Thursday, July 13, 2017

Single Payer "Medicare for all."

It costs almost 25¢ to “administer the other 75¢ (or 33%) with corporate insurance.

It cost 1% to administer Social Security in 2008!

Now I am all for the $10 Million bonus structure that allows Insurance CEOs to make mighty profits from the suffering of others! (NOT!)

And I am all for co-pays at the drug store helping the poor.

We all have to chip in to support the very rich.

Private Health Insurance Revenues for just one company: Just one company’s total revenue were $61,579.2 million ($61.5 Billion) in 2008.

Additional Revenue From the “Float”: About 1 percent (or $616 million) of that total revenue came from interest earned on the “float.” An insurer’s “float” is money from premium payments that came in earlier than the billing date.

In times when interest rates are high, an insurer’s float can be another source of revenue. This is why sometimes health insurers deliberately drag out claim processing, strictly to increase the size of the float.

Marketing and Administrative Expenses (M&A): The firm’s total advertising for 2008 were $1,778.4 million ($1.8 Billion). Administrative expenses were $7,242.1 million ($7 Billion) or 11%. Both of these expenses are subtracted from total revenue FIRST. In this case, these expenses were 14.7 percent of total revenue in 2008.

The Health Benefit Ratio: Payments for health claims in 2008 were $47,742.4 million ($47.7 Billion) and the “cost of drugs” ($468.5 million). As a fraction of remaining “revenue” – (subtracting M&A or $57,101.0 million) in 2008, total health benefits amounted to 84.4 percent. Of the $61.5 Billion from all revinue, claims amounted to only 78.3%.

The Profit Margin: Net profits after all expenses, claims, and taxes in 2008, was 4.07 percent. Half of that was returned to investors as a dividend. “Profits” subjected to taxation in 2008 amounted to just 5.14 percent.

As a percentage of the equity shareholders had, profits were 11.62 percent in 2008.

Relative to brick-and-morter industries, these are particularly high numbers.

It costs almost 25¢ to “administer the other 75¢ (or 33%).

In a single-payer system, 25% MORE PEOPLE could be covered for the same overall cost!

It cost 1% to administer Social Security in 2008!

Of course Single Payer is evil – it prevents rich folks (stock holders, banks, and executives) from profiting on the pain and suffering of others!

That might also reduce the revenue at Trump Golf!

The Senate GOP’s ship approaches the iceberg, like the Titanic. Republicans slowed the engines by postponing a vote until after the July 4 recess, but they are still set to collide with the consequences of breaking a core promise to the right wingnut voters who sent them to Washington. If the GOP does not from Obamacare, we may be headed for single-payer.

The GOP is saying: "Thank god for Charlie Gard!"

What can I say?

These GOP folks are assholes!

Single payer insures EVERYONE.

Even the profoundly retarded.

Perhaps an austerity program would help.

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