I don’t know why Nate and others keep emphasizing the low profit margins of the insurance companies.
Accounting tricks aside (e.g., counting increased perks as “costs”, etc.), the lavish compensations and bureacratic bloat are devices a “marquis class’ of individuals, who bring NOTHING of value to the system, use to extort “protection” money from vulnerable citizens. By the way, the bottom line is profit VOLUME, which is substantial.
http://www.fivethirtyeight.com/2009/12/insurance-stocks-rise-on-news-of-health.html
One function of government is to protect its citizens against persons or institutions that can do harm, such as predators in the “healthcare provider” business. Is it that hard for the apologists of the Democratic “healthcare” bill to understand how distressing this is to progressives, or any good government types?
Profit has NO PLACE in a system of basic health care. Let the marketplace work its wonders in cosmetic surgery. The fact that profit margins are now inextricably imbedded in this push for universal healthcare is going to explode this effort down the way, and not very far off.
We know how this is going to work. We’ll be forced to give them our money (and since I’m 50, I may be forced to pay 1/4 of my income to these criminals) right up front – with the government being the collection muscle. And there is nothing NOTHING to force these guys to behave. The sharks will walk off with their compensations, and we’ll be forced back to square zero, with a more impoverished society, and the problems not solved.
The people running these “healthcare” protection rackets have no care for the public, the system, or even their own companies. We’ve already seen CEOs walk off with over $1B in compensation… they don’t have to look back.
They shouldn’t exist. All of these guys in the privateering “healthcare” racket losing their jobs would be a small blip in the unemployment rate. I’d rather some of them use their actuarial skills toward optimizing high-speed rail systems or smart power grids.
Don’t. Not this, not to these thugs. No.
