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mulhollanddriven Donating Member (34 posts) Send PM | Profile | Ignore Sun Aug-23-09 01:22 PM
Original message
Anyone know anything about this?
This is something I haven't heard anyone bring up, and I don't understand it at all so I was hoping someone could explain it.

If there were a public option that were passed....what would be the effect on the market, shareholders, and people who have insurance company investments (like annuities...) Would it just evaporate immediately? Im not completely sure how annuities work but would they be affected?

I guess what Im saying is...we all know the CEOs and management would lose out, but what about investors? Is that something that needs to be addressed? Also, would it impact jobs? I don't really care if these CEOs lose out but what about retirees and pensionholders and employees, etc....has any of that been addressed? I don't think I have heard anything about the effect a public option (which I support) would have on those people.

Just lookin for some education here
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sam sarrha Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 01:26 PM
Response to Original message
1. the paperwork would be contracted out to them, the CEO's couldn't steal the money
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Faygo Kid Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 01:27 PM
Response to Original message
2. Welcome to DU. And goodbye.
"Just lookin for some education here"

Yeah, and I just fell off the turnip truck.


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mulhollanddriven Donating Member (34 posts) Send PM | Profile | Ignore Sun Aug-23-09 01:35 PM
Response to Reply #2
9. Wow, thanks for the insult
Ive been reading DU since the day it first went online. I voted for Dean (as did my entire family) and voted for Kerry and Obama.

The reason I was wondering specifically the question was because I have a family member that lives off of annuities.

The reason I haven't joined until now is because of the behavior you just displayed.
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Faygo Kid Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 02:24 PM
Response to Reply #9
19. No offense intended. But we have seen this plenty on DU.
24 posts? Get a backbone, and stand up to the likes of me.

And others. We need some fight here. The behavior I just displayed was what we need.

Glad you're on our side after all, though.
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spiritual_gunfighter Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 01:42 PM
Response to Reply #2
14. smiley n/t
Edited on Sun Aug-23-09 01:43 PM by spiritual_gunfighter
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Laelth Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 01:28 PM
Response to Original message
3. Welcome to DU.
I suspect that if the public option were wildly successful (and that's the only way it would be actually useful), those who had invested in the vampiric insurance companies would take a hit, across the board. To that I say, too bad. We can not afford to continue paying their dividends. No person should get rich off of another's illness.

I suspect you knew this already. Your concern is noted and dismissed.

:dem:

-Laelth
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sharesunited Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 01:28 PM
Response to Original message
4. A public option doesn't put insurance companies out of business.
It just limits how much they can charge in premiums and deny in claims before they lose business which used to be more or less captive.

As for annuities, they are based on life insurance principles of underwriting and investing, and would be unaffected by changes in the health insurance business.
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mulhollanddriven Donating Member (34 posts) Send PM | Profile | Ignore Sun Aug-23-09 01:37 PM
Response to Reply #4
10. Thank you for answering my question and not insulting me
:toast:
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imdjh Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 01:43 PM
Response to Reply #10
15. Even if we went to "single payer" I would bet there would be admin contracts for existing companies.
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Lex Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 01:29 PM
Response to Original message
5. The public option doesn't shut down private insurance, just gives it some competiton.
Competition leads to efficiency and innovation.

Should be a win-win.

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asdjrocky Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 01:32 PM
Response to Original message
6. Yeah. I see where you are going here.
My real concern, as is, and should be all Americans concern, is the insurance industry and the investor class.

When I wake up in the morning, the first thing I ask myself is what can I do for wallstreet. How can we further legislation that makes the investor class more money.

I'm afraid of the public option too because look at what public libraries have done to book stores.

Really, you have to bring a much better game than that to DU. Some of the people around here are scary smart and I'm not one of them. If I spot you this easy, just think what they can do to you.

Have a nice day.
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mulhollanddriven Donating Member (34 posts) Send PM | Profile | Ignore Sun Aug-23-09 01:41 PM
Response to Reply #6
13. Why the vitriol?
The "investor class" in this case happens to be my Mom. That is why I asked the question. She lives off of annuities. I was wondering how it would affect her.

