This is just MY take on this…You can agree with it or disagree, that’s fine.
What is a HEALTH INSURANCE COMPANY???
Think about this for a minute…
They make…NOTHING. They aren’t actually TREATING anyone. They’re not INVENTING new medications, they’re not staffing hospitals.
So what DO they do???
*They collect MONEY from business and indivduals. (Gee… doesn’t the U.S. Goverment do that too?)
*They set pricing for Doctors, Hospitals, procedures, medications.
*They determine WHO can get what care, at what price, and what medications those people can get. (Sort of like RULES or LAWS)
*Now…Instead of that Money being sent to “DOLLAR BILL McGUIRE” so he could pay himself $125 MILLION in a single year. Or Don Baptista of Blue Cross Rhode Island paying himself $1.8 Million a year and getting a FREE $600,000 “loan” to build himself a new home… Maybe that money could be POOLED “just like it is for OUR MILITARY” and with the PROFIT MOTIVE removed and MILLIONS more paying into that pool a better system could emerge?
In my State… Cities and Towns are banding together to GROUP their employees into larger POOLS. These largers pools (sometimes as small as 1000 employess) LOWER insurance rates dramaticallly.
Case in point…Three nearby Cities simply combined their teachers, Firefighters and Police into a single pool and the savings were over 50% for Blue Cross. We’re talking about MAYBE 5,000 employees here. And at a 50% DISCOUNT Bluecross is STILL making MONEY!! My question is…ALL those Cities had been sending CHECKS to Blue Cross SEPARATELY for YEARS…Those checks ALL arrived at the SAME BUILDING (Blue Cross Head quarters) They all went into the same account. So WHY all of a sudden the 50% price reduction???
It happened because the Local GOVERMENTS put the pressure on BLUE CROSS. Blue Cross didn’t cut those rates IN HALF out of the goodness of their hearts…They were FORCED to do it. So…for YEARS…Tax payers…Over paid Blue Cross by 50% for a benefit that could have been provided at HALF the PRICE…THAT’S how you give $600,000 FREE loans to your CEO while paying him $1.8 million/year!!..I don’t know about others…But if THAT’S EFFICIENT…There IS NO “efficient” in the current world of Health Insurance.
Those Cities simply POOLED the MONEY being COLLECTED and SENT to a Private Business (Bluecross) If health insurance is simply about COLLECTING REVENUE, PROCESSING PAPER WORK and SETTING RATES…
We have a GOVERMENT that is doing ALL of this RIGHT NOW and has been for decades. Why are we letting people like "DOLLAR BILL McGuire make $125 MILLION Dollars a YEAR off something like this???
People worry about big bureaucratic Goverment. That’s EXACTLY what an INSURANCE COMPANY IS!! It’s actually set up that way to discourage people from pursuing claims. A classic example of this is the famous insurance company slogan of “The FIRST TRY is always… DENY.”
The Goverment ALREADY collects money from indivuals and business.
They ALREADY set prices for a slew of things we NEED. Utilities come to mind. State College tuitions are another.
They NEGOTIATE CONSTANTLY with suppiers, unions, ect.
The frame work is ALREADY THERE.
Health Insurance Companies have become some of THE MOST Profitable businesses on the planet. GREED has overtaken that industry with $125 MILLION a year pay checks. All that money received by an Industry that MAKES NOTHING…They simply collect YOUR MONEY, and cuts checks.
My question is…
Why ISN’T our GOVERMENT DOING THIS ALREADY???
Maybe the answer to this is some type of HYBRID system. Maybe a BASIC health plan for ALL Americans. Something that would prevent hard working people from going BANKRUPT because they get sick or hurt. Think about this…Those bankruptcies hurt THOUSANDS of businesses a year when what THEY ARE OWED is cut in half by a bankruptcy judge. Maybe a HYBRID system could help prevent that. With this system people who wanted a HIGHER LEVEL of coverage could pay for it out of their pockets but get that coverage at rates based on MILLIONS of pooled participants.
Just my opinion.