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Thread: Florida Blue cutting 300K policies

  1. #211
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    Re: Florida Blue cutting 300K policies

    Quote Originally Posted by Boo Radley View Post
    Yes, some wIll rise, as there is always more than one way to do anything, but the gap between haves and have nots will grow. That may be worse than what we have now.
    I don't believe that either. Many without degrees end up being your local business owners that keep a community growing

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    Re: Florida Blue cutting 300K policies

    Quote Originally Posted by winston53660 View Post
    Can you do what engineers do?
    Some things but that is not my description. I can probably run most projects better as my world extends out past the plant giving me more experience with other projects within our internal network.

  3. #213
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    Re: Florida Blue cutting 300K policies

    Quote Originally Posted by vasuderatorrent View Post
    If the government stopped subsidizing colleges and students very few people would go to school. It would cost a fortune. That way the people who truly deserve a college education will get one instead of making it a right that everyone is entitled. That leads to occupy wall street.

    vasuderatorrent
    Why would it? I was making around 65k per year when my kids went and all of them graduated without any debt. All of them worked and covered their books and living expenses. Why are parents afraid to ask their kids to invest in themselves? Borrowing ridiculous amounts of money for the "college experience" is stupid and people that do it deserve that high interest they are seeing now.

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    Re: Florida Blue cutting 300K policies

    Quote Originally Posted by Rocketman View Post
    I don't believe that either. Many without degrees end up being your local business owners that keep a community growing
    I would love to see the number of those without degrees who have been that successful today. Can you show me those?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Florida Blue cutting 300K policies

    Quote Originally Posted by Boo Radley View Post
    I would love to see the number of those without degrees who have been that successful today. Can you show me those?
    I would love to see the number of those with college degrees that graduated after 2008 that have had success at anything other than earning minimum wage. Can you show me those?

    vasuderatorrent

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    Re: Florida Blue cutting 300K policies

    Quote Originally Posted by Boo Radley View Post
    I would love to see the number of those without degrees who have been that successful today. Can you show me those?
    List of college-dropout billionaires

    Steve Jobs would be on this list if still living

    1.Bill Gates[4] – US
    2.Mark Zuckerberg[5] – US
    3.Lawrence Ellison[6] – US
    4.Eike Batista[7] – Brazil
    5.Michael Dell[8] – US
    6.Marc Rich[9] – US
    7.Ty Warner[10] – US
    8.Gautam Adani[11] – India
    9.Micky Jagtiani[12] – India
    10.Shahid Balwa[13] – India
    11.Subhash Chandra[14] – India
    12.Vinod Goenka[15] – India
    13.PNC Menon[16][17] – India
    14.Roman Abramovich[18] – Russia
    15.Sheldon Adelson[19] – US
    16.Amancio Ortega[20] – Spain
    17.Kirk Kerkorian[21][note 1] – US
    18.Donald Newhouse[22] – US
    19.François Pinault[23] – France
    20.Jack Taylor[24] – US
    21.Joaquín Guzmán Loera[25] (Mexican drug lord) – Mexico
    22.David Geffen[26] – US
    23.David Murdock[27][note 2] – US
    24.Ted Turner[28] – US
    25.Henry Fok[29] (d. 2006) – Hong Kong
    26.Ralph Lauren[30] – US
    27.Mohammed Al Amoudi[31] – Saudi Arabia
    28.Stanley Ho[32] – Hong Kong
    29.Gabe Newell[33] - US
    30.Dustin Moskovitz[34] – US
    31.Richard Li[35] – Hong Kong
    32.Sheldon Solow[36] - US
    33.Stef Wertheimer[37][38] - Israel
    34.Ted Waitt[39] - US

    List of college dropout billionaires - Wikipedia, the free encyclopedia

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    Re: Florida Blue cutting 300K policies

    Quote Originally Posted by vasuderatorrent View Post
    I would love to see the number of those with college degrees that graduated after 2008 that have had success at anything other than earning minimum wage. Can you show me those?

    vasuderatorrent
    I bet I can.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  8. #218
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    Re: Florida Blue cutting 300K policies

    Quote Originally Posted by cpwill View Post
    That's amazing! You have ESP, and can read everyone else's insurance policies!

    ....Or you are making unfounded assumptions, in a vain attempt to claim that the insurance people are being kicked off of - which the vast majority of them liked - isn't that big of a loss in order to cover the cognitive dissonance spawned by the damages of Obamacare.
    Hey cpwill, good to see you!

