Taking "profit" out of the health care industry
Listening to Air America radio again (it was my turn) you will hear many callers and hosts saying that the profit motive should be taken completely out of the health care industry, the idea being that the reason costs are so high is because insurance companies make such obscene profits.
My health insurance carrier is Assurant. Assurant's profit margin is 7.82%.
You have to remember that while ObamaCare may not actually make a "profit" per se, that any government bureacracy requires administrative overhead, especially one as massive as one that would handle President Obama's socialized medicine program. To the consumer, me, there is no difference between paying for what ends up as profit and what ends up as overhead.
Anybody want to make the case that the monster federal bureaucracy staffed with union-protected bureacrats and their overly-generous government pensions is going to have an administrative overhead level less than Assurant's 7.82% profit margin?
The government's overhead will be much higher. As will the waiting list for care be.
Presuming that you aren't too old to get the government's rationed care to begin with.
Plus, the Congress is making a strategic error by trying to take the profit out of so many industries. You would think that the last thing they would want to do is free up a bunch of smart people from high income jobs and make politics more attractive in comparison to the private sector.
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GOP Healthcare Plan: Delay, Obstruct, Lie, Rinse, Repeat
http://tinyurl.com/mt5hlr
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>>Anybody want to make the case that the monster federal bureaucracy staffed with union-protected bureacrats and their overly-generous government pensions is going to have an administrative overhead level less than Assurant's 7.82% profit margin? The government's overhead will be much higher.Is there any wingnut propaganda you people won't swallow? On top of that 7.82% you are so proud of you can ad another 20 to 25 percent administrative overhead costs bringing the total for most private insurance companies to between 25 and 35 percent. Medicare's total overhead is estimated at between 2 and 7 percent.
>>As will the waiting list for care be.Yet another duped out exaggeration paid for by wealthy medical interests.
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Why are you adding additional "overhead" costs of 20 to 25% on top of the 7.82% profit margin?
The 7.82% number already includes the administrative overhead.
Ah, IsleCook. I see you make up numbers just as you do recipes.
Or is this from the Moonbat's Cookbook?
I defy you to produce a single number which confirms that Medicare's total overhead is between 2 and 7 percent.
I defy you. It's government. If 72% of dole money is swallowed by the bureaucracy, it is delusional to think that Medicare's will be les than 1/10 that.
In 1940 in Buchenwald I made a lot of lampshades out of human skin. Ah,those were the days.
Very chilling prospect. Dr. Johnson said that there was no pursuit that he thought more harmless than the making of money.