3 ms·
Oh yes, the "death panels" nonsense. I remember that bullshit. These insurance companies already are death panels, by design. They have a big pile of money and
by EliRivers 11y ago
Oh yes, the "death panels" nonsense. I remember that bullshit. These insurance companies already are death panels, by design. They have a big pile of money and they get to keep every penny they don't spend on someone's healthcare. Of course they're a fucking death panel. Their business model is letting the most people die without it becoming so obvious that people stop giving them money.
- maxerickson 11y agoThere is now the 80/20 rule: https://www.healthcare.gov/health-care-law-protections/rate-review/ https://www.healthcare.gov/health-care-law-protections/rate-... They have to spend 80% of premiums or give money back. This is supposedly a cost control, but it isn't clear to me that it provides the right incentives (the easiest way for an insurance company that hits the rule to increase their profits is to raise premiums...).
- MrTonyD 11y agoHaving worked for Fortune 50's for most of my life, I'm not optimistic about that law. There are so many ways to adjust accounting that it is just amazing. And every company uses many offshores these days - they provide services and costs to get profits offshore. And they provide "services" that can be classified in any way they want. Really, that law sounds like just another deception for the masses who don't really understand how the system works for the rich.
- EliRivers 11y agoOn a related tangent, I am reminded that the extraordinarily successful Harry Potter series of movies made a loss on paper. As you suggest, these people laugh in the face of the law.