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Thread: FACT CHECK: Health insurer profits not so fat

  1. #131
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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by formerroadie View Post
    My question is, why does it matter? For profit health care is unethical anyway.
    Someone getting paid for their labor is unethical? How so?
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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by formerroadie View Post
    My question is, why does it matter? For profit health care is unethical anyway. Also, why is it that you trust YahooNews over other news organization that contradict YahooNews..... Oh, I know, cuz they agree with you. Whatever. One news source against all the others who are following reports of their own and you only believe the one that agrees with you. Show's how dishonest your point of view is.

    And there is the crux of the liberal argument in not just health care, but in oil, in Wal Mart, in anything that they don't own, work at, or benefit from. And that is that ANY profit made by businesses they don't like is too much.

    Nevermind that the profit motive is what spurs ingenuity, and invention.


    j-mac
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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by apdst View Post
    On a billion, obviously. The part that you obviously don't understand, is that either way, you still only have a 6% profit to operate off of for the following year. Which means, that you spent 940 million bucks this past year, and for next year, you only have 60 million bucks to cover the years expenses, in case there are any shortfalls. And, that means, that if you go through that 60 million in the first 4-6 months, well, you're ****ed for the rest of the year. Yeah, they call that operating capital. Surely, the math just jumps out at you. Now, that is common sense...
    You should fire your CPA. Profit is the amount of money left over AFTER operating expenses have been subtracted from your assets. There are no profits if your assets do not exceed liabilities. You can't have $940 million of expenses next year with just $60 million to cover them because a business is legally insolvent if it does not have assets to cover the liabilities as they become due. So your financial example makes no sense because those companies would be closed down if they submitted such a defective balance sheet to the public. The logic "should have just jumped out at you"?

    Furthermore, insurance companies rely on premiums that policy-holders pay every year to finance the company. They do not rely on their profits to pay next year's bills. So, I would not worry too much about the health insurance industry if I were you.

    The question I ask all conservatives is: are you more likely to benefit from (a) health care reform; or (b) the excessive profits of the health insurance industry??? And if your answer is (a) then why do you guys work so hard to defend something you have nothing to do with? Its like Joe the Plumber complaining about taxes on the wealthy while he barely has a pot-to-piss-in. It must be "Silly Season" again.
    Last edited by 10thJustice; 10-29-09 at 01:10 AM.
    "the question is whether the people of the United States are to govern through representatives chosen by their unbiased suffrages or whether the money and power of a great corporation are to be secretly exerted to influence their judgment and control their decisions." Andrew Jackson

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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by j-mac View Post
    And there is the crux of the liberal argument in not just health care, but in oil, in Wal Mart, in anything that they don't own, work at, or benefit from. And that is that ANY profit made by businesses they don't like is too much.

    Nevermind that the profit motive is what spurs ingenuity, and invention.


    j-mac
    That dog don't hunt no more. While it is true that capitalism spurs innovation; the health insurance industry doesn't create anything except new ways to deny coverage. No human; no socialist or capitalist; wants to die because of a business decision. Let the capitalist compete for the markets in consumer delights such as toys and shoes and hats. But when it comes to matters of life and death Americans do not want self-interested shareholders blocking the doors to the operating room.
    "the question is whether the people of the United States are to govern through representatives chosen by their unbiased suffrages or whether the money and power of a great corporation are to be secretly exerted to influence their judgment and control their decisions." Andrew Jackson

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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by Phoenix View Post
    Someone getting paid for their labor is unethical? How so?
    What labor does a health insurance person provide??? Do we really need this middle-man taking a portion of our health care dollar for non-medical purposes??? This outdated method of insurance will eventually be scrapped or lead us into bankruptcy. We are the only advanced nation that operates under these antiquated guidelines. Maybe everyone else is crazy and we alone see the truth; or maybe we are crazy and the rest of the world is correct.

    Ask yourself this question: why do people from around the world rush to America for medical treatment; but no country in the world is modeling their health care system after ours??? We have the best doctors but a flawed and very expensive health insurance system.
    "the question is whether the people of the United States are to govern through representatives chosen by their unbiased suffrages or whether the money and power of a great corporation are to be secretly exerted to influence their judgment and control their decisions." Andrew Jackson

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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by 10thJustice View Post
    What labor does a health insurance person provide??? Do we really need this middle-man taking a portion of our health care dollar for non-medical purposes??? This outdated method of insurance will eventually be scrapped or lead us into bankruptcy. We are the only advanced nation that operates under these antiquated guidelines. Maybe everyone else is crazy and we alone see the truth; or maybe we are crazy and the rest of the world is correct.

