Are all health insurance companies just after our money? Do you really think they care about our health?
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health insurance companies are difficult to work with and time consuming, so that about sums it up
It isn't that simple.There are many factors to consider. Health insurers that attract the most subscribers while minimizing payouts will be most successful. So it makes sense to try to attract healthy people and encourage unhealthy people to change their behavior. If they can, they will help you to make healthy choices because it helps the bottom line and minimizing risk.Remember, a company that doesn't look after the bottom line won't exist for that long. They must carefully balance the needs of everyone -- and it isn't an easy balancing act -- You have to balance the needs of investors, who only care about making money from their investment... Employees who want to make a decent salary and will be fired if they can't or won't maximize profitability... Regulators, who want everything approved and don't care what it costs... Subscribers, who don't want to pay the bill if all services are approved.So you balance all of that... Oh, and don't forget to save enough for the future so that your company can expand and attract new subscribers with low prices.Unfortunately, if you hate the way this is...the people you're going to interact with are most likely going to be customer service reps and claim analysts. They don't have any incentive to approve or deny you beyond keeping their boss off their back.That's reality. I'm not going to tell you that it is right or wrong... Just giving you something to think about.
Here is a fact you should know. When the ACA (Obamacare) was made into law, then (all) insurance companies MUST pay out 80% (private) and 85% on employer based health care claims, and (if) not, then they MUST refund the difference in premiums to you or to your employer.Hospitals, doctors or even your auto or homeowners insurance don’t have this rule, only health insurance companies.Yes, it sucks, that in many cases with the new policies that many people pay more, since another provision of the ACA is that they must insure (everyone) even with pre-existing conditions.Now if you are a bad risk, say as a young driver, or have had many accidents or tickets, then many companies won’t insure you and they can, deny you, but not with health insurance.
Just like any business is out to make money. Of course, the profit margins on heatlh insurance companies are pretty slim - much less than Coca Cola, or even the pharmaceutical companies. Neither of them care about your health, either, and make a hell of a lot more money off of you.
I doubt you will find many actual doctors in any insurance company, or at least those that make decisionsany company has to make a profit to continue in business and that means they have to charge enough to cover what they are having to pay outInsurance companies in the past have made very good profits, which in turn they have turned around and invested in other businesses that make additional moneyas for one's health, they of course would like you to not need any medical help that they would have to pay out so of course, they will encourage you to maintain good habits, ie. not smoking, drinking, taking undue chances etc.
No, they are a business.
They're people just like you and me. Of course they care. But, they also come out with wellness programs and the like, because if they can remove a small tumor today, not only does it prolong the patient's life, it's a heck of a lot cheaper.
No they don't care about our health. They care about their bottom line and their profit margins only. Society needs to do something about billion dollar health insurance companies, and multi-millionaire doctors who rake in vast profits through health care.
They do care, as far as they can, because they don't pay-out UNLESS you get sick. The healthier you are. the more profitable they are...........
Most insurance companies are in business to make a profit. It's the free enterprise system that forms the basis of our country's economy.
Correct, they are businesses with investors who want to see returns. However, they sell you a policy and must honor that policy...by law. Its a contract, no different than a lease or car loan or something like that. If they don't live up to their end of the bargain, they get sued and there are additional penalties.I'm not sure what is confusing about this. Even hospitals don't care about people, they are in business to make money. They will make less money if people don't survive...so they have an incentive to be good at their job.Doctors are in business to make money too...again, they'll only make money if they are treating people effectively. However, you don't see too many doctors who spend all of their time volunteering; they've got loans and needs just like everyone else.
They are in the business of making money for stock holders. All businesses are in business to make money. They have to care about the service they provide but at the lowest cost possible. Otherwise, they'd be out of business either because of poor health care or not making enough money. Catch-22.
No! We are just numbers and $ signs! Insurance is a business just like anything else and if the investors were not getting rich from it, it wouldn't work!
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