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Thread: 3M Co. will drop retirees from health plans, steer to Medicare

  1. #61
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    Re: 3M Co. will drop retirees from health plans, steer to Medicare

    Quote Originally Posted by tlmorg02 View Post
    And to this point Patriot, go and actually talk to any doctor and ask them who dictates how they practice medicine and they will tell you "The insurance companies." I know many physicians as personal friends and they all same the same.
    I didn't say anything about how they practice medicine, so this is an invalid comparison. I stated that the federal government mandated price controls on health care goods and services. However, on this point I will state that the government again dictates how doctor's practice their profession. Look at the state medical boards, the regulations put into place by the government at all levels, etc... Funny, but I don't see insurance companies having the same amount of power as the government.

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    Re: 3M Co. will drop retirees from health plans, steer to Medicare

    Quote Originally Posted by The_Patriot View Post
    I didn't say anything about how they practice medicine, so this is an invalid comparison. I stated that the federal government mandated price controls on health care goods and services. However, on this point I will state that the government again dictates how doctor's practice their profession. Look at the state medical boards, the regulations put into place by the government at all levels, etc... Funny, but I don't see insurance companies having the same amount of power as the government.
    Really? The one who pays possesses no control? Are you serious?

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    Re: 3M Co. will drop retirees from health plans, steer to Medicare

    Quote Originally Posted by The_Patriot View Post
    I see no data in this opinion piece to back up your statements that they made record profits. I want the numbers not an opinion piece.

    The 2009 financial reports from the nation’s five largest insurance companies reveal that:

    The firms made $12.2 billion, an increase of $4.4 billion, or 56 percent, from 2008.
    Four out of the five companies saw earnings increases, with CIGNA’s profits jumping 346 percent.
    The companies provided private insurance coverage to 2.7 million fewer people than the year before.
    Four out of the five companies insured fewer people through private coverage. UnitedHealth alone insured 1.7 million fewer people through employer-based or individual coverage.
    All but one of the five companies increased the number of people they covered through public insurance programs (Medicaid, CHIP and Medicare). UnitedHealth added 680,000 people in public plans.
    The proportion of premium dollars spent on health care expenses went down for three of the five firms, with higher proportions going to administrative expenses and profits.

    NOW! Blog » Report: Insurers enjoy record-breaking profits as they cut 2.7 million people from their rolls

    http://hcfan.3cdn.net/a9ce29d3038ef8a1e1_dhm6b9q0l.pdf

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    Re: 3M Co. will drop retirees from health plans, steer to Medicare

    Quote Originally Posted by Boo Radley View Post
    The 2009 financial reports from the nation’s five largest insurance companies reveal that:

    The firms made $12.2 billion, an increase of $4.4 billion, or 56 percent, from 2008.
    Four out of the five companies saw earnings increases, with CIGNA’s profits jumping 346 percent.
    The companies provided private insurance coverage to 2.7 million fewer people than the year before.
    Four out of the five companies insured fewer people through private coverage. UnitedHealth alone insured 1.7 million fewer people through employer-based or individual coverage.
    All but one of the five companies increased the number of people they covered through public insurance programs (Medicaid, CHIP and Medicare). UnitedHealth added 680,000 people in public plans.
    The proportion of premium dollars spent on health care expenses went down for three of the five firms, with higher proportions going to administrative expenses and profits.

    NOW! Blog » Report: Insurers enjoy record-breaking profits as they cut 2.7 million people from their rolls

    http://hcfan.3cdn.net/a9ce29d3038ef8a1e1_dhm6b9q0l.pdf
    Not good enough since this lumps all insurance companies together to make the argument that the individual insurance companies are making record profits. I want a list of the profits each company made.

