RegisterProfits Are Underrated
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Profits Are Underrated
by TexasBlue Tue Nov 23, 2010 8:16 pm
Profits Are Underrated
Neal Boortz
November 23, 2010
Why do you go into business? OK .. seems a bit trite, I know. But seriously consider the question. I assume your response would be: to make money. But if you ask the Obama administration, people go into business in order to serve others, and there are times when the government can force your services on others and then dictate how much you are allowed to keep from providing those services. I am talking about health care .. ObamaCare.
Yesterday the Obama administration released details on a new regulation to go into effect January 1, 2012. It states that money collected from private health insurance premiums must go toward medical care, rather than overhead, administrative costs or - gawd forbid - profit. In fact, the government can now demand that you offer your customers a rebate if you collect too much in premiums that is not spent on medical care.
Here's how it is explained in the news reports ...
Are you believing this, folks? The government is requiring that an industry spend 85% of its earnings on providing that service, leaving 15% left for everything else. What does "everything else" include? Administrative costs, marketing, taxes, commissions and profit! Among other things. A study released in 2006 found that "The private market administrative costs are expected to remain at about 9% of total private insurance cost, excluding premium taxes, commissions, and profit. With such items, private costs would be slightly under 17%." Folks, this has absolutely NOTHING to do with providing you better care at a better cost and everything to do with growing government and growing your dependency on government.
Neal Boortz
November 23, 2010
Why do you go into business? OK .. seems a bit trite, I know. But seriously consider the question. I assume your response would be: to make money. But if you ask the Obama administration, people go into business in order to serve others, and there are times when the government can force your services on others and then dictate how much you are allowed to keep from providing those services. I am talking about health care .. ObamaCare.
Yesterday the Obama administration released details on a new regulation to go into effect January 1, 2012. It states that money collected from private health insurance premiums must go toward medical care, rather than overhead, administrative costs or - gawd forbid - profit. In fact, the government can now demand that you offer your customers a rebate if you collect too much in premiums that is not spent on medical care.
Here's how it is explained in the news reports ...
The healthcare law requires large group health plans to allocate at least 85 cents per premium dollar to medical care, not administrative costs or profit. Plans for individuals or small groups must spend 80 cents per dollar.
If plans do not spend at least that much on care, policy holders get a rebate. HHS said Monday up to 9 million Americans could be eligible for up to $1.4 billion in rebates starting in 2012.
Are you believing this, folks? The government is requiring that an industry spend 85% of its earnings on providing that service, leaving 15% left for everything else. What does "everything else" include? Administrative costs, marketing, taxes, commissions and profit! Among other things. A study released in 2006 found that "The private market administrative costs are expected to remain at about 9% of total private insurance cost, excluding premium taxes, commissions, and profit. With such items, private costs would be slightly under 17%." Folks, this has absolutely NOTHING to do with providing you better care at a better cost and everything to do with growing government and growing your dependency on government.
TexasBlue
Re: Profits Are Underrated
by dblboggie Tue Nov 23, 2010 10:29 pm
And people doubted me when I said that the objective of Obamacare was NOT providing health insurance to the uninsured (which it doesn't btw), but to destroy private-sector health insurance providers and to eventually establish single-payer health insurance.
Why anyone would doubt this is beyond me since I have multiple times posted Obama on video saying that this IS what he wants and promised to do - single-payer - a government takeover of an entire industry, health insurance.
What does one call that again?
Why anyone would doubt this is beyond me since I have multiple times posted Obama on video saying that this IS what he wants and promised to do - single-payer - a government takeover of an entire industry, health insurance.
What does one call that again?
dblboggie
TexasBlue
Re: Profits Are Underrated
by dblboggie Tue Nov 23, 2010 11:28 pm
TexasBlue wrote:You sure you aren't Neal Boortz?
Quite sure... believe me... the only thing we share is baldness and a bad knee... 
dblboggie
Re: Profits Are Underrated
by dblboggie Wed Nov 24, 2010 12:13 am
TexasBlue wrote:
<--- well past mid-life...
<--- bald guy, but doesn't gamble...
dblboggie
Re: Profits Are Underrated
by dblboggie Wed Nov 24, 2010 5:31 pm
I wonder why we've not heard from our left-of-center friends here on this piece?
dblboggie
Re: Profits Are Underrated
by TexasBlue Wed Nov 24, 2010 5:52 pm
dblboggie wrote:I wonder why we've not heard from our left-of-center friends here on this piece?
Maybe because they know they'll lose?
