The reason people think "The Obama" wants single payer is because HE said he did.
Should we not beleive what "The Obama" says??
I worked in the P & C insurance industry for a long time at some fairly high levels. Therefore, I know some of the "tricks of the trade" when it comes to Loss Ratios. Like you indicated, Loss Ratios take into account the loss paid vs the premiums received. However, in the losses paid area it includes all claim expenses including claim employee salaries, legal fees, expert fees, and some reserves set aside. Very easy to hide money in thses areas to drive up your Loss Ratio and then ask the state for higher rates. The sad thing is that the state hardly ever audits the companies books to catch this type of abuse. Even if they did, the state auditors would not be smart enough to catch it.
I think the best way to guage it is to make it a pure claims paid vs premiums received. This way if a company wants to overpay their staff or legal fees, it only hurts them. Of course you could get into premiums received vs earned premiums, but that's another discussion.
Just my 2 cents.
The bill is setup with the above mentioned where employers will opt out and everyone will end up on the public option. Except congress of course. That is how we get to single payer.
The catastrophic coverage would allow people to purchase stop gap insurance. Preventative behavior will increase when there is additional charges for health care rather no extra charge really in the present system. How often would people check their oil if there was an 80/20plan covering repair bills on their autos. People need "skin" in the game.
You get much more info on insurance policies than you do from your health providers, who do not show results stats much less pricing where comparisons can be made like they can in insurance. (A fool and his money are soon parted.) The info is there consumer advocate groups to discussion forums. Doctors are not allowed to advertise price and operate under a veil created by the current ins. structure, the AMA, and custom.
Just noticed this Jeff. The small employer pays less than 8% penalty down to 0. They have more incentive to move their employees to the public option.
"f the annual payroll of such employer for the preceding calendar year: The applicable percentage is:
Does not exceed $250,000 0 percent
Exceeds $250,000, but does not exceed $300,000 2 percent
Exceeds $300,000, but does not exceed $350,000 4 percent
Exceeds $350,000, but does not exceed $400,000 6 percent "
Last edited by tpaschal30; 08-13-2009 at 10:07 PM.
And I don't believe there were any provisions in Lyndon Johnson's Great Society Legislation that said, "...we will create generations of Americans who are cradle-to-grave wards of the working tax payers, and oh yeah, while we're at it, let's wreck the black family unit" but again, here we are.
Sorry, but it doesn't take much imagination to see where this particular health care reform will eventually take us.
I'll take the river down to still water and ride a pack of dogs.
C'mon, Hew....the BHO machine is here to SAVE us....can't you see that? Surely they wouldn't say one thing then do another...or NOT say one thing and then do it later because it's not on paper now...where's your FAITH, man?!?!?!?!?!
Pay no attention to the man behind the curtain regards,
Just a reminder from my buddy George Santayana...."he who forgets the past is condemned to relive it...."
I keep my PM box full. Use email to contact me: email@example.com.