    Ask yourself this question: why do people from around the world rush to America for medical treatment; but no country in the world is modeling their health care system after ours??? We have the best doctors but a flawed and very expensive health insurance system.
    It's a job people get paid money to do that job, the they take that money and buy things with it. But, hey, your boy has a 10% unemployment rate hanging over his head, already, anyway. Hell, creating jobs and salvaging the economy was never the objective anyway, was it?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  7. #137
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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by 10thJustice View Post
    You should fire your CPA. Profit is the amount of money left over AFTER operating expenses have been subtracted from your assets. There are no profits if your assets do not exceed liabilities. You can't have $940 million of expenses next year with just $60 million to cover them because a business is legally insolvent if it does not have assets to cover the liabilities as they become due. So your financial example makes no sense because those companies would be closed down if they submitted such a defective balance sheet to the public. The logic "should have just jumped out at you"?
    So if an insurance company gets $20 million in claims on January 1, how do they pay those claims? With last years profits. Obviously the 60 million isn't going to cover a years expenses but they need money to operate on until the premium payments start coming in.
    Or what if they lose money next year? It pays to have a cash cushion just in case.

    Quote Originally Posted by 10thJustice View Post
    Furthermore, insurance companies rely on premiums that policy-holders pay every year to finance the company. They do not rely on their profits to pay next year's bills. So, I would not worry too much about the health insurance industry if I were you.
    and if the expenses outweigh the income at some point in time?

    Quote Originally Posted by 10thJustice View Post
    The question I ask all conservatives is: are you more likely to benefit from (a) health care reform; or (b) the excessive profits of the health insurance industry??? And if your answer is (a) then why do you guys work so hard to defend something you have nothing to do with? Its like Joe the Plumber complaining about taxes on the wealthy while he barely has a pot-to-piss-in. It must be "Silly Season" again.

    I benefit more from a profitable health insurance company.
    From the ashes.

  8. #138
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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by 10thJustice View Post
    What labor does a health insurance person provide??? Do we really need this middle-man taking a portion of our health care dollar for non-medical purposes???
    If you feel it's unjust, don't use an insurance company.
    The original statement was that "For Profit health care" is unethical. I have no problem with doctors, nurses, hospitals or even *gasp* insurance companies making a profit.

    Quote Originally Posted by 10thJustice View Post
    This outdated method of insurance will eventually be scrapped or lead us into bankruptcy. We are the only advanced nation that operates under these antiquated guidelines. Maybe everyone else is crazy and we alone see the truth; or maybe we are crazy and the rest of the world is correct.
    I view it as the rest of the world doesn't have a problem with government control of their lives, they are used to it. We [the United States] are *supposed* to be a free country built on individual liberty government controlled health care goes directly against that concept.

    Quote Originally Posted by 10thJustice View Post
    Ask yourself this question: why do people from around the world rush to America for medical treatment; but no country in the world is modeling their health care system after ours??? We have the best doctors but a flawed and very expensive health insurance system.
    No other country models their health care after ours because they don't need to. When their system fails they run here and get the care they need. Paying full price for it at that. We have the best doctors, the largest quantity of equipment and facilities, and the most advanced equipment specifically because some "greedy bastard" whats to make some money.
    From the ashes.

  9. #139
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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by apdst View Post
    It's a job people get paid money to do that job, the they take that money and buy things with it. But, hey, your boy has a 10% unemployment rate hanging over his head, already, anyway. Hell, creating jobs and salvaging the economy was never the objective anyway, was it?
    If your "job" consist of thinking up new ways to deny health coverage to the sick; then you need to find a new line of work. When insurance companies deny coverage to one of their policyholders; the rest of us must pay for the person when they visit the emergency room. That means we are allowing the private insurers to collect premiums and then bill the American taxpayer when their policyholder gets sick. Americans are sick and tired of bailing out corrupt corporations; so despite your honorable plea for their feeble jobs; the health insurance industry is going to undergo major surgery.
    "the question is whether the people of the United States are to govern through representatives chosen by their unbiased suffrages or whether the money and power of a great corporation are to be secretly exerted to influence their judgment and control their decisions." Andrew Jackson

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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by Phoenix View Post
    So if an insurance company gets $20 million in claims on January 1, how do they pay those claims? With last years profits. Obviously the 60 million isn't going to cover a years expenses but they need money to operate on until the premium payments start coming in.
    Or what if they lose money next year? It pays to have a cash cushion just in case.



    and if the expenses outweigh the income at some point in time?




    I benefit more from a profitable health insurance company.
    Most businesses time their expenses with their revenues. Its a procedure known as "matching". If a business receives its revenues during a certain time of the year its policies will require claims to be submitted after the revenues are received.

    If expenses outweigh revenues at some point then the business fails; and if you have to deny claims and charge excessive premiums to make a profit; then you no longer have a viable business model. In which case your business deserves to fail.

    You are one of the few people in America who will benefit from insurance profits more than you will benefit from insurance reform. The only thing I can tell you is that the will of the majority seems to be against you on this one. You may have to concede defeat on this issue.
    Last edited by 10thJustice; 10-30-09 at 01:41 AM.
    "the question is whether the people of the United States are to govern through representatives chosen by their unbiased suffrages or whether the money and power of a great corporation are to be secretly exerted to influence their judgment and control their decisions." Andrew Jackson

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