TexasBlue
Re: Profits Are Underrated
by BubbleBliss Thu Nov 25, 2010 10:44 am
TexasBlue wrote:? The government is requiring that an industry spend 85% of its earnings on providing that service, leaving 15% left for everything else.
That's a flat out false statement. The quote in the article even says that "85 Cents of every PREMIUM Dollar" has to go to health care, not profit or other such things. All that means is that you GET what you PAY for and it prevents that companies make a profit on the money you give them for providing you with health care.
TexasBlue wrote:
Why do you go into business? OK .. seems a bit trite, I know. But seriously consider the question. I assume your response would be: to make money. But if you ask the Obama administration, people go into business in order to serve others, and there are times when the government can force your services on others and then dictate how much you are allowed to keep from providing those services. I am talking about health care .. ObamaCare.
.
That's the type of overstatement that looses talking heads like this guy credibility. NOWHERE does it say that businesses can't make a profit. I dare any one of you to show me where exactly is says that all the money a company makes should go into the pockets of other people.
This is just the kind of delusional talk of "Obama is a Socialist" that is making so many Conservatives sound like they wouldn't recognize Socialism if Karl Marx himself told them so. It is a flat out lie, just like this whole article.
And you wonder why nobody wants to debate this bullshit. It's not worth it and quite honestly, if one truly believes this article, then he/she really can't think by himself/herself and would rather have somebody else do it for them.
Of course, no outcry from the Conservatives on this board about the flat out lies in this piece. That's all saved for the "left-of-center" articles.
BubbleBliss
Re: Profits Are Underrated
by TexasBlue Thu Nov 25, 2010 8:06 pm
BubbleBliss wrote:That's a flat out false statement. The quote in the article even says that "85 Cents of every PREMIUM Dollar" has to go to health care, not profit or other such things. All that means is that you GET what you PAY for and it prevents that companies make a profit on the money you give them for providing you with health care.
Apparently you didn't read the accompanying article (the link). It's not hearsay or opinion. It is fact.
BubbleBliss wrote:That's the type of overstatement that looses talking heads like this guy credibility. NOWHERE does it say that businesses can't make a profit. I dare any one of you to show me where exactly is says that all the money a company makes should go into the pockets of other people.
This is just the kind of delusional talk of "Obama is a Socialist" that is making so many Conservatives sound like they wouldn't recognize Socialism if Karl Marx himself told them so. It is a flat out lie, just like this whole article.
From the article;
The regulation unveiled by the Health and Human Services Department calls for insurance companies to spend at least 80 cents of the premium dollar on medical care and quality. For employer plans covering more than 50 people, the requirement is 85 cents. Insurers that fall short of the mark will have to issue their customers a rebate.
Part of the new health care law, the rule is meant to give consumers a better deal. Administration officials said it will prevent insurers from wasting valuable premiums on administration, marketing and executive bonuses. "While some level of overhead costs is certainly necessary, we believe they have gotten out of hand," said Health and Human Services Secretary Kathleen Sebelius.
BubbleBliss wrote:And you wonder why nobody wants to debate this bullshit. It's not worth it and quite honestly, if one truly believes this article, then he/she really can't think by himself/herself and would rather have somebody else do it for them.
Show us the lies. Go read the article and get back to us on the "lies" bit.
BubbleBliss wrote:Of course, no outcry from the Conservatives on this board about the flat out lies in this piece. That's all saved for the "left-of-center" articles.
Then post something that spurs debate. I encourage it. But you bitch about what I post. Then put your money where your mouth is and post something to spur debate.
TexasBlue
Re: Profits Are Underrated
by dblboggie Thu Nov 25, 2010 9:06 pm
BubbleBliss wrote:TexasBlue wrote:? The government is requiring that an industry spend 85% of its earnings on providing that service, leaving 15% left for everything else.
That's a flat out false statement. The quote in the article even says that "85 Cents of every PREMIUM Dollar" has to go to health care, not profit or other such things. All that means is that you GET what you PAY for and it prevents that companies make a profit on the money you give them for providing you with health care.
And just how is that a false statement. Where do you think an insurance company gets its money? Selling cookies? No, the get it by selling insurance policies for which consumers remit PREMIUMS to the insurer. Those “premium dollars” ARE an insurers EARNINGS.
The government is “requiring” (read that holding a gun to a private-sector company’s head and forcing them to do something against their will) insurers spend 85% of their earnings, which come from PREMIUMS, on providing services – that leaves 15% for everything else! “85 cents of every premium dollar” is EXACTLY the same as 85% of EARNINGS – they are one and the same!
