Comments on: It’s Time For An Insurancectomy http://whynow.dumka.us/2007/07/12/its-time-for-an-insurancectomy/ On-line Opinion Magazine...OK, it's a blog Sat, 11 Feb 2012 03:38:40 +0000 hourly 1 http://wordpress.org/?v=3.1.4 By: Bryan http://whynow.dumka.us/2007/07/12/its-time-for-an-insurancectomy/comment-page-1/#comment-27598 Bryan Fri, 13 Jul 2007 01:21:20 +0000 http://whynow.dumka.us/2007/07/12/its-time-for-an-insurancectomy/#comment-27598 They have a 30% overhead cost compare to <5% for Medicare, so a shift to Medicare could be about 30% cheaper, with the profit margin of private vendors covering all of the overhead of Medicare. I would note that at $400K the President is the highest paid Federal employee, making twice as much as the next level below, and that Medicare contracts out its processing, so there are very few actual government employees involved. They have a 30% overhead cost compare to <5% for Medicare, so a shift to Medicare could be about 30% cheaper, with the profit margin of private vendors covering all of the overhead of Medicare. I would note that at $400K the President is the highest paid Federal employee, making twice as much as the next level below, and that Medicare contracts out its processing, so there are very few actual government employees involved.

]]> By: hipparchia http://whynow.dumka.us/2007/07/12/its-time-for-an-insurancectomy/comment-page-1/#comment-27596 hipparchia Fri, 13 Jul 2007 00:15:50 +0000 http://whynow.dumka.us/2007/07/12/its-time-for-an-insurancectomy/#comment-27596 on paper at least, the insurance comapnies are only making about <a href="http://money.cnn.com/magazines/fortune/fortune500/2007/industries/Health_Care_Insurance_Managed_Care/2.html" rel="nofollow">5% profit</a>, a reasonable margin, actually. If you control the market, if you're guaranteed a 5% profit on almost everything you do, while you're at it, why not increase revenues by just <a href="http://money.cnn.com/magazines/fortune/fortune500/2007/industries/Health_Care_Insurance_Managed_Care/3.html" rel="nofollow">adding more employees</a>? particularly if you can put them to work denying claims. on paper at least, the insurance comapnies are only making about 5% profit, a reasonable margin, actually.

If you control the market, if you’re guaranteed a 5% profit on almost everything you do, while you’re at it, why not increase revenues by just adding more employees? particularly if you can put them to work denying claims.

]]> By: Car Insurance Companies July 12, 2007 6:49 pm http://whynow.dumka.us/2007/07/12/its-time-for-an-insurancectomy/comment-page-1/#comment-27595 Car Insurance Companies July 12, 2007 6:49 pm Thu, 12 Jul 2007 22:52:49 +0000 http://whynow.dumka.us/2007/07/12/its-time-for-an-insurancectomy/#comment-27595 [...] It?s Time For An Insurancectomy The reality is when states started requiring automobile insurance, they had to create an auto insurance company to handle people that insurance companies refused to cover. Florida has had to do the same thing with homeowners? insurance, … [...] [...] It?s Time For An Insurancectomy The reality is when states started requiring automobile insurance, they had to create an auto insurance company to handle people that insurance companies refused to cover. Florida has had to do the same thing with homeowners? insurance, … [...]

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