I heard a simple explination on Healthcare this morning.
Note: The only real government controlled health care is the VA. Its is government owned and operated.
But lets say for the sake of argument. Most hospitals and Doctors are not owned by any insurance companies.
The exception would be Kaiser and a few others.
So basically the huge insurance business is nothing more than a "Bank". They hold the money
that should be used to spread the risk. Thats what insurance is supposed to do. And make a resonable profit.
But for some reason in this country. And in this country only. We have allowed that "Bank" to essentially
extort whatever it wants from both the Doctors and Hospitals by making getting paid as hard as possible.
And to extort us patients. By raising the rates and to deny coverage anywhere they can. Making sure they make as much money as possible by playing the system to their benefit. What a scam.
Ins. Co. & CEO With 2007 Total CEO Compensation
Aetna Ronald A. Williams: $23,045,834
Cigna H. Edward Hanway: $25,839,777
Coventry Dale B. Wolf : $14,869,823
Health Net Jay M. Gellert: $3,686,230
Humana Michael McCallister: $10,312,557
U.Health Grp Stephen J. Hemsley: $13,164,529
WellPoint Angela Braly (2007): $9,094,271
L. Glasscock (2006): $23,886,169
Ins. Co. & CEO With 2008 Total CEO Compensation
Aetna, Ronald A. Williams: $24,300,112
Cigna, H. Edward Hanway: $12,236,740
Coventry, Dale Wolf: $9,047,469
Health Net, Jay Gellert: $4,425,355
Humana, Michael McCallister: $4,764,309
U. Health Group, Stephen J. Hemsley: $3,241,042
Wellpoint, Angela Braly: $9,844,212
"Administrative cost may be the healthcare industry's dirty little secret. Remarkably little research details the real cost of maintaining the American healthcare delivery system. If the best data available is accurate, healthcare administrative expense could be approaching $1 trillion annually".
"A California report from the Journal “Health Studies,” found that a third of healthcare dollars goes to support an administrative bureaucracy. The California estimate tends to confirm the findings of two other major independent investigations. Doctors from the Harvard University Medical School found a 300 percent higher administrative cost structure in the U.S. when contrasting similar costs with Canadian data. A wider analysis, by researchers from Johns Hopkins University, compared U.S. costs with those of six similar OECD (Organization for Economic Cooperation and Development) countries and calculated that the U.S. spends an average 256 percent more on administration.
The McKinsey Global Institute attributes 85 percent of this overhead differential to the highly complex private, U.S. health insurance system. Product design, underwriting, and marketing costs are responsible for 2/3 of overhead costs while more publicly supervised programs cost much less"
All this money or administrative costs have NOTHING to do with the quality of our helthcare. It has to do with how much the "Bank" or "Insurance Companies" can scam us for.
The Insurance companies are spending Huge Sums to support their scam.