For the record....I support a public option. I didn't support the bailouts and Wall St can go fuck itself.

This kind of attitude is a great way to run off people from this site. Nice work!
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asdjrocky Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 01:46 PM
Response to Reply #13
16. I'm the bad guy here?
That's rich. Hey, if the truth runs you off, then be on your way friend. If you're looking for a site that defends moderate misgivings, you picked the wrong site.

This is the underground.

Now, if I'm wrong, and you aren't a troll and are just sadly misinformed then I apologize for my snap judgment. We deal with concern trolls every day here, and it gets a little old. If you are misinformed then I suggest you stick around for a while, because this is where the truth lives. I've learned a lot in my time here.

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mulhollanddriven Donating Member (34 posts) Send PM | Profile | Ignore Sun Aug-23-09 01:59 PM
Response to Reply #16
18. I state in my original post that I am sadly misinformed about this issue
And I know this site deals with concern trolls, but that's what the rules and the moderators are for. You could have searched my name and read my other posts before making a snap judgement about me. That is why you have to make a certain amount of posts before you are allowed to start a thread.



Honestly I don't understand concern trolls anyway. Anyone who reads this site has their mind made up and isn't going to be persuaded by anything.
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dkf Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 01:32 PM
Response to Original message
7. Any investor that doesn't take the risk of a public option into consideration
is an IDIOT who deserves to lose money.

Its called political risk and we all know that is why big money jumps into these situations.
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blm Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 01:34 PM
Response to Original message
8. How are FedEx, UPS, DHL and USPS coexisting?
.
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 02:36 PM
Response to Reply #8
22. Zzzzzzzzzzzoom. Bullseye. Perfect. nt
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napi21 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 01:38 PM
Response to Original message
11. I'm sure no expert, but I would say there would be little to no
impact on ins. investments or ins. co. employees. Even Medicare claims processing is done by one of the ins. cos. I suspect the CEO's would have to take a cut...as well they should. So,eone who has a very difficult and responsible job deserves a good wage, but when you start talking multimillions a year, something is wrong. NOBODY, and I do mean NOBODY is worth that much! I personally would recommend a top salary of $1 million at the very most, and maybe a bonus based upon success of the company. In HC, that should not necessarily mean profit, but more satisfaction of their insureds.

Like it or not, there really is a point where someone can have more money than they know what to do with!
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Vinca Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 01:39 PM
Response to Original message
12. The investors might have to settle for a small profit
as opposed to an obscene profit made off the suffering of the masses.
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lapfog_1 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 01:53 PM
Response to Original message
17. Actually we don't "all know the CEO's and investors lose out"
Edited on Sun Aug-23-09 01:56 PM by lapfog_1
because most large companies, and large unions, will stay with their current health care plans. The health insurance companies will suffer some loss of revenue, but it may not be all that dramatic. In addition, not all health insurance companies compete in other forms of insurance (life, home, fire, property)... and it's mostly companies in those spaces that offer annuity investments mine (before I cashed it in because I was broke) was through State Farm, who does not compete in health care.

So, if this is a personal question, find out what the annuity plan is, who is the company behind it (and their various subsidiaries, etc), and then be prepared to make a move in a year or so after the bill passes, but only if revenues are down at the company which is servicing your annuity.
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juno jones Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 02:31 PM
Response to Original message
20. Sorry.
As a working class stiff who could use some heath care after making money for the parasitical rich for almost three decades, I could frankly give a holy shit about people who invested in a market designed to make money off of other's illnesses.



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metapunditedgy Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 02:35 PM
Response to Original message
21. The free market is so efficient that it has already accounted for this.
Any investors who did not plan for a public option are irrational.

Seriously, the same people who argue that the market is capable of accounting for our future global oil needs seem to be getting all twisted up about investors suffering from the public option.
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