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For all the crappy stuff insurance does, their medical loss ratio for group insurance is pretty good. The actual problem is that healthcare costs way more in th
by eapressoandcats 4y ago
For all the crappy stuff insurance does, their medical loss ratio for group insurance is pretty good. The actual problem is that healthcare costs way more in the US than most other countries. Health insurance just ends up getting the blame for that.
- missedthecue 4y agoI tend to agree. People love to blame insurers for the difference in price between US and (other country) healthcare prices, without any mention of facts like US nurses earning 4 to 8 times as much as an average NHS nurse, or that half a trillion dollars goes to end of life care in the US every year, i.e. spending $70,000 to extend an 85 year life 3 more months. Income = expenditure. They are one and the same. Every dollar spent on healthcare in the US is someone else's income and looking at the profit margins, 'someone else' doesn't seem to be the insurers.
- cmiles74 4y agoIMHO, the push-and-pull between insurance companies and hospitals is a big problem here. They seem to be in a co-dependent battle to consistently raise the costs of everything. I don't think any solution to managing cost will succeed unless we're altering the incentives for both insurance companies and hospitals.