White House Targets Insurers' Healthcare Premiums

[Tilted]

White House Targets Insurers' Healthcare Premiums

The White House kept insurance companies squarely in its sights Tuesday in the push for healthcare reform by releasing research showing that health insurance premiums have risen far faster than inflation in every U.S. state.

U.S. states have experienced premium growth of 90 percent to nearly 150 percent in the past decade, while wages have risen 38 percent and inflation by 28 percent, the report by the White House's National Economic Council said.

"In every state, premiums have increased faster than wages and in every state, family budgets are consumed by an increasing share of healthcare premiums," the report said.

Vice President Joe Biden was scheduled to speak on Tuesday to the National Association of Insurance Commissioners, in remarks highlighting the report.

And what do you suppose Mr. Biden is going to say after laying out this research, which indicates that health care premiums have been rising substantially?

In light of what this research tells us, we are going to abandon current efforts to reform health care. In the face of widespread and substantial health care premium increases, we believe that it is not the right time for policies that will further exacerbate the problem by tending to drive those premiums even higher for average Americans. If we are able to identify practical reforms which would likely have the effect of helping to control costs, without significantly reducing quality or availability, then we will vigorously pursue them. But for now, we are choosing to do nothing as opposed to doing further harm.

or

In spite of what this research tells us, we are going ahead with our current efforts to reform health care, and we are doing so by continuing to push for policies that will tend to drive health care premiums even higher for average Americans. Yes, premiums are going through the roof, but we need health care reform, so they're just gonna have to go higher.

I'm betting on the latter, though I'm sure he'll use somewhat different phrasing.

If nothing else, have chutzpah, this Administration does.

[Larry Gude (Premo)]

A???

[Tilted]

Originally Posted by Larry Gude

A???

Care to place a small (5-digit) wager on it?

[Larry Gude (Premo)]

Originally Posted by Tilted

Care to place a small (5-digit) wager on it?

Can I use TARP funds?

[Tilted]

Originally Posted by Larry Gude

Can I use TARP funds?

It's okay with me. It wouldn't be much different than how they've been used in the past - to restore financial solvency or liquidity to vital institutions after their gambling loses left them in dire financial situations.

I think you might have to wait until after you lose the money to ask for the TARP funds though. That's fine, since it's a no lose proposition for me, I'll take credit. But, let's not take any chances - let's up the stakes - you know, the worse shape you are in, and the worse judgment you've shown, the more likely you are to get the funds.

[Larry Gude (Premo)]

Originally Posted by Tilted

It's okay with me. It wouldn't be much different than how they've been used in the past - to restore financial solvency or liquidity to vital institutions after their gambling loses left them in dire financial situations.

I think you might have to wait until after you lose the money to ask for the TARP funds though. That's fine, since it's a no lose proposition for me, I'll take credit. But, let's not take any chances - let's up the stakes - you know, the worse shape you are in, and the worse judgment you've shown, the more likely you are to get the funds.

And that right there is how it works! You win, I win, we all win. The only change I would like to propose is a pre-loss hardship clause. My credit worthiness will be better now for relief funds BEFORE I incur a loss so, I want to borrow now enough to cover any wager you'd prefer plus my carrying costs and a margin for the corporate retreat and enough spare cash to buy up a competitor or two.

[EmptyTimCup]

Originally Posted by Tilted

And what do you suppose Mr. Biden is going to say after laying out this research, which indicates that health care premiums have been rising substantially?

of course no one look under the rug to see malpractice insurance cost rising because of Trial lawyers ..........



my Doc told me last yr, he spends a larger portion of every dollar ( sorry I do not remember his exact % ) on office staff, just trying to get the money he deserves for services rendered that Insurance Companies make it as hard a possible to collect ....

[bcp (Premo)]

I wonder if the cost of health care has gone up in any equal relation to the increase in illegals using the system.

[aps45819 (Premo)]

Originally Posted by bcp

I wonder if the cost of health care has gone up in any equal relation to the increase in illegals using the system.

Not to worry.

We're about to have 12 million new citizens

[wintersprings]

Originally Posted by EmptyTimCup

of course no one look under the rug to see malpractice insurance cost rising because of Trial lawyers ..........



my Doc told me last yr, he spends a larger portion of every dollar ( sorry I do not remember his exact % ) on office staff, just trying to get the money he deserves for services rendered that Insurance Companies make it as hard a possible to collect ....

Cost to get money from the insurance Co, is about 8% of a doctors cost, with another 10-12% spent of the staff/Office space to keep you waiting. Thats my back of the envelope calculations based on having done it.

The software is getting so good, that after the first visit, is like a swipe of the credit card to send in a bill to the insurance co. The rest of the cost involves set up and rejects.

I really don't see single payer saving more that 1-2%, which when weighted against your lack of options, and no ability to fire the insurance co, is a none starter to me.