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(Guardian)   The health insurance industry has seen its quarterly profits double from last year   (theguardian.com) divider line
    More: Sick, Health insurance, Health care, Insurance, US health insurers, Health economics, billions insurance companies, Medicare, Linda Blumberg  
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417 clicks; posted to Business » and Main » on 14 Aug 2020 at 12:20 PM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2020-08-14 11:18:10 AM  
The most enriching pandemic money can buy.
 
2020-08-14 11:23:21 AM  
How is this not criminal?
 
2020-08-14 11:24:40 AM  
You mean Sanders and Warren are right?
 
2020-08-14 12:07:09 PM  

Nadie_AZ: How is this not criminal?



This is absolutely criminal. And we're not doing anything about it. We're not demanding our politicians do anything about it.
Hopefully, we'll have the f*cking balls to hold Biden, Harris, and a more competent congress accountable for making some meaningful changes over the next couple years.

/or we'll elect the 'other side' and fall back into chubby complacency  :(
 
2020-08-14 12:09:05 PM  
Health insurers are parasites, and their host is the American public.  Those are some fat ticks.
 
2020-08-14 12:29:08 PM  
I said to my wife the other day: I am paying hundreds a month to insure my daughter an myself, and we're not going to any doctors.
 
2020-08-14 12:34:53 PM  
Because they kept raking in premiums, but people avoided hospitals?

*Clicks article*

Yep.
 
2020-08-14 12:36:34 PM  
We're living in a farked up Spaghetti Western.

Where health had no value,
Illness, sometimes,
Had Its Price.

That is why The
Health Insurance Companies Appeared.
 
2020-08-14 12:36:41 PM  

educated: Nadie_AZ: How is this not criminal?

This is absolutely criminal. And we're not doing anything about it. We're not demanding our politicians do anything about it.
Hopefully, we'll have the f*cking balls to hold Biden, Harris, and a more competent congress accountable for making some meaningful changes over the next couple years.

/or we'll elect the 'other side' and fall back into chubby complacency  :(


Stop with the knee-jerk outrage.  Insurance industry is terrible, and the approach to healthcare in this country needs change.  However, these profits have nothing to do with that.  RTFA:

"People were avoiding the doctor's office and delaying elective surgeries such as knee replacement. Those with mild symptoms of Covid-19 were initially advised to stay home unless they needed urgent care.
But the money insurance companies collect each month from individuals, known as premiums, kept pouring in."

In other words, people paid their insurance, but didn't go to the doctors.  Of course profits would soar, but there's no criminal conspiracy to it (again, setting aside the entire question of how insurance operates).
 
2020-08-14 12:37:26 PM  

Nadie_AZ: How is this not criminal?


America, yo.
 
2020-08-14 12:38:52 PM  
I've done my part to make sure that doesn't happen.  Wait'll they get the bill from infectious disease doctor.
Fark user imageView Full Size
 
2020-08-14 12:40:13 PM  

SaladMonkey: educated: Nadie_AZ: How is this not criminal?

This is absolutely criminal. And we're not doing anything about it. We're not demanding our politicians do anything about it.
Hopefully, we'll have the f*cking balls to hold Biden, Harris, and a more competent congress accountable for making some meaningful changes over the next couple years.

/or we'll elect the 'other side' and fall back into chubby complacency  :(

Stop with the knee-jerk outrage.  Insurance industry is terrible, and the approach to healthcare in this country needs change.  However, these profits have nothing to do with that.  RTFA:

"People were avoiding the doctor's office and delaying elective surgeries such as knee replacement. Those with mild symptoms of Covid-19 were initially advised to stay home unless they needed urgent care.
But the money insurance companies collect each month from individuals, known as premiums, kept pouring in."

In other words, people paid their insurance, but didn't go to the doctors.  Of course profits would soar, but there's no criminal conspiracy to it (again, setting aside the entire question of how insurance operates).


Best cut that quarterly bonus for the CEOs before COVID bills start coming in.
 
2020-08-14 12:44:06 PM  

SaladMonkey: (again, setting aside the entire question of how insurance operates).


That is exactly what I am arguing against, weirdo :)

Nothing knee-jerk about my response.
 
2020-08-14 12:45:34 PM  
Since March, my motor vehicle insurance, NJ Manufacturers, has sent out two refund checks because members in NJ were driving so much less. Claims were down and they had excess funds.

I'd gladly take a comparable refund from Amerihealth.
 
2020-08-14 12:48:57 PM  

Nadie_AZ: How is this not criminal?


Because it's working as intended.
 
2020-08-14 12:55:13 PM  
If at the end of the year, the MLR is lower than 80%, they will have to give back the premiums in the form of a rebate. This, of course, is as prescribed by Obamacare. But don't let that get in the way of anything. Insurance company's profits are managed by law and are otherwise highly regulated by federal and state rules.
 
2020-08-14 12:56:51 PM  
Economic terrorists
Give me the money or die.
 
2020-08-14 12:59:26 PM  

rgGolf4: If at the end of the year, the MLR is lower than 80%, they will have to give back the premiums in the form of a rebate. This, of course, is as prescribed by Obamacare. But don't let that get in the way of anything. Insurance company's profits are managed by law and are otherwise highly regulated by federal and state rules.


Where we are going, we don't need no federal and state rules.
 
2020-08-14 1:03:53 PM  

educated: SaladMonkey: (again, setting aside the entire question of how insurance operates).

That is exactly what I am arguing against, weirdo :)

Nothing knee-jerk about my response.


I see your point, but your post made it sound like this particular increase in profits was criminal.  In fact it is no more criminal than the way insurance always ran.
 
2020-08-14 1:06:25 PM  

Unobtanium: Because they kept raking in premiums, but people avoided hospitals?

