Worse Than the Mob: The Insurance Industry Is Organized Crime

[bvar22]

46. The latest estimate I have seen is about $1 TRILLION over 10 years.

Last edited Thu Mar 6, 2014, 07:32 PM - Edit history (1)

That amounts to about $100BILLION per year in "subsidies" to the Health Insurance Industry.

By law, the Insurance Industry has to spend 80% of that on actual Health Care,
but I don't believe the ACA provides for a Watch Dog Agency to make sure that this money is spent on actual health Care, and Wendell Potter has said that the Health Insurance Industry is already gaming THAT part of the ACA.

...but lets assume that the Health Insurance Industry follows the law (LOL),
and spends 80% on Health Care,
that leaves 20% of the $100Billion,
subtract $3 Billion for overhead,
and that leaves $17 Billion dollars of public tax money going straight into their private pockets as PROFIT EVERY YEAR!

Kinda makes the $4 Billion we give to the Oil Industry look like peanuts,
At least we get some oil from the Oil Industry for our money.
We get NOTHING for our money from the Health Insurance Industry.

The Health Insurance Industry:

*Manufactures NOTHING

*Produces NO useful product

*Provides NO Useful Service

*produces NO Value Added Wealth

Money for nothing = "The Uniquely American Solution"