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Reply #43: Mr. President said he was open to new ideas. I have two. [View All]

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Bette Noir Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-11-09 11:14 PM
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43. Mr. President said he was open to new ideas. I have two.
You know how charities have to tell potential donors how much of their donations goes to overhead, and how much to program? Insurance companies should have to tell customers how much of the premiums they take in goes to overhead, and how much to paying out benefits.

You know how casinos have to pay out a certain proportion of the bets they take in in winnings? Insurance companies should have to pay out a set proportion of their premiums in benefits, by law, if they want to stay in business. I propose 95%.

The whole idea that a "public option" that's not available for the public to buy into giving competition to the insurance companies is ludicrous. The whole point of the proposal, as Mr. President outlined it Wednesday, seems to be to protect insurance company profits.

The line about "profit margins" being "razor thin" is hooey. "Profits" are what's left over after they pay themselves hundreds of millions of $$$$/year, and paying for scads of advertising, and rafts of droids to cut off people's benefits.

Somebody else pointed out that health insurance is an unsustainable bubble. I concur.
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