How much of your health insurance premium is wasted on bloated overhead?

[Mainecat]

How much of your health insurance premium is wasted on bloated overhead?

And compared with costs to administer Medicare? 





https://pnhp.org/ 

Here’s an overview of single payer. 

Single-payer national health insurance, also known as “Medicare for all,” is a system in which a single public or quasi-public agency organizes health care financing, but the delivery of care remains largely in private hands. Under a single-payer system, all residents of the U.S. would be covered for all medically necessary services, including doctor, hospital, preventive, long-term care, mental health, reproductive health care, dental, vision, prescription drug and medical supply costs. 

The program would be funded by combining our current, considerable sources of public funding (such as Medicare and Medicaid) with modest new taxes based on ability to pay. Over $500 billion in administrative savings would be realized by replacing today’s inefficient, profit-oriented, multiple insurance payers with a single streamlined, nonprofit, public payer. 

Premiums would disappear, and 95 percent of all households would save money. Patients would no longer face financial barriers to care such as co-pays and deductibles, and would regain free choice of doctor and hospital. Doctors would regain autonomy over patient care. 

The Medicare for All Act of 2019, H.R. 1384, based on PNHP’s AJPH-published Physicians’ Proposal, would establish an American single-payer health insurance system. 
......... 

70% of Americans want a Medicare for All system. Including the majority of independent voters. 
https://thehill.com/hilltv/what-americas-thinking/412545-70-percent-of-americans-support-medicare-for-all-health-care

[Highmark]

You think govt health insurance doesn't have overhead?

Healthcare.gov website debacle ring a bell. 

 

Medicare administrative costs per patient are only lower using one metric and fails to account that the private sector does much or most of the paperwork for Medicare. 

https://www.forbes.com/sites/theapothecary/2011/06/30/the-myth-of-medicares-low-administrative-costs/#599fa26140de

 

[Mainecat]

2 minutes ago, Highmark said:

You think govt health insurance doesn't have overhead?

Healthcare.gov website debacle ring a bell. 

 

Medicare administrative costs per patient are only lower using one metric and fails to account that the private sector does much or most of the paperwork for Medicare. 

https://www.forbes.com/sites/theapothecary/2011/06/30/the-myth-of-medicares-low-administrative-costs/#599fa26140de

 

Read the links

[racer254]

FFS did you not learn anything from ACA?  Costs DIDN'T go down.

 

[Angry ginger]

ACA left the insurance companies in place and did almost nothing to control cost.  No reason a national healthcare plan could not work.  Almost every other first world country has one and no on pays more for their healthcare than the US.  

[$poorsledder$]

Let me cross state lines to get healthcare.  Let me buy prescriptions from Canada or Europe.

Letting the government manage healthcare will be like going to the DMV. 

[Angry ginger]

Just now, $poorsledder$ said:

Let me cross state lines to get healthcare.  Let me buy prescriptions from Canada or Europe.

Letting the government manage healthcare will be like going to the DMV. 

there some sort of gate between MA and CT I don't know about.  You can go anywhere you want your insurance company is still going to decide who gets paid what and take the 15-20k a year a family plan costs.  

Government or the insurance company someones managing the healthcare and only one can do it without looking to profit off the policyholders.  I know no one whose been real unhappy with how their healthcare has been managed under medicaid.  I do think that Medicaid should better ration healthcare and let more people die as they are too expensive though.  

[racer254]

14 minutes ago, Angry ginger said:

ACA left the insurance companies in place and did almost nothing to control cost.  No reason a national healthcare plan could not work.  Almost every other first world country has one and no on pays more for their healthcare than the US.  

Where are the best doctors and hospitals located?  Seems that the US Healthcare costs more because it's better.  Maybe just do what $poorsledder$ said.  We don't need the government running it.

