Insurance Companies are Bozo's

[Jason S.]

They have no interest in saving money or reducing medical costs. Along with doctors, hospitals and DME's, they co-conspire to jack up medical costs for all.

I bought my mask, headgear and hose from Amazon at 1/3 the price of cpap.com, and far less than what the DME would have charged. Since I haven't met my deductible, I would have been responsible for up to $300 of this cost. So my best option was to purchase myself (about $80 total). The insurance company refused to accept my purchase and give me the $80 credit towards meeting my deductible. It seems they would prefer I go to DME, who will probably bill them over $600 for the mask and headgear, of which the insurance company will say they only allow half, or $300, which will be passed on to me in full since I haven't met my deductible. So fine, I'm still better off my way, even if I have to pay my own medical expenses out of pocket.

What a racket!

[Wulfman]

They have no incentive to save (your) money because all they have to do is keep jacking up your premiums. (we don't notice it quite as much when it's withheld from our paychecks)

In my case, my insurance provider (self-insured PPO) reimbursed me for 80% of my initial out-of-pocket purchases back in 2005 when I started this journey and had met my deductible......but everything I've purchased since 2005 has been out-of-pocket. I haven't even had any medical expenses (doctor visits, etc.) since 2005, and on average, I've probably spent the amount of my deductible on spare "stuff" to squirrel away for the future.

Den

[jnk]

Watch your back. They rule the world.

[Jason S.]

Its not just my money that would be saved. If my deductible is met and I go to DME for mask replacement, they would have to cover about 80% of that $300, or $240. They would be better off reimbursing me the full $80 for my Amazon purchase. That would save them $160. But they aren't interested in that, because as you say, they make more money by jacking up their premiums, which they can accomplish under the radar. So the reality is they actually want to be billed the outrageous amounts by DME's. Its actually helps their bottom line while allowing them to put up a facade of indignance at the "outrageous" costs they are being billed by doctors, hospitals and DME's.

[roster]

This weekend I asked a cardiologist friend what would happen if the insurance industry disappeared and everyone became self-pay.

His response was, "The cost of a quadruple by-pass surgery would fall from $100,00 to $25,000. I would enjoy my work even more and there would be no reduction in my real income."

[Wulfman]

This weekend I asked a cardiologist friend what would happen if the insurance industry disappeared and everyone became self-pay.

His response was, "The cost of a quadruple by-pass surgery would fall from $100,00 to $25,000. I would enjoy my work even more and there would be no reduction in my real income."

Funny you should mention that. I've been wondering that for years......and sorta thought the same thing the cardio mentioned.....prices/costs would plummet.

Den

[jnk]

OK. Listen to me closely, people. Everyone in this thread needs to walk away (running would draw too much attention!), leave your credit cards and cell phones behind you, change your identities, and find some sort of undergroud international witness protection program before they figure out who you guys really are. My third heads-up to you may be too late and we may never hear from you again, so go, Go, GO!!!

[roster]

This weekend I asked a cardiologist friend what would happen if the insurance industry disappeared and everyone became self-pay.

His response was, "The cost of a quadruple by-pass surgery would fall from $100,00 to $25,000. I would enjoy my work even more and there would be no reduction in my real income."

Funny you should mention that. I've been wondering that for years......and sorta thought the same thing the cardio mentioned.....prices/costs would plummet.

Den

Den,

I would like to find statistics that show all of these costs:
-Health insurance companies' administrative costs and profits
-All costs of medical industry (doctors, hospitals, DMEs, etc) related to dealing with and processing health insurance.

This is going to be a very high number in the billions. It is a big component of medical costs (and medical confusion and waste) in this country. Throw that all out and costs will come down.

The family practice I used to go to in my small town owned a building with two floors. For years the second floor was vacant. Eventually it got to the point where medicine was practiced on the first floor and the second floor was full with people in cubicles working on insurance claims, questions and approvals. There were still hours every day that people on the first floor had to spend working on "second-floor" issues.

Eventually the doctors sold out to a large hospital group that promised to do all the insurance work and let them practice medicine. But the work and expense is still there; it is just done in a different building. And the docs still have to get involved in insurance issues.

[DreamStalker]

This weekend I asked a cardiologist friend what would happen if the insurance industry disappeared and everyone became self-pay.

His response was, "The cost of a quadruple by-pass surgery would fall from $100,00 to $25,000. I would enjoy my work even more and there would be no reduction in my real income."

But CEO fortunes would vaporize

Cash cows would go up in smoke (mmmm Bar-B-Q)

and B&M DMEs ... oh the slaughter would just blow them all away.

[jnk]

This weekend I asked a cardiologist friend what would happen if the insurance industry disappeared and everyone became self-pay.

His response was, "The cost of a quadruple by-pass surgery would fall from $100,00 to $25,000. I would enjoy my work even more and there would be no reduction in my real income."

But CEO fortunes would vaporize

Cash cows would go up in smoke (mmmm Bar-B-Q)

and B&M DMEs ... oh the slaughter would just blow them all away.

Half the country would then be unemployed.

[Wulfman]

Don't forget there's one component of the insurance industry that's got everybody by the "short & curlies".......LIABILITY COVERAGE.
The doctors, hospitals and anyone in the medical community can't "practice" without it. Do YOU want to go to a doctor or hospital that wouldn't have malpractice insurance? (we HOPE they do)

There are enough "bad" doctors and too many events occurring that keep their insurance rated very high......and that's also part of what we're paying for in their fees. And, don't forget the ambulance-chasing lawyers.....they need to make a living, too.


Den

[jnk]

Don't forget there's one component of the insurance industry that's got everybody by the "short & curlies".......LIABILITY COVERAGE.
The doctors, hospitals and anyone in the medical community can't "practice" without it. Do YOU want to go to a doctor or hospital that wouldn't have malpractice insurance? (we HOPE they do)

There are enough "bad" doctors and too many events occurring that keep their insurance rated very high......and that's also part of what we're paying for in their fees. And, don't forget the ambulance-chasing lawyers.....they need to make a living, too.


Den

OK, three-quarters of the country, then.

[roster]

..........
Half the country would then be unemployed.

And we should have kept the telephone cord switchboards. We would need 107,543, 217 fulltime operators to switch all the calls we make today. We would have full employment!

[roster]

Insurance Companies are Bozo's

I highly resent that!

[Velbor]

Everything I read here suggests that insurance companies are most assuredly NOT "Bozos".

There are many other sorts of names we might call them, but there is no evidence that they are clowns or fools. They are making their profits.

Some of us fight them. Some of us play their game to our own advantage. Some of us don't know how to play. Some of us are locked out of the game. Some of us haven't a clue that there is a game at all. Too many of us, and our representatives, know that there is a game, but do nothing.

So I ask, who, really, are the "Bozos"?