FACT CHECK: Health insurer profits not so fat

[Mr. Big Dog 10,747]

With an average margin of about 5%, do you think the health insurance companies could survive a 30% drop in revenues? I think not.

Of course they could. Watch it unfold.

I see, then you're siding with the hard core right wing extremists, since they're the only ones who are saying that health insurance revenues will actually fall under the proposed legislation.

Not really, I just worked with the question you posed rather than offering a judgment in regards to the validity of the assumption.

[JimVaPhuong 4,863]

With an average margin of about 5%, do you think the health insurance companies could survive a 30% drop in revenues? I think not.

Of course they could. Watch it unfold.

I see, then you're siding with the hard core right wing extremists, since they're the only ones who are saying that health insurance revenues will actually fall under the proposed legislation.

Not really, I just worked with the question you posed rather than offering a judgment in regards to the validity of the assumption.

Fair enough. In that case, "Watch it unfold" was an unfounded statement. Very few believe health insurance revenues are going to drop at all, much less by 30%. Conservatives believe that expenses paid by health care insurers will go up much more than revenues, which will eventually sink the health insurance companies - leaving us with only Uncle Sam to pay the doctor. I believe there are many educated liberals who believe the same thing. The difference is that the liberals who believe this don't think it's a bad thing for the government to intentionally torpedo the health insurance industry if the end result is universal health care.

[almaty 19]

onservatives believe that expenses paid by health care insurers will go up much more than revenues, which will eventually sink the health insurance companies - leaving us with only Uncle Sam to pay the doctor. I believe there are many educated liberals who believe the same thing. The difference is that the liberals who believe this don't think it's a bad thing for the government to intentionally torpedo the health insurance industry if the end result is universal health care.

bullshit...you are an expert on liberal thought

[JimVaPhuong 4,863]

bullshit...you are an expert on liberal thought

Yep. I live a stone's throw from Berkeley. I hear it everyday.

[Niels Bohr 72]

I just looked up the net profit margins for a few insurers on Google finance.

Atna 4.0%

United Health Group 4.77%

But, that is not enough a reason why the public option should be offered. The reason is the cost.

Edited October 26, 2009 by Niels Bohr

[Dan J 277]

I just looked up the net profit margins for a few insurers on Google finance.

Atna 4.0%

United Health Group 4.77%

But, that is not enough a reason why the public option should be offered. The reason is the cost.

Atena CEO paid 24 million last year. Overall Atena spent about $45 million for executive compensation.

In a private heath insurance model, a lot of the money we spend on the system, goes out not to provide care, but to pay shareholders and executives. There are countries which use the private insurance model like Switzerland, but basic plans are heavily regulated.

[mawilson 2,133]

Umm, how about their outlays are higher and higher...How about Tort reform? How about the increased costs of drugs and procedures?

Is Tort Reform expensive?

No, but it's delicious and filled with cream, fruit, nuts, and jam.

[Peikko 1,575]

Ah, Mr Wilson, the inarticulate Brit on VJ OT BY is on a roll today.

[mawilson 2,133]

Ah, Mr Wilson, the inarticulate Brit on VJ OT BY is on a roll today.

Hey, don't call me inarticulate just because I don't want torte reform!

[Peikko 1,575]

Ah, Mr Wilson, the inarticulate Brit on VJ OT BY is on a roll today.

Hey, don't call me inarticulate just because I don't want torte reform!

Hey, don't shoot the messenger

You can keep your cheap tarts by the way...

[Joseph & Ana 0]

With the return of the "public option", the fate of the evil health insurance companies is sealed. There is no way a private corporation can compete with the US government, when the government can operate at a loss indefinitely without going "out of business".

Wrong again. We have a public option property insurance here in Florida that directly competes with private insurers. This evil, socialist public insurance option was established by our conservative government (both the legislature and executive are in GOP hands) a couple of years ago. Not only does private homeowners insurance continue to exist in the state but it has also dropped the premiums in order to remain competitive. My private insurance premiums ave dropped roughly 30% over the last two years. Coincidence? I think not.