[$poorsledder$]

I don't want Canadian healthcare (please don't start a fight about this in this thread).  Best doctors/hospitals are in the US and they aren't the ones taking all the profit off of healthcare, the insurance companies are.  Just a couple years ago Anthem was going to buy Cigna for 54 billion...… how does an insurance company have all that wealth?

My Employer is offering a 3 tier high deductible plan through Cigna or Aetna with a side HSA for me to put money in to cover the deductibles.  I have about 8K stashed in there right now (It's also an IRA after you turn 65) and I'll keep dumping $50.00 a week in there and build it up.  I tell my kids our health plan is to stay healthy, I have   if something were to happen my HSA will be gone

Open the state borders and make the insurers compete.  Let my employer be able to make deals with other companies rather than just the locals.    

[Angry ginger]

23 minutes ago, racer254 said:

Where are the best doctors and hospitals located?  Seems that the US Healthcare costs more because it's better.  Maybe just do what $poorsledder$ said.  We don't need the government running it.

 There is no material difference for the 99% of healthcare needs we have.  For the 1% sure our docs and hospitals are the best but at what cost to society.  Our overall health in this country is worse than many with socialized healthcare,  our life expectency not any better.  So spending 10x as much for something most will never use is silly.  

 

 

[1jkw]

Highmark BC in PA just paid back customers 13.2 % of their premiums for 2018, due to the fact the ACA requires 80% of premiums be used on patient care.

[1jkw]

5 minutes ago, $poorsledder$ said:

I don't want Canadian healthcare (please don't start a fight about this in this thread).  Best doctors/hospitals are in the US and they aren't the ones taking all the profit off of healthcare, the insurance companies are.  Just a couple years ago Anthem was going to buy Cigna for 54 billion...… how does an insurance company have all that wealth?

My Employer is offering a 3 tier high deductible plan through Cigna or Aetna with a side HSA for me to put money in to cover the deductibles.  I have about 8K stashed in there right now (It's also an IRA after you turn 65) and I'll keep dumping $50.00 a week in there and build it up.  I tell my kids our health plan is to stay healthy, I have   if something were to happen my HSA will be gone

Open the state borders and make the insurers compete.  Let my employer be able to make deals with other companies rather than just the locals.    

 

44 minutes ago, $poorsledder$ said:

Let me cross state lines to get healthcare.  Let me buy prescriptions from Canada or Europe.

Letting the government manage healthcare will be like going to the DMV. 

I'm all for opening the market up across the country, but it will raise the costs for states with "healthier populations" (lower premiums) because they will then have to cover less healthy parts of the population.

[Angry ginger]

1 minute ago, $poorsledder$ said:

I don't want Canadian healthcare (please don't start a fight about this in this thread).  Best doctors/hospitals are in the US and they aren't the ones taking all the profit off of healthcare, the insurance companies are.  Just a couple years ago Anthem was going to buy Cigna for 54 billion...… how does an insurance company have all that wealth?

My Employer is offering a 3 tier high deductible plan through Cigna or Aetna with a side HSA for me to put money in to cover the deductibles.  I have about 8K stashed in there right now (It's also an IRA after you turn 65) and I'll keep dumping $50.00 a week in there and build it up.  I tell my kids our health plan is to stay healthy, I have   if something were to happen my HSA will be gone

Open the state borders and make the insurers compete.  Let my employer be able to make deals with other companies rather than just the locals.    

HSA is a terrific way for most to go and really opens your eyes to the terrible cost issue in this country.  The rack rate for my sons 2 ACL replacements was almost 120k,  Anthem paid out less than 30 between them, first time i had reg insurance second time high deduc with HSA had there been no major claims i would have been well ahead of the game with the HSA which had been the case the other years I was on one.  Because of some med issues the wife has and an anticipated 3rd ACL replacment for my son this year i went back to the reg insurance but I hate having to play the game.     

I'm perfectly willing to settle for a blended plan,  catastrophic through the government and an HSA to pay for day to day medical costs that I control with pretax dollars.   

