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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 10:14 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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  -Whoa, don't miss what is buried in this article re the windfall for the health insurance industry. seafan  Sep-10-09 07:02 PM   #0 
  - I think that's the whole idea.  FiveGoodMen   Sep-10-09 07:07 PM   #1 
  - +1  Laelth   Sep-10-09 07:51 PM   #12 
  - "Health care reform without a public option 'would be fantastic'"  villager   Sep-10-09 07:08 PM   #2 
  - "AP" and "Analysts" - two terms that make me wary of such stories.  emulatorloo   Sep-10-09 07:10 PM   #3 
  - Three analysts and their firms' identities are named in this clip.  seafan   Sep-10-09 07:18 PM   #5 
     - Here then, read a little about them. BMO, Longbow, HPSA (clients include HMOs and BLue Cross)  emulatorloo   Sep-10-09 07:25 PM   #6 
        - All three of them seem pretty pleased with what is happening. Just short of celebrating, I'd say.  seafan   Sep-10-09 07:44 PM   #11 
  - H. Edward Hanway, CEO of Cigna, cries about paper-thin margins.  subterranean   Sep-10-09 07:11 PM   #4 
  - Here's Kent Conrad admitting that co-ops won't drive down health care costs....  seafan   Sep-10-09 07:30 PM   #7 
  - "There's a reason they aren't running any negative ads."  TacticalPeek   Sep-10-09 07:35 PM   #8 
  - aww shaddup - he hit it out of the park :sarcasm:  Donnachaidh   Sep-10-09 07:36 PM   #9 
  - "There's a reason they aren't running any negative ads." ....  slipslidingaway   Sep-10-09 07:43 PM   #10 
  - Any plan that mandates private insurance, without adding competition  Doctor_J   Sep-10-09 07:51 PM   #13 
  - Bullshit Story from the AP.  berni_mccoy   Sep-10-09 07:53 PM   #14 
  - translation -- waa waa, they are saying mean things about our plan. n/t  Donnachaidh   Sep-10-09 08:11 PM   #16 
  - was a really nicely written speech and very well delivered.  Tierra_y_Libertad   Sep-10-09 08:07 PM   #15 
  - no shit sherlock...where were you all a few months ago when I was bringing all this up?  cbdo2007   Sep-10-09 08:14 PM   #17 
  - With all due respect,  seafan   Sep-10-09 08:30 PM   #20 
  - i missed all of your posts, would be interested in links.  inna   Sep-11-09 12:31 AM   #21 
     - No links necessary - this article pretty much explains it.  cbdo2007   Sep-11-09 07:15 AM   #22 
     - Here are a few.  seafan   Sep-11-09 11:39 AM   #27 
        - awesome, thanks for the links.  inna   Sep-11-09 01:53 PM   #36 
  - More from the piece, now in the NYT:  seafan   Sep-10-09 08:19 PM   #18 
  - "back-of-the-envelope calculation"  Capn Sunshine   Sep-10-09 08:22 PM   #19 
  - The profit margins are so thin? Who are they kidding?  Vinca   Sep-11-09 07:18 AM   #23 
  - Edward Hanway, The $22mm/year CEO of Cigna.  Ruby the Liberal   Sep-11-09 08:46 AM   #24 
  - if there's one thing we can be absolutely sure of, it's that insurance company profits . . .  OneBlueSky   Sep-11-09 10:38 AM   #25 
  - HR 676. Now or Never.  Roland99   Sep-11-09 10:44 AM   #26 
  - H.R. 676 is the only real answer.  Dr.Phool   Sep-11-09 12:03 PM   #29 
  - "...I'd have freed a thousand more, it they only knew they were slaves"  Greyhound   Sep-11-09 02:13 PM   #37 
  - It's been obvious all along - look at no fault auto insurance!  blueworld   Sep-11-09 11:58 AM   #28 
  - All of these fancy tricks are aimed at one target: the people.  seafan   Sep-11-09 01:32 PM   #31 
  - Aside -  truedelphi   Sep-11-09 01:46 PM   #33 
  - I was wondering  Butch350   Sep-11-09 01:24 PM   #30 
  - As long as health insurance companies are middle men, skimming profits off the top, it won't work.  seafan   Sep-11-09 01:48 PM   #34 
  - Obama is to be commended for...  truedelphi   Sep-11-09 01:43 PM   #32 
  - '...We can't start from scratch---we must work with what we have..'  seafan   Sep-11-09 03:22 PM   #39 
  - Depressing.  AzDar   Sep-11-09 01:49 PM   #35 
  - Yes n/t  aaronbav   Sep-11-09 02:27 PM   #38 
  - It seems that were headed that way ...  zoff   Sep-11-09 11:53 PM   #45 
  - Over at GDP, they rated a post with this information down below 0  debbierlus   Sep-11-09 05:09 PM   #40 
  - Joe Wilson and AHIP Team Up to Write Max Baucuss Health Care Bill By: Jane Hamsher  flyarm   Sep-11-09 05:41 PM   #41 
  - Thanks, fly, for all of that information. Good to see you here. n/t  seafan   Sep-11-09 11:24 PM   #44 
  - So many of us on DU and elsewhere have been cautioning about this for months!  nightrain   Sep-11-09 07:27 PM   #42 
  - Mr. President said he was open to new ideas. I have two.  Bette Noir   Sep-11-09 10:14 PM   #43 

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