    However, to prove that my point is false, you must show that the health ins. company death panels did NOT rescind any insurance policies when people got serious illnesses such as cancer or heart disease. GO.

    I will show that the health ins. death panels did JUST THAT, drop their insured when they got serious illnesses and cost them too much. Watch.

    June 24, 2009

    Mr. Chairman, thank you for the opportunity to be here this afternoon. My name is Wendell Potter and for 20 years, I worked as a senior executive at health insurance companies, and I saw how they confuse their customers and dump the sick — all so they can satisfy their Wall Street investors.

    I know from personal experience that members of Congress and the public have good reason to question the honesty and trustworthiness of the insurance industry. Insurers make promises they have no intention of keeping, they flout regulations designed to protect consumers, and they make it nearly impossible to understand — or even to obtain — information we need. As you hold hearings and discuss legislative proposals over the coming weeks, I encourage you to look very closely at the role for-profit insurance companies play in making our health care system both the most expensive and one of the most dysfunctional in the world. I hope you get a real sense of what life would be like for most of us if the kind of so-called reform the insurers are lobbying for is enacted.

    <snip>

    A few months after I joined the health insurer CIGNA Corp. in 1993, just as the last national health care reform debate was underway, the president of CIGNA's health care division was one of three industry executives who came here to assure members of Congress that they would help lawmakers pass meaningful reform.

    Those goals included covering all Americans; eliminating underwriting practices like pre-existing condition exclusions and cherry-picking; the use of community rating; and the creation of a standard benefit plan. Had the industry followed through on its commitment to those goals, I wouldn't be here today.

    <snip>

    The average family doesn't understand how Wall Street's dictates determine whether they will be offered coverage, whether they can keep it, and how much they'll be charged for it. But, in fact, Wall Street plays a powerful role. The top priority of for-profit companies is to drive up the value of their stock.

    <snip>

    To help meet Wall Street's relentless profit expectations, insurers routinely dump policyholders who are less profitable or who get sick. Insurers have several ways to cull the sick from their rolls. One is policy rescission. They look carefully to see if a sick policyholder may have omitted a minor illness, a pre-existing condition, when applying for coverage, and then they use that as justification to cancel the policy, even if the enrollee has never missed a premium payment. Asked directly about this practice just last week in the House Energy and Commerce Committee, executives of three of the nation's largest health insurers refused to end the practice of cancelling policies for sick enrollees. Why? Because dumping a small number of enrollees can have a big effect on the bottom line. Ten percent of the population accounts for two-thirds of all health care spending. The Energy and Commerce Committee's investigation into three insurers found that they canceled the coverage of roughly 20,000 people in a five-year period, allowing the companies to avoid paying $300 million in claims.

    They also dump small businesses whose employees' medical claims exceed what insurance underwriters expected. All it takes is one illness or accident among employees at a small business to prompt an insurance company to hike the next year's premiums so high that the employer has to cut benefits, shop for another carrier, or stop offering coverage altogether — leaving workers uninsured. The practice is known in the industry as "purging." The purging of less profitable accounts through intentionally unrealistic rate increases helps explain why the number of small businesses offering coverage to their employees has fallen from 61 percent to 38 percent since 1993, according to the National Small Business Association. Once an insurer purges a business, there are often no other viable choices in the health insurance market because of rampant industry consolidation.

    An account purge so eye-popping that it caught the attention of reporters occurred in October 2006 when CIGNA notified the Entertainment Industry Group Insurance Trust that many of the Trust's members in California and New Jersey would have to pay more than some of them earned in a year if they wanted to continue their coverage. The rate increase CIGNA planned to implement, according to USA Today, would have meant that some family-plan premiums would exceed $44,000 a year. CIGNA gave the enrollees less than three months to pay the new premiums or go elsewhere.

    Purging through pricing games is not limited to letting go of an isolated number of unprofitable accounts. It is endemic in the industry. For instance, between 1996 and 1999, Aetna initiated a series of company acquisitions and became the nation's largest health insurer with 21 million members. The company spent more than $20 million that it received in fees and premiums from customers to revamp its computer systems, enabling the company to "identify and dump unprofitable corporate accounts," as The Wall Street Journal reported in 2004. Armed with a stockpile of new information on policyholders, new management and a shift in strategy, in 2000, Aetna sharply raised premiums on less profitable accounts. Within a few years, Aetna lost 8 million covered lives due to strategic and other factors.