Crist isn't a conservative. Try again

[Mr. Big Dog 10,747]

With the return of the "public option", the fate of the evil health insurance companies is sealed. There is no way a private corporation can compete with the US government, when the government can operate at a loss indefinitely without going "out of business".

Wrong again. We have a public option property insurance here in Florida that directly competes with private insurers. This evil, socialist public insurance option was established by our conservative government (both the legislature and executive are in GOP hands) a couple of years ago. Not only does private homeowners insurance continue to exist in the state but it has also dropped the premiums in order to remain competitive. My private insurance premiums ave dropped roughly 30% over the last two years. Coincidence? I think not.

Crist isn't a conservative. Try again.

Whether he's a conservative or not, the Speaker of the House at the time this evil, socialist public option was passed was Marc Rubio - Crist's conservative opponent in the GOP primary for the US Senate seat that Sen. Mel Martinez has vacated. Marc Rubio is the darling of the conservative wing of the Florida GOP and he presided over the introduction of this evil, socialist public insurance option scam in the House.

And even if none of them is "conservative" in your view - i.e. if neither is a right wing radical - the fact remains that the public insurance option has brought coverage to those who could not get it in the private insurance market and it has brought down premium rates in the state overall.

[Joseph & Ana 0]

With the return of the "public option", the fate of the evil health insurance companies is sealed. There is no way a private corporation can compete with the US government, when the government can operate at a loss indefinitely without going "out of business".

Wrong again. We have a public option property insurance here in Florida that directly competes with private insurers. This evil, socialist public insurance option was established by our conservative government (both the legislature and executive are in GOP hands) a couple of years ago. Not only does private homeowners insurance continue to exist in the state but it has also dropped the premiums in order to remain competitive. My private insurance premiums ave dropped roughly 30% over the last two years. Coincidence? I think not.

Crist isn't a conservative. Try again.

Whether he's a conservative or not, the Speaker of the House at the time this evil, socialist public option was passed was Marc Rubio - Crist's conservative opponent in the GOP primary for the US Senate seat that Sen. Mel Martinez has vacated. Marc Rubio is the darling of the conservative wing of the Florida GOP and he presided over the introduction of this evil, socialist public insurance option scam in the House.

And even if none of them is "conservative" in your view - i.e. if neither is a right wing radical - the fact remains that the public insurance option has brought coverage to those who could not get it in the private insurance market and it has brought down premium rates in the state overall.

Bottom line is that conservatives wouldn't be for it.

[mawilson 2,133]

Ah, Mr Wilson, the inarticulate Brit on VJ OT BY is on a roll today.

Hey, don't call me inarticulate just because I don't want torte reform!

Hey, don't shoot the messenger

You can keep your cheap tarts by the way...

Oh, that's ok, at least I actually have a brain

[Mr. Big Dog 10,747]

With the return of the "public option", the fate of the evil health insurance companies is sealed. There is no way a private corporation can compete with the US government, when the government can operate at a loss indefinitely without going "out of business".

Wrong again. We have a public option property insurance here in Florida that directly competes with private insurers. This evil, socialist public insurance option was established by our conservative government (both the legislature and executive are in GOP hands) a couple of years ago. Not only does private homeowners insurance continue to exist in the state but it has also dropped the premiums in order to remain competitive. My private insurance premiums ave dropped roughly 30% over the last two years. Coincidence? I think not.

Crist isn't a conservative. Try again.

Whether he's a conservative or not, the Speaker of the House at the time this evil, socialist public option was passed was Marc Rubio - Crist's conservative opponent in the GOP primary for the US Senate seat that Sen. Mel Martinez has vacated. Marc Rubio is the darling of the conservative wing of the Florida GOP and he presided over the introduction of this evil, socialist public insurance option scam in the House.

And even if none of them is "conservative" in your view - i.e. if neither is a right wing radical - the fact remains that the public insurance option has brought coverage to those who could not get it in the private insurance market and it has brought down premium rates in the state overall.

Bottom line is that conservatives wouldn't be for it.

Beacuse those you call conservatives - commonly, those folks are known as right wing radicals - aren't for anything that actually works. Which is why nobody likes them very much.