay...25.00. Just waiting on the government to go bankrupt like the USSR did so I can not only lose my retirement but health care too.

Well.......HMO's are NOT the problem either.......they try to create LARGE groups to lower the cost, and actually they did a pretty **** good job of it.

Next......You, and ALL soldiers and ex-soldiers get a "by" from me with regards to health care......I RESPECT your and EVERY ONE who serves, and they DESERVE the benefits earned due to service to our country.

Finally............with regards to that 12,000 dollar bill for outpatient surgury.....Someone paid for it.......and in this case it was probably Tricare and the Taxpayer.....your 37 dollar premium and 25 dollar copay paid for maybe the needle to knock her out....

Later,

Geo

[GeoFisher]

ALSO, as a side note.........I work for a LARGE Health Insurance Company.

AND health insurance companies don't make lots of money..........in fact our profit margins are about 3-4 percent.

Imagine ANY other business making 3% as a profit.........HOLY CRAP.......but EVERYONE thinks the insurance companies are what are SCREWING UP Health CARE.

My friends.......they are NOT.......

* Doctors charging 300 bucks for a 50 dollar service fee.......BECAUSE MEDICARE will PAY IT.

* Doctors charging 5 THOUSAND DOLLARS for an MRI......because MEDICARE WILL PAY IT.

* Doctors charging 100 bucks for a 15 minute office visit to read my LAB. THEY charge that 100 bucks because their overhead is 10 THOUSAND dollars a month....what causes that overhead........how about the 150 THOUSAND DOLLARS an OB/GYN needs to pay for malpractice insurance.

GUYS...........the problem is NOT the INSURANCE COMPANIES........FAR from IT.

One thing missed in my post above about my HSA Debit card is the "on demand" claims payment. When I go to the doctor, and have a service........I swipe my debit card, and it is PAID THERE.........period. NO FORMS, NO claims adjudication, bla, bla, bla.......DONE. Talk about eliminate red tape a paperwork.....and REDUCING COST.

Later,

Geo

[JD7.62]

ALSO, as a side note.........I work for a LARGE Health Insurance Company.

AND health insurance companies don't make lots of money..........in fact our profit margins are about 3-4 percent.

Imagine ANY other business making 3% as a profit.........HOLY CRAP.......but EVERYONE thinks the insurance companies are what are SCREWING UP Health CARE.

My friends.......they are NOT.......

* Doctors charging 300 bucks for a 50 dollar service fee.......BECAUSE MEDICARE will PAY IT.

* Doctors charging 5 THOUSAND DOLLARS for an MRI......because MEDICARE WILL PAY IT.

* Doctors charging 100 bucks for a 15 minute office visit to read my LAB. THEY charge that 100 bucks because their overhead is 10 THOUSAND dollars a month....what causes that overhead........how about the 150 THOUSAND DOLLARS an OB/GYN needs to pay for malpractice insurance.

GUYS...........the problem is NOT the INSURANCE COMPANIES........FAR from IT.

One thing missed in my post above about my HSA Debit card is the "on demand" claims payment. When I go to the doctor, and have a service........I swipe my debit card, and it is PAID THERE.........period. NO FORMS, NO claims adjudication, bla, bla, bla.......DONE. Talk about eliminate red tape a paperwork.....and REDUCING COST.

Later,

Geo

Very good points. I use to review certain HCPC codes billed by providers such as unlisted codes. Its amazing to see what they charge for the most inexpensive things. For example, during flu season we will often see an unlisted supply code for about $25 with a description of something along the lines of "flu vac kit". Well after further investigation guess what is in that kit? Alchohol wipe and a band aid!! What is up with that?!

Also you are correct with the profit marigins, like oil companies we make very little compared to other industries yet for some reason because oil companies and the big health insurance companies are successful and make money and employ hundreds of thousands of people, they are evil...

[MrSplitshot]

AND health insurance companies don't make lots of money..........in fact our profit margins are about 3-4 percent.

Geo - I'm assuming that's 3-4% net profit, bottom line, after expenses, interest, and taxes? If so, that's not drastically high or low compared to many companies. (Totally different industry, but our company puts about 4% net profit on the bottom line after expenses.)

I agree with you that it's not really the insurance companies causing the problem. I'm sure there are questionable practices that don't help any, just like any other industry, but if 80% of what they take in for premiums is paid back out in benefits (I believe that was the ballpark number at one point) and they are operating on ballpark 20 points to pay all of their expenses, sales/marketing costs, payroll, etc....and they net 3-4 on the bottom line....that's not out of the ordinary. With some companies being "self insured" these days, the insurance company just becomes a paperwork shuffler a lot of times too. And yeah, they have some high paid top brass executives...what big company doesn't?

Hospitals and Doctors do have their fair share of expenses to cover, but I would think it's the $25 Tylenol and $5000 MRI being billed that is the root of the issue...not to mention the DRUG companies, charging unreal prices for medicines and claiming that it's because of R&D expense. They have R&D expense, don't get me wrong, but how about their cost of advertising? (Ever count the number of drug commercials during the evening news?)

[Dave Stewart]

Well.......HMO's are NOT the problem either.......they try to create LARGE groups to lower the cost, and actually they did a pretty **** good job of it.

Next......You, and ALL soldiers and ex-soldiers get a "by" from me with regards to health care......I RESPECT your and EVERY ONE who serves, and they DESERVE the benefits earned due to service to our country.

Finally............with regards to that 12,000 dollar bill for outpatient surgury.....Someone paid for it.......and in this case it was probably Tricare and the Taxpayer.....your 37 dollar premium and 25 dollar copay paid for maybe the needle to knock her out....

Later,

Geo

Don't think I said anything about not knowing who paid the 12,000 bill...I know the tax payers (of which I am one) paid for it. Yes, I earned these benefits...just so folks could come on this site and bitch about anything the government does...good or bad.