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No. of Recommendations: 7
Why should health care be a for profit business. I used to belong to a labor union that had a ERISA Health & Welfare program. Our "health premium " was based on the previous years payouts plus a 3% administrative cost.
Seems fair to me. And this was negotiated through a large nationally known insurance company. I have not had as good of coverage since.Virtually all costs paid, except doctors fees.
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No. of Recommendations: 0
Why shouldn't health care be for profit? You want doctors and other medical professionals to work for free? You want them to work for cost? You want the government to force people to work for nothing? I'm pretty sure we passed a Constitutional Amendment forbidding Slavery about 150 years ago.
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Why should health care be a for profit business. I used to belong to a labor union that had a ERISA Health & Welfare program. Our "health premium " was based on the previous years payouts plus a 3% administrative cost.
Seems fair to me. And this was negotiated through a large nationally known insurance company. I have not had as good of coverage since.Virtually all costs paid, except doctors fees.


What about any of that leads you to believe the union or the insurance company was not generating a profit?
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It shouldn't. We spend far more per capita on healthcare than any other country, yet trail dozens of countries in life expectancy. http://www.theatlantic.com/business/archive/2012/03/10-ways-...

This is exactly the way our owners want it. The rich have the best healthcare in the world, while their insurance buddies skim profits for themselves.
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No. of Recommendations: 2
cjb44: "Why shouldn't health care be for profit? You want doctors and other medical professionals to work for free? ... You want the government to force people to work for nothing? I'm pretty sure we passed a Constitutional Amendment forbidding Slavery about 150 years ago."

I don't, and that's not even the issue. Do you even understand what "for profit" and, conversely, "not-for-profit" means?

"You want them to work for cost?"

Sure. If it actually costs $80,000 for lumbar spine fusion surgery to fully compensate the surgeon, the anesthesiologist, the nurses, the janitor, the medical device makers, and pay for the lights, the heat, the IVs, the drugs, etc., etc., etc. and for their skill and time and risk and all that, absolutely.

I just don't want the hospital to charge me $110,000 for that surgery that only costs them $80,000 and use the excess $30,000 to pay a $20,000 bonus to the CEO for his ability to gouge me and $10,000 to the surgeon to convince me to have surgery I really don't need at a time when I am the most vulnerable and in need of help.

Or did I just miss that part about "Making huge stacks of cash on the backs of sick people" in the Hippocratic Oath?

MotleyFooley
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'What about any of that leads you to believe the union or the insurance company was not generating a profit?"

That was part of my point, the insurance company was able to carry our account with only a 3% fee.
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That was part of my point, the insurance company was able to carry our account with only a 3% fee.

Do you not understand that profit and administrative fees are not the same amount?

A business can generate profits in excess, or in addition to their administrative fees.

If your direct costs are $100 and your admin fees are 3%, then your total costs are $103. Profit is generally added on top of that.

Here is an easy calculation for you on it.

http://mathcentral.uregina.ca/QQ/database/QQ.09.10/h/brian2....

Don't assume the insurance company only booked 3% in profit simply because their admin fee was only 3%.
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Whatever. I am not trying to analyze where the profits were generated. I know the insurance company was making money. My point is that I had the best health care package and it was reasonable. I pay much more for less now.
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