Health insurance is ripping people off and it needs to stop. 2014 _Percent of population of insured groups Employer based 49% Medicaid 19% Medicare 13% Individual 6% Other public (Vets) 2% Uninsured 10% This is per Peterson-Kaiser website that provides all of the healthcare stats In 2014 for health spending Medicaid paid 160 billion There are 61 million people that are on Medicaid which equals to $2,622 per person. Medicare paid 240 billion There are 41 million people that are on Medicare which equals to $5,853 per person. Private insurance paid 350 billion There are 154 million with employer based cov and 19 million who have individual coverage which equals to $2,023 per person. How does private insurance justify charging on average $6,000 per year in premiums for single coverage and for family coverage $17,000 per year in premiums? Since 1999 to 2014 premiums have increased 203% outpacing both inflation and workerÂ’s earnings. Since the ACA, premiums have slowed to 4% increase, however deductibles in the last 5 years have increased by 67%. Consumer out of pocket has increased since 1999 In 1999 cost to consumers was 70 billion In 2014 cost to consumers was 130 billion Again, how does insurance company rates justify these facts?
Insurance companies just pass their costs (claims paid) on to customers through premiums. If costs go up, premiums go up. If costs go down, premiums go down. Some insurance companies actually pay out more in claims than they take in with premiums. How do they survive? They cover the gap with their investment income.
Medicaid patients are generally treated at a loss which is why it is increasingly difficult to find people to treat those patients. As for the rest, Texas Republican answered. My insurance is going up at 25% a year to help pay for the 400 pound diabetic with no legs and a heart condition to go to dialysis 3 times a week for their failing kidneys because it would be unfair to them to just be allowed to die but it is not unfair to me to rob me to pay for your fairness.