*Clicks article*

Yep.


Kaiser keeps telling us we need to meet access goals and are going broke  despite the fact they made more money than they did last year
 
2020-08-14 1:12:21 PM  
Because a national law required individuals to purchase health insurance?
 
2020-08-14 1:14:35 PM  

SaladMonkey: educated: SaladMonkey: (again, setting aside the entire question of how insurance operates).

That is exactly what I am arguing against, weirdo :)

Nothing knee-jerk about my response.

I see your point, but your post made it sound like this particular increase in profits was criminal.  In fact it is no more criminal than the way insurance always ran.



Yeah - I can see that. I will try to be more clear going forward.
 
2020-08-14 1:31:39 PM  

Nadie_AZ: How is this not criminal?


Hah,
It's the only public health care system in the world that is designed to close in a national health emergency.  They make more money when providers close.  For some reason red state morons think this is great, and that their health care dollars are well spent.  They also naively believe that Donald Trump has a comprehensive viable replacement for Obamacare, and they believe he is the word of God made flesh, is fighting alien DNA and demon semen in pharmaceuticals, as well as the Deep State who is causing all the bad things to happen in their life.
It's insanity all around.
 
2020-08-14 1:44:49 PM  
When Republicans say we have the best healthcare system in the world, they are referring to profits.
 
2020-08-14 1:46:21 PM  

Nadie_AZ: How is this not criminal?


Please expand on your logic here.  What actual thing do you think should be illegal, and why?
 
2020-08-14 1:52:24 PM  

kyleaugustus: Since March, my motor vehicle insurance, NJ Manufacturers, has sent out two refund checks because members in NJ were driving so much less. Claims were down and they had excess funds.

I'd gladly take a comparable refund from Amerihealth.


Well car insurance companies actually have to compete for your business, so this is completely logical. Most people have only one (realistic) choice for health insurance, and (without a job change or major life event) and can only change at a specific timeframe each year.  Car insurance can be changed the next day.
 
2020-08-14 1:55:34 PM  

Northern: It's the only public health care system in the world that is designed to close in a national health emergency.


Are you under the impression that countries that had their shiat together were doing elective surgeries without skipping a beat?
 
2020-08-14 2:02:06 PM  

BMFPitt: Northern: It's the only public health care system in the world that is designed to close in a national health emergency.

Are you under the impression that countries that had their shiat together were doing elective surgeries without skipping a beat?


Oh, you mean countries with a plan.
 
2020-08-14 5:13:40 PM  

BMFPitt: Northern: It's the only public health care system in the world that is designed to close in a national health emergency.

Are you under the impression that countries that had their shiat together were doing elective surgeries without skipping a beat?


Hospitals could have been converted to respiratory wards, and mass testing centers.
 
2020-08-14 5:57:14 PM  

H31N0US: I said to my wife the other day: I am paying hundreds a month to insure my daughter an myself, and we're not going to any doctors.


Insurance is just gambling against yourself. The big payday occurs when you become significantly ill or severely injured.

You're just playing the odds of your body suffering catastrophic failure.
 
2020-08-14 6:48:18 PM  
Lessee, as opposed to what Faux "News" and the rest scream...

The last couple years I worked (I retired last year), my company was paying over $12, 000 a year for each and every employee's health benefits. And, since I had the "gold" plan, I payed another $2k or so.

Meanwhile, according to stats from around '16, Medicare averages $7400/yr for men, and $8300/yr for women. Now, if companies could buy into that, what are the odds any of them would pay for commercial insurers.

Oh, but single payer Medicare for All is TERRIBLE, and AWFUL (If you're an insurance co).
 
2020-08-14 7:06:19 PM  
That's because people have forgone routine and elective procedures. Not a surprise nor the fact that rates haven't gone down not a surprise either.
 
2020-08-14 9:05:16 PM  

Northern: Hospitals could have been converted to respiratory wards, and mass testing centers.


They did convert wards to handle COVID cases, but it would have been dumb to have mass testing there, as you want that to be in large open spaces.
 
2020-08-14 9:07:45 PM  
Trickle down at its finest.
 
2020-08-14 9:16:38 PM  

BMFPitt: Northern: Hospitals could have been converted to respiratory wards, and mass testing centers.

They did convert wards to handle COVID cases, but it would have been dumb to have mass testing there, as you want that to be in large open spaces.


It was outside the NYC hospitals in tents.
 
2020-08-14 9:18:23 PM  

educated: Nadie_AZ: How is this not criminal?

This is absolutely criminal. And we're not doing anything about it. We're not demanding our politicians do anything about it.
Hopefully, we'll have the f*cking balls to hold Biden, Harris, and a more competent congress accountable for making some meaningful changes over the next couple years.

/or we'll elect the 'other side' and fall back into chubby complacency  :(


And Jesus fark dude. The left side LBGTQ whatever is all over HAES and all bodies matter. Right wing has some fat arse politicians and the lazy rednecks (as a redneck I'm allowed to include my people!).

But the left is the one supporting that obesity and weight gain is beautiful and should not be shunned but be accepted as beautiful.

As an apathetic citizen (don't care. Both sides suck and have an agenda, have not voted or done jury duty in 15 years) clean your house first before you look at your neighbors.

Obama turned the pyramid into a plate. Congratufarkulations. Yall still eating yourself to death. Trump is big on fast food and SAD (standard American Diet). Both sides suck.

Don't act like it's the other side when America is fat on both sides and Corona is offing the obese like a fat kid nothing on a large popcorn in the theater.
 
2020-08-14 9:53:39 PM  
They have mastered the ability to redirect the attention of the masses away from important issues and make America focus on other issues that are mainly irrelevant.

That is why terrible things like this will continue to keep happening.
 
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