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    Re: 3M Co. will drop retirees from health plans, steer to Medicare

    Quote Originally Posted by The_Patriot View Post
    I didn't say anything about how they practice medicine, so this is an invalid comparison. I stated that the federal government mandated price controls on health care goods and services. However, on this point I will state that the government again dictates how doctor's practice their profession. Look at the state medical boards, the regulations put into place by the government at all levels, etc... Funny, but I don't see insurance companies having the same amount of power as the government.
    Those who control the medical purse strings control the practice of medicine. That would be the government for Medicare, Medicaid and Veterans medicine -- and insurance companies for everyone else. Regulations have little to do with how medicine is practiced in the doctor's office. It's all about, as usual, the money.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    Re: 3M Co. will drop retirees from health plans, steer to Medicare

    Quote Originally Posted by Boo Radley View Post
    The 2009 financial reports from the nation’s five largest insurance companies reveal that:

    The firms made $12.2 billion, an increase of $4.4 billion, or 56 percent, from 2008.
    Four out of the five companies saw earnings increases, with CIGNA’s profits jumping 346 percent.
    The companies provided private insurance coverage to 2.7 million fewer people than the year before.
    Four out of the five companies insured fewer people through private coverage. UnitedHealth alone insured 1.7 million fewer people through employer-based or individual coverage.
    All but one of the five companies increased the number of people they covered through public insurance programs (Medicaid, CHIP and Medicare). UnitedHealth added 680,000 people in public plans.
    The proportion of premium dollars spent on health care expenses went down for three of the five firms, with higher proportions going to administrative expenses and profits.

    NOW! Blog » Report: Insurers enjoy record-breaking profits as they cut 2.7 million people from their rolls

    http://hcfan.3cdn.net/a9ce29d3038ef8a1e1_dhm6b9q0l.pdf
    What you call profits can also be called RESERVES.

    Insurance companies have to have actual money to pay actual claims. They have to be prepared for a rainy day, which is what the concept of insurance is in the first place.

    I realize, in the liberal stimulus world, you don't actually have to HAVE money to spend trillions of it. But in the insurance world, you can't pay claims with money you don't have.

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    Re: 3M Co. will drop retirees from health plans, steer to Medicare

    Quote Originally Posted by Erod View Post
    What you call profits can also be called RESERVES.

    Insurance companies have to have actual money to pay actual claims. They have to be prepared for a rainy day, which is what the concept of insurance is in the first place.

    I realize, in the liberal stimulus world, you don't actually have to HAVE money to spend trillions of it. But in the insurance world, you can't pay claims with money you don't have.
    No, not reserves, investor dividends. But nice try.

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    Re: 3M Co. will drop retirees from health plans, steer to Medicare

    Quote Originally Posted by MaggieD View Post
    Those who control the medical purse strings control the practice of medicine. That would be the government for Medicare, Medicaid and Veterans medicine -- and insurance companies for everyone else. Regulations have little to do with how medicine is practiced in the doctor's office. It's all about, as usual, the money.
    So regulations on the approval of new drugs, medical procedures, and equipment plays no part in the price of health care? What about the regulations regarding patient privacy etc? What about the regulations on doctors maintaining training standards and carrying malpractice insurance? Still say that they play no role and have no control over prices?
    Last edited by The_Patriot; 10-07-10 at 01:18 PM.

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    Re: 3M Co. will drop retirees from health plans, steer to Medicare

    Quote Originally Posted by The_Patriot View Post
    So regulations on the approval of new drugs, medical procedures, and equipment plays no part in the price of health care? What about the regulations regarding patient privacy etc? What about the regulations on doctors maintaining training standards and carrying malpractice insurance? Still say that they play no role and have no control over prices?
    Point taken. My post was addressing the way a doctor practices medicine; not its cost.
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  10. #70
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    Re: 3M Co. will drop retirees from health plans, steer to Medicare

    Quote Originally Posted by MaggieD View Post
    Point taken. My post was addressing the way a doctor practices medicine; not its cost.
    The regulations imposed by the government far outweigh the ones imposed by the insurance companies. The points I made were about how medicine is actually practiced that is imposed by the government in the form of regulations.

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