There is nothing false about that statement above at all, your semantics aside.
BubbleBliss wrote:TexasBlue wrote:Why do you go into business? OK .. seems a bit trite, I know. But seriously consider the question. I assume your response would be: to make money. But if you ask the Obama administration, people go into business in order to serve others, and there are times when the government can force your services on others and then dictate how much you are allowed to keep from providing those services. I am talking about health care .. ObamaCare.
That's the type of overstatement that looses talking heads like this guy credibility. NOWHERE does it say that businesses can't make a profit. I dare any one of you to show me where exactly is says that all the money a company makes should go into the pockets of other people.
This is just the kind of delusional talk of "Obama is a Socialist" that is making so many Conservatives sound like they wouldn't recognize Socialism if Karl Marx himself told them so. It is a flat out lie, just like this whole article.
And you wonder why nobody wants to debate this bullshit. It's not worth it and quite honestly, if one truly believes this article, then he/she really can't think by himself/herself and would rather have somebody else do it for them.
Of course, no outcry from the Conservatives on this board about the flat out lies in this piece. That's all saved for the "left-of-center" articles.
Really? Delusional is it? Here is a law FORCING private-sector insurers to spend their earnings in a manner THE GOVERNMENT sees fit, and not the legally constituted boards and executives of these companies!!!
This law essentially says “We don’t care that you went into business to make money, you will serve the people and NOT yourself!” And IF there happens to be enough money for profits out of that 15% the government ALLOWS you to keep to cover all overhead and related expenses, then good for you. BUT, if you happened to read the study that the author referenced, then you would know that this line was, in fact, true.
"The private market administrative costs are expected to remain at about 9% of total private insurance cost, excluding premium taxes, commissions, and profit. With such items, private costs would be slightly under 17%."
The reason no one wants to “debate this bullshit” as you put it, is because this bullshit is in fact true, and there can be no defense for this kind of blatant dictatorial power on the part of government in a constitutional republic.
The government in this case has stepped in and DICTATED how a private-sector company will spend its legal earnings! This isn’t hyperbole, THIS IS WHAT THE GOVERNMENT IS DOING!!!
dblboggie
Re: Profits Are Underrated
by dblboggie Fri Nov 26, 2010 6:52 pm
May we presume by your silence on this today, that you have realized the error of your first impression of the statements you took exception to here Bubbles?
dblboggie
Re: Profits Are Underrated
by BubbleBliss Sat Nov 27, 2010 4:49 am
Really? You posted the same message into 3 different threads? And don't flatter yourself, I simply haven't had the time to reply. There will be a response.
BubbleBliss
Re: Profits Are Underrated
by dblboggie Sat Nov 27, 2010 5:27 pm
BubbleBliss wrote:
Really? You posted the same message into 3 different threads? And don't flatter yourself, I simply haven't had the time to reply. There will be a response.
Oh trust me my young friend, this is not an exercise in self-flattery, I saw that you had responded to Tex's post on Germany and the Euro-zone and not these other 3, posts and just wanted to make sure they didn't get buried or lost in the shuffle.
I anxiously await your response.
dblboggie
Re: Profits Are Underrated
by BubbleBliss Sun Nov 28, 2010 10:11 am
The law does not adress health insurance providers but large companies in general. It means that when an employee pays a premium, 85% of that premium most go towards funding HC for that employee and not go to corporate bonuses or factor into the profit of the company in any other way.
Companies are not providing adequate Insurance to their employers, it's time for the government to step in and make sure that the employees get what they paid for. Of course, Conservatives put the Constitution over the well being of the people with this issue.
BubbleBliss
Re: Profits Are Underrated
by TexasBlue Sun Nov 28, 2010 10:57 am
Sooooo....... you going to back up your statement that you said here....
And how about this one?
Back it up!
BubbleBliss wrote:Neal Boortz wrote:The government is requiring that an industry spend 85% of its earnings on providing that service, leaving 15% left for everything else.
That's a flat out false statement. The quote in the article even says that "85 Cents of every PREMIUM Dollar" has to go to health care, not profit or other such things. All that means is that you GET what you PAY for and it prevents that companies make a profit on the money you give them for providing you with health care.
And how about this one?
BubbleBliss wrote:That's the type of overstatement that looses talking heads like this guy credibility. NOWHERE does it say that businesses can't make a profit. I dare any one of you to show me where exactly is says that all the money a company makes should go into the pockets of other people.