[Sleepr2]

Obambi care was such a great cost savings 

[$poorsledder$]

1 hour ago, 1jkw said:

Highmark BC in PA just paid back customers 13.2 % of their premiums for 2018, due to the fact the ACA requires 80% of premiums be used on patient care.

This is a good thing but I still think 20% off the top going to insurers is high.

[Highmark]

There is ZERO chance of lowering HC costs without a few things.

1. Lowering quality of care.   Lowering the standards of what it takes to become a medical professional.  

2. Lower availability of care.

3. Forcing EVERYONE who works in HC to work for less.  Even Bernie admits this. 

Private insurance manages the system cheaper than govt because profit is an incentive to eliminate fraud and waste.  The link is very clear on this and proves it with data.

 

[Kivalo]

2 hours ago, Mainecat said:

How much of your health insurance premium is wasted on bloated overhead?

And compared with costs to administer Medicare? 





https://pnhp.org/ 

Here’s an overview of single payer. 

Single-payer national health insurance, also known as “Medicare for all,” is a system in which a single public or quasi-public agency organizes health care financing, but the delivery of care remains largely in private hands. Under a single-payer system, all residents of the U.S. would be covered for all medically necessary services, including doctor, hospital, preventive, long-term care, mental health, reproductive health care, dental, vision, prescription drug and medical supply costs. 

The program would be funded by combining our current, considerable sources of public funding (such as Medicare and Medicaid) with modest new taxes based on ability to pay. Over $500 billion in administrative savings would be realized by replacing today’s inefficient, profit-oriented, multiple insurance payers with a single streamlined, nonprofit, public payer. 

Premiums would disappear, and 95 percent of all households would save money. Patients would no longer face financial barriers to care such as co-pays and deductibles, and would regain free choice of doctor and hospital. Doctors would regain autonomy over patient care. 

The Medicare for All Act of 2019, H.R. 1384, based on PNHP’s AJPH-published Physicians’ Proposal, would establish an American single-payer health insurance system. 
......... 

70% of Americans want a Medicare for All system. Including the majority of independent voters. 
https://thehill.com/hilltv/what-americas-thinking/412545-70-percent-of-americans-support-medicare-for-all-health-care

How much of yours is wasted on depends? 

[Sleepr2]

[Cold War]

2 hours ago, racer254 said:

FFS did you not learn anything from ACA?  Costs DIDN'T go down.

 

The plan was flawless.  Who wouldn’t want them to have another run at it?  What  could be the worst that could happen?  

[hayward]

2 hours ago, 1jkw said:

Highmark BC in PA just paid back customers 13.2 % of their premiums for 2018, due to the fact the ACA requires 80% of premiums be used on patient care.

got ours in the mail last week.  Thought it was a joke.  NOW the problem is, trying to stay in network with enhanced coverage with this cocksucking plan.  The doctor's covered, but the facility he operates under isn't enhanced coverage or not covered at all, and the only facility available in-network is 3 weeks away from having an opening.  

[hayward]

But you can keep your doctor.

[Highmark]

Medicare makes HC facilities and HI companies do all the work then claims its OH his low.    

[$poorsledder$]

Other side(s) of single payer...

When a party other than a patient or a provider starts making healthcare decisions, it’s easy to lose sight of whose interests should be paramount in a healthcare transaction. Governments and private insurers often have conflicting agendas regarding treatment, but a sick person never does. He or she just has one goal: recuperation.

 

https://www.investopedia.com/articles/personal-finance/112713/drawbacks-singlepayer-healthcare.asp

 

 

[Highmark]

Single payer will lead to more and more govt control of our lives.

Instead of being a fat smoker costing you more to get HI the govt will just start to ban things for everyone.

[racer254]

15 minutes ago, Highmark said:

Single payer will lead to more and more govt control of our lives.

Instead of being a fat smoker costing you more to get HI the govt will just start to ban things for everyone.

That's exactly what they want.