“Newspaper and journal headlines nationwide have reported on the record profits of a number of large health insurance companies in the past few years. The CEO of United Health Care (reportedly America's largest health insurance company) personally earned more than $90 million in 2003 and more than $120 million in 2004 in salary and incentives. Other company executives also received multimillion dollar packages. I haven't seen the 2005 or 2006 figures for United Health Care executives, but I suspect that there will be similar findings.”




So, United Health's CEO Dr. William McGuire gets 1.6 BILLION dollars worth in options. Now, besides the normal issues we can focus in on, such as corporate fiscal responsibility, or justification for what one man can do in any single day to justify the equivalent of a multi-million dollar daily "salary", how about discussing the question of skyrocketing insurance premiums. [from a performance perspective, the CEO cannot claim how well the company's stock has done this past year since UNH has been down as much as 28% off it's high since December - which doesn't mean the company hasn't been making boatloads of money (it's sitting on over $8 billion in cash)]

Health Insurance Profits Booming with $1.6 BILLION Paydays! - vlogolution :: www.HotRoast.com :: www.moMoneyTV.com :: Gotta Watch

So... the government is spending the second-most per person on health coverage of any country in the world, and we still have "people falling through the cracks" who don't have medical insurance coverage.

But we are supposed to believe that if we have government-controlled "universal health care" that will improve.

Can someone explain how that will work? Will the government spend MORE money and become the BIGGEST spenders on medical care in the world (per capita)? Will it regulate prices so that doctors exit the marketplace, thus decreasing availability of services? How will the government improve healthcare coverage in a way that maintains or improves the current quality of care?

I have huge problems with medical insurance companies too. Personally, I'd like to see us switch to a system of Health Savings Accounts... everyone puts a pre-tax percentage of their salaries into HSA's to cover medical care. The money can be invested as desired, and interest and dividends are tax free. This money can only be used for medical care. It can also be passed to wife or children or other family members upon the death of the acount-holder. If the money is rolled over into another medical account, it remains tax-free. If it is drawn out of a medical account for any purpose other than to pay medical costs, it gets taxed at standard rates.

This accomplishes a number of things.

1) Increased investment, which boosts the economy.
2) Medical coverage for anyone who saves for it.
3) Elimination of insurance companies (this is the biggest plus).
4) Choice of medical treatment is put back in the hands of the patients rather than the insurance companies.
5) Families can inherit monies saved by the individual for medical purposes, either on a tax-free or taxed basis, depending on how the money is used. Why should that money disappear into the black hole called "medical insurance"?
6) Did I mention the elimination of insurance companies? It's worth mentioning twice.
7) Without insurance companies playing their games, medical costs can return to market norms. Doctors get more, patients pay less, and everyone is happy, except the insurance companies... and who really gives a flying leap what they think?

For those who need additional help, there is still Medicare, Medicaid and other government programs.

It's a win-win situation. Everyone is covered. Prices are lower. Doctors are happy. Patients are happy. And both the insurance companies and the government are out of the picture.

Elliot

Quote:

---

Originally Posted by ETWolverine

It's a win-win situation. Everyone is covered. Prices are lower. Doctors are happy. Patients are happy. And both the insurance companies and the government are out of the picture.

---

Hello El:

I'm IN.

excon

Quote:

---

Originally Posted by ETWolverine

ETWolverine agrees: Holy $&*@!!! Somebody check whether hell has frozen over. You are aware of the fact that this is a CONSERVATIVE idea, aren't you? It is PRIVATIZATION of health care coverage! You sure you're still in?

---

Hello El:

Dude! I don't have a political dog in the fight. My knee doesn't jerk because something is a liberal or conservative cause. I hate the government, and I hate the insurance companies. If your solution will have the result you say it will, I'm IN.

Besides, I thought of it too….

Quote:

---

Originally Posted by excon

Therefore, we need to EITHER cover EVERYBODY, or cover nobody.

---

I’m cool with the nobody option.

excon

Its third party payors [ whether gov or insurance co ] that inflate health care costs.

When money does not visibly come out of your pocket - or you think that a third party will pay for it that artificially creates more demand.

of course whenever there is a third party there are more costs added to the equation - administrative, salaries marketing etc.

But will the average citizen be willing to go back to a direct payment system?

I think HSAs are a step in that direction.

Will doctors and hospitals compete with each other based on price , quality, value?

Will consumers accept that technology costs real money, and that every time you have a headache don't expect to get a cat scan unless you are wiling to pay for it yourself.

People are willing to pay for luxury homes, cars, plastic surgery, video games, huge tvs, vacations, etc... why are not people willing to pay for their own healthcare?

As to government ? Being the solution?

The Doctor's Office - WSJ.com

Petoskey News-Review - News - Cuts in Medicare reimbursement to doctors may limit access to health care for seniors

Asked if he foresees the current crisis ending in a kind of socialized medicine, Everett said: “This IS socialized medicine. The top groups are Medicare and Medicaid, and they are completely governed by the government

Stabenow said that when Congress cuts payments to provide health care, businesses see their health insurance rates go up.

“The private sector ends up paying for all of this, and it does not save money to cut physicians’ payments or other Medicare or Medicaid payments,” she said



Yes the government at work.

They did such a good job with Katrina and some who can't trust the gov because of Iraq are now looking to gov to solve the healthcare issue?