This is just the kind of delusional talk of "Obama is a Socialist" that is making so many Conservatives sound like they wouldn't recognize Socialism if Karl Marx himself told them so. It is a flat out lie, just like this whole article.
And you wonder why nobody wants to debate this bullshit. It's not worth it and quite honestly, if one truly believes this article, then he/she really can't think by himself/herself and would rather have somebody else do it for them.
Of course, no outcry from the Conservatives on this board about the flat out lies in this piece. That's all saved for the "left-of-center" articles.
Back it up!
TexasBlue
Re: Profits Are Underrated
by dblboggie Sun Nov 28, 2010 4:53 pm
BubbleBliss wrote:The law does not adress health insurance providers but large companies in general. It means that when an employee pays a premium, 85% of that premium most go towards funding HC for that employee and not go to corporate bonuses or factor into the profit of the company in any other way.
Companies are not providing adequate Insurance to their employers, it's time for the government to step in and make sure that the employees get what they paid for. Of course, Conservatives put the Constitution over the well being of the people with this issue.
Your opening line is BLATANTLY untrue! Either you are avoiding the question by obfuscation, or you just did not read the linked article which is HEADLINED "Obama Administration Issues Rules on Insurance Company Spending." The article itself VERY CLEARLY states:
The regulation unveiled by the Health and Human Services Department calls for insurance companies to spend at least 80 cents of the premium dollar on medical care and quality. For employer plans covering more than 50 people, the requirement is 85 cents. Insurers that fall short of the mark will have to issue their customers a rebate.
This is about INSURANCE companies, NOT "companies in general" as you say.
Furthermore, your post reveals a complete ignorance of how employer provided health care works. The VAST majority of employers who provide health care for employees, do so by buying policies from third party insurance companies. Employees ALSO contribute some of their pay for insurance plans being partially paid for by their employers. Employer provided insurance is a BENEFIT provided to employees! In most cases it is a partnership between the employer and the employee, with BOTH contributing to the cost of the insurance. These employers do NOT take the employee contribution and use it to pay for ANYTHING related to the employer - that would be ILLEGAL!!! 100 PERCENT of the employee's contribution, as well as 100 percent of the employers contribution goes to paying the premiums on these plans!!!
So, what you are saying above is completely and utterly FALSE! Do you understand this better now?
This law is tantamount to a government takeover of the health insurance industry for all intents. It is the imperial federal government DICTATING to all private-sector health insurance companies how they will spend their earnings. It is an affront to our constitution and an affront to freedom. It will do NOTHING to benefit health insurance consumers, and will, rather, hurt them in the end.
dblboggie
Re: Profits Are Underrated
by TexasBlue Sun Nov 28, 2010 5:00 pm
One might add that when employees get insured via an employer, they take the plan as is. If the Democrats would've actually worked in a real bi-partisan fashion, there would've been HSA and people could choose what coverage they wanted without any involvement from employers, therefore probably reducing the cost of insurance slightly.
TexasBlue
Re: Profits Are Underrated
by dblboggie Sun Nov 28, 2010 6:23 pm
TexasBlue wrote:One might add that when employees get insured via an employer, they take the plan as is. If the Democrats would've actually worked in a real bi-partisan fashion, there would've been HSA and people could choose what coverage they wanted without any involvement from employers, therefore probably reducing the cost of insurance slightly.
Democrats hate HSA's because this returns some modicum of power to individual consumers. The Democrats avoid anything that reduces their power and increases individual citizen's power. That is why there are no free-market reforms in the 2,700 pages of the so-called "health care reform" bill.
dblboggie
Re: Profits Are Underrated
by TexasBlue Sun Nov 28, 2010 8:39 pm
I would love an HSA. But I need a full time job first. Hope and Change ain't working too good so far. But wait! Even with a job I can't have an HSA. Never mind.
TexasBlue
Re: Profits Are Underrated
by dblboggie Mon Nov 29, 2010 3:49 pm
TexasBlue wrote:I would love an HSA. But I need a full time job first. Hope and Change ain't working too good so far. But wait! Even with a job I can't have an HSA. Never mind.
Yeah... HSA's are too sane for our imperial federal government to promote them. After all, this makes one a more informed consumer of health care services because it's the individuals personal money being spent, and that would discourage the needless access to health care services for every little sniffle.
dblboggie
Re: Profits Are Underrated
by dblboggie Tue Nov 30, 2010 2:48 pm
I realize you are busy with school Bubbles. I can certainly appreciate that. Just bumping this so you don't forget it. It's easy for these things to get lost at the bottom of the page.
dblboggie
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