    While strategically initiating these cost hikes, insurers have professed to be the victims of rising health costs while taking no responsibility for their share of America's health care affordability crisis. Yet, all the while, health-plan operating margins have increased as sick people are forced to scramble for insurance.

    Unless required by state law, insurers often refuse to tell customers how much of their premiums are actually being paid out in claims. A Houston employer could not get that information until the Texas legislature passed a law a few years ago requiring insurers to disclose it. That Houston employer discovered that its insurer was demanding a 22 percent rate increase in 2006 even though it had paid out only 9 percent of the employer's premium dollars for care the year before.
    Bill Moyers Journal . Testimony of Wendell Potter | PBS

    I don't have to read everyone's policy to KNOW that the sick are being kicked off their policy, it is a matter of congressional record via the sworn testimony of Mr. Potter, a former executive inside the industry. These are NOT UNFOUNDED STATEMENTS, and it is NOT A VAIN ATTEMPT TO SHOW PEOPLE ARE BEING KICKED OFF THEIR POLICY, it is the sworn testimony of a former industry insider.

    If you disagree with me, the onus is now on you to show proof that the health insurance industry does NOT KICK PEOPLE OFF their insurance policy when they get very sick and start costing the ins. company too much. GO.

  9. #219
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    Re: Florida Blue cutting 300K policies

    Quote Originally Posted by Rocketman View Post
    List of college-dropout billionaires

    Steve Jobs would be on this list if still living

    1.Bill Gates[4] – US
    2.Mark Zuckerberg[5] – US
    3.Lawrence Ellison[6] – US
    4.Eike Batista[7] – Brazil
    5.Michael Dell[8] – US
    6.Marc Rich[9] – US
    7.Ty Warner[10] – US
    8.Gautam Adani[11] – India
    9.Micky Jagtiani[12] – India
    10.Shahid Balwa[13] – India
    11.Subhash Chandra[14] – India
    12.Vinod Goenka[15] – India
    13.PNC Menon[16][17] – India
    14.Roman Abramovich[18] – Russia
    15.Sheldon Adelson[19] – US
    16.Amancio Ortega[20] – Spain
    17.Kirk Kerkorian[21][note 1] – US
    18.Donald Newhouse[22] – US
    19.François Pinault[23] – France
    20.Jack Taylor[24] – US
    21.Joaquín Guzmán Loera[25] (Mexican drug lord) – Mexico
    22.David Geffen[26] – US
    23.David Murdock[27][note 2] – US
    24.Ted Turner[28] – US
    25.Henry Fok[29] (d. 2006) – Hong Kong
    26.Ralph Lauren[30] – US
    27.Mohammed Al Amoudi[31] – Saudi Arabia
    28.Stanley Ho[32] – Hong Kong
    29.Gabe Newell[33] - US
    30.Dustin Moskovitz[34] – US
    31.Richard Li[35] – Hong Kong
    32.Sheldon Solow[36] - US
    33.Stef Wertheimer[37][38] - Israel
    34.Ted Waitt[39] - US

    List of college dropout billionaires - Wikipedia, the free encyclopedia
    Harvard is first in a 'rich list' that revealed the colleges where students are most likely to become multi-millionaires.
    The Boston college comes top after producing 2,964 alumni worth $200million or more, and University of Pennsylvania is in second place with 1,502 super-wealthy graduates.


    Read more: Harvard's billionaires: Ivy League college leads the world with richest alumni | Mail Online
    Follow us: @MailOnline on Twitter | DailyMail on Facebook

    Not sure 34 is all that large.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  10. #220
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    Re: Florida Blue cutting 300K policies

    Quote Originally Posted by vasuderatorrent View Post
    I would love to see the number of those with college degrees that graduated after 2008 that have had success at anything other than earning minimum wage. Can you show me those?

    vasuderatorrent
    Did you know that 84% of the Forbes 400 have a college degree or higher? Although billionaires like Steve Jobs (obviously no longer on the list) and Bill Gates are often noted for having dropped out of school early, the overwhelming majority of the filthy rich have a very high level of education. Just 15% dropped out of college or stopped after high school.

    Read more at WANT TO BE A BILLIONAIRE? STAY IN SCHOOL… | PRAGMATIC CAPITALISM

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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