Ibeatyouraces
Ibeatyouraces
Joined: Jan 12, 2010
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March 8th, 2017 at 1:40:08 PM permalink
When is the human race going to figure out that insurance of any type is a scam? You are going to lose this bet and spend way more money on it than you'll ever get out of it.
FleaStiff
FleaStiff
Joined: Oct 19, 2009
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March 8th, 2017 at 1:47:32 PM permalink
Quote: beachbumbabs

Part of what you benefit from in a pool is negotiated rates that are well below no - insurance charges. I daresay that's the major advantage for most people.

Its similar to government entities giving incentives to employers and over burdening the Single Family Homeowners. Employers can threaten to pack up and leave town, homeowners are a captive market without organized clout.

There is no cost saving in the price at which the pharmacy pays for the drug or any cost saving in dispensing it. There simply is an agreement to "soak the uninsured" to make up for all the concessions won by pool members.
GWAE
GWAE 
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March 8th, 2017 at 2:24:55 PM permalink
Quote: odiousgambit

I didn't know this. One of the reasons my g.d. health insurance payment is so high is it covers gambling disorder treatments. WTF?

http://www.sltrib.com/home/5028000-155/casino-industry-dont-dump-gambling-disorders



I feel the same way about drug addiction and smoking addiction. But while we are at it how about not insuring fat people since we are more likely to have a heart attack.
GWAE
GWAE 
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March 8th, 2017 at 2:26:30 PM permalink
Quote: odiousgambit

you are also automatically enrolled for mental health coverage in O-care, so, more of an expansion of that idea I think

why wouldn't it be covered? I think you should be able to elect what you want covered. For example, I do not want or need to be covered for getting pregnant, but I am with O-care. And I may need the Gambling Problem coverage, ha ha ha, but I would like to elect not having it, thank you very much.



I agree but if we can choose exactly what we want then I think premiums would be even higher.
odiousgambit
odiousgambit
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Thanks for this post from:
steeldco
March 8th, 2017 at 3:25:50 PM permalink
Quote: Ibeatyouraces

When is the human race going to figure out that insurance of any type is a scam? You are going to lose this bet and spend way more money on it than you'll ever get out of it.



except that some will make out like a bandit, except that making out like one in this case means bad health

I feel an examination of what insurance is all about leans toward catastrophic coverage, otherwise you get screwed due to the profit motive - and profit is not a dirty word if that is the system we want

but I find others disagree totally, my wife included
Baccarat is a game whereby the croupier gathers in money with a flexible sculling oar, then rakes it home. If I could have borrowed his oar I would have stayed. ~Mark Twain
beachbumbabs
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beachbumbabs
Joined: May 21, 2013
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TropicalElectri
March 8th, 2017 at 6:41:47 PM permalink
I don't think shareholders should be a factor at health care point of sale. For - profit adds way too much overhead to essential healthcare. True also for insurers, slightly less so for pharmaceuticals. I don't think pharma does the R&D without investors. But insurers are just selling air and overhead, and servicing their stockholders. They're the best argument out there for single-payer systems.
"If the house lost every hand, they wouldn't deal the game."
gordonm888
gordonm888
Joined: Feb 18, 2015
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March 8th, 2017 at 7:17:42 PM permalink
Most insurance (auto, home, life) returns no more than 41% of the premiums to people that have claims. (I have no idea what the return is for health insurance, though.)

If life/home/auto insurance were a Vegas slot machine, it would be shot-down for insufficiently low rate of return.
rsactuary
rsactuary
Joined: Sep 6, 2014
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March 8th, 2017 at 7:30:39 PM permalink
Quote: gordonm888

Most insurance (auto, home, life) returns no more than 41% of the premiums to people that have claims. (I have no idea what the return is for health insurance, though.)

If life/home/auto insurance were a Vegas slot machine, it would be shot-down for insufficiently low rate of return.



By law, health insurance products must return 80% of premiums in claim payments for Individual and Small Group products (employers <50), Large group products and Medicare products must return 85% of premiums in claim payments.
Ibeatyouraces
Ibeatyouraces
Joined: Jan 12, 2010
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March 8th, 2017 at 7:35:34 PM permalink
Quote: rsactuary

By law, health insurance products must return 80% of premiums in claim payments for Individual and Small Group products (employers <50), Large group products and Medicare products must return 85% of premiums in claim payments.


So as I said. It's a scam perpetrated by the insurance companies and the government. I'll exclude the middle man and stick to paying cash for medical bills.

And before anyone asks, if I can't afford it, I don't get it and suffer through it.
Hullabaloo
Hullabaloo
Joined: Nov 30, 2014
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March 8th, 2017 at 7:50:37 PM permalink
Quote: beachbumbabs

That seemed incredibly high until I priced it without insurance (didn't think my company had approved my prescription ), just walking up and filling it. The cheapest quote was 280 for 30 days, and most over 300; no generic equivalent due to patent protection. That difference alone is about what I'm paying for my monthly premium. So whaddya know; thanks, insurance!



for people that don't have insurance, (and even for those that do), you might want to check:

https://www.goodrx.com/

I've gotten things for about $25 that had a $300+ retail price.

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