2016 Postmortem
Related: About this forumHealth insurers profits soar while small business owners faced with coverage they can't afford.
So much for small business owners being the "cherished" backbone of the economy.
Several million previously uninsured Americans now have coverage because of Obamacare, but it could be argued that the people who have benefited most from the lawat least financiallyare the top executives and shareholders of the countrys health insurance companies.
Among those who apparently have not yet benefited much at all, at least so far, are owners of small businesses who would like to keep offering coverage to their employees but can no longer afford it. They cant afford it because insurers keep jacking their rates up so high every year that more and more of them are dropping employee health benefits altogether.
And lets be clear, these insurers arent suffering. UnitedHealth Group, the largest health insurer, reported last week that it made $10.3 billion in profits in 2014 on revenues of $130.5 billion. Both profits and revenues grew seven percent from 2013.
http://www.publicintegrity.org/2015/01/26/16658/health-insurers-watch-profits-soar-they-dump-small-business-customers
bkkyosemite
(5,792 posts)global1
(25,285 posts)in the first place. You would think that they would want to get rid of the burden of every year facing major decisions regarding health insurance for their employees.
It would be much easier for all involved for the individual employee to deal with that decision if it was a single payer/universal system or medicare for all.
I would think it would be easier for the Providers (MD's, Hospitals, etc) to deal with only one insurance carrier rather than dealing with multiple insurance companies that all have their own rules and forms. It is a headache for a Provider to deal with insurance as well. Right now they have to hire a firm to handle the insurance issues or hire a number of people in their practice to deal with just the insurance issues. They would save a lot of money and headaches if we had a universal system. One form to get familiar with and one carrier to deal with. Much easier. Much more efficient. Cheaper and will save money all the way around.
Warren Stupidity
(48,181 posts)They've got it, we don't.
Skwmom
(12,685 posts)Of course, that lost profit just means the insurance companies will need to get it from someone else. Can you guess who that is.
So they will get money from the taxpayers via subsidies and money from the taxpayers to pay for their coverage. It's a heck of a racket.
Warren Stupidity
(48,181 posts)Jeff Alter, chief executive of UnitedHealthcares employer and individual business, told Wall Street financial analysts last week that 60-65 percent of the countrys small businesses offered coverage to their workers in the 1990s, either through the big for-profits insurers or nonprofits like many Blue Cross and Blue Shield plans. Now, he said, its down to 50-55 percent. And that trend has been just as pronounced at the nonprofits as it has been at the for-profits.
Health care insurance costs have outpaced inflation just about every year during that period, frequently by a lot. Blaming the ACA for this trend is dubious. Actually I take that back.Without better substantiation it is horseshit.
Skwmom
(12,685 posts)Warren Stupidity
(48,181 posts)Several million previously uninsured Americans now have coverage because of Obamacare, but it could be argued that the people who have benefited most from the lawat least financiallyare the top executives and shareholders of the countrys health insurance companies.
It really is a non sequitur fallacy argument. The lead paragraph tosses in Obamacare and then the article dishonestly talks about an ongoing trend of unaffordability while neglecting to mention that if anything the ACA has slightly mitigated that trend.
Skwmom
(12,685 posts)a boost. They sell a product you legally have to have. But of course, they wouldn't try to take advantage of the situation - not the insurance companies.
Warren Stupidity
(48,181 posts)And the insurance companies were actually happier being able to gouge people pretty much at will, to not have to cover pre-existing conditions, to not have to meet minimum payout requirements, to be able to cap lifetime payments in case you somehow managed to get seriously ill while covered by their insurance policy, to kick your kids off at 18, to not cover a whole bunch of stuff they now have to cover so they could sell fraudulent "low cost" policies to suckers. But you know rofl or whatever. The article you posted is dubious crap.
Matariki
(18,775 posts)Oh the arguments I remember here
Bernin4U
(812 posts)Not saying it's wrong. But some fishy stuff, that I'm curious to look further into.
My understanding at this point is that the ACA being a big gift to insurance is more myth than reality. Some major providers have recently pulled out of the exchanges, which would not be happening if they were so "high on the hog".
For sure, health care is way too expensive. But most of that -seems- to be with the providers, not the insurers.
Just saying, look at it critically, don't assume based on popular memes.
Skwmom
(12,685 posts)Every time they lose money on investments they raise the premiums - something that is almost never talked about. I remember all the talking heads in 2008 moaning about the increase in insurance premiums. You think people could connect the dots.....
I worked for a very large company heavily involved with both industries and I stand by my comment.
Motown_Johnny
(22,308 posts)Doctor_J
(36,392 posts)My 300 person non profit is getting killed. It will keep getting worse until for profit healthcare is against the law.
Motown_Johnny
(22,308 posts)It is helping the small business I work for. We only have 20-25 employees at any given time so it is exempt from the law. I have my coverage through Healthcare.gov but I did have it through my employer prior to the law being passed.
I now have better coverage for less money and my employer no longer contributes to my premiums (which he was before the law passed). Also the owner is saving a couple hundred bucks a month on his family's coverage which now includes coverage for the two kids he has in college.
I don't know exactly how these people are defining small business, but I bet is isn't what you think it is.
Todays_Illusion
(1,209 posts)before the conservatives took over health care policy there were non-profit insurance cooperatives and organizations.