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originally posted by: Deny Arrogance
a reply to: luciferslight
It sucks to pay for universal health care for tens of millions of illegals and deadbeats.
Why do you think the rates are continually skyrocketing?
The problem is and always has been the insurance companies.. They preform no medical service. They are only paper pushers and they keep over 25% OF ALL MONEY SPENT ON HEALTH CARE.. That means that health care period, costs AT LEAST 25% more than is necessary. We have got to go single payer like every other modern country..
The industry as a whole chalked up a profit margin of more than 10% in 2007, but that was carried by the life insurance side of the industry. Health insurance companies don’t fare nearly as well when it comes to making profits. Far more of their revenues are eaten up by claims, which continue to grow year after year as health care costs increase.
If we look at all industries, only two show profits greater than 20% for 2007 (network/communication equipment, and mining/crude oil production).
Some estimate that private insurers lose 1% to 1.5% of their revenue to fraud alone and credit card fraud is estimated to be at around 0.05%, while Medicaid and Medicare numbers are closer to 10% to 15%.
I believe one can simply wait until they are sick, then get the insurance, then drop it after the bills are paid.