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How long will Insurance Companies last?

Right now, Insurance companies re required to pay out 65% of premiums for regular claims and 45% for salaries, administrative and for the extra cash they have to have in case of a disaster (i.e. injuries incurred in floods,tornados, fires, etc)
Obama just signed in an 85/15 law. This means 85% of premiums have to be paid for regular claims and only 15% for salaries and the like.
Hampering this is the many new cost regulations and additions to the system.
Prices will first go up for those of us who have employer shared policies and even more for those self employed. Jobs will then be lost in the insurance business(not just the big companies)then the companies will close. Smaller ins companies say this will happen within 2-3 yrs.
Of course this is what Obama wants to help further his agenda.
It's a shame more people don't dig deep into these bills and instead listen to the talking points and lies from our Govt.

Answer Question

Asked by itsmesteph11 at 1:53 PM on Mar. 23, 2010 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (12)
  • Yes, because that's exactly what happened in every other country with universal health care. The end is in sight, Obama is on a mission to destroy the US! Everybody grab your guns and hide in your bunkers!


    Answer by Anouck at 1:56 PM on Mar. 23, 2010

  • The evidence was there all along that Barack Obama wanted to do away with private insurance and put government control in it's place.

    Answer by Anonymous at 1:57 PM on Mar. 23, 2010

  • Are you seriously concerned for the health insurance companies profits? Listen, they make billions and billions of dollars on premiums people must pay for coverage that they may never use! Do you know how much people pay to Cigna, Blue Cross, Aetna et al on premiums every month and how often we reap those benefits? If you're a healthy person, maybe you go to the doctor once a year and pay a few hundred, if not thousands every month. The insurance companies are JUST FINE. They are the last people/things you should be worried about. They routinely deny life saving procedures for people, killing them or driving them into debt for the rest of their lives. YOu have some messed up priorities if they are your main concern.

    Answer by Anonymous at 1:58 PM on Mar. 23, 2010

  • How about your care about the American people and not big business. My father in law is a personal injury attorney and routienly goes to war with insurance companies who outright refuse to pay for people who have been maimed, killed, had babies killed by incompetents, you name it! They are ruthless sharks who don't bat an eye at the misfortunes of others. These are not the people you should feel sorry for.

    Answer by Anonymous at 1:59 PM on Mar. 23, 2010

  • Interesting steph.This would not surprise me at all.Anouck why don't you go back to trying to say nobody cares about other people expect you or was that a dig at conservatives? A dig completely without any basis in fact.

    Answer by tnmomofive at 2:01 PM on Mar. 23, 2010

  • um for one insurance companies do not make some astronomical profit as you seem to think.Big Pharma brings in ALOT more and O boy is in bed with them! How ironic huh? Also,not all insurance companies are BIG but hey let's drive more folks out of business and have more unemployed.

    Answer by tnmomofive at 2:03 PM on Mar. 23, 2010

  • Prices will first go up for those of us who have employer shared policies and even more for those self employed.


    as thought that's not already happening? guess you don't have Blue Cross/Blue Shield.


    Answer by autodidact at 2:05 PM on Mar. 23, 2010

  • Hello Stupid Anons......
    There are millions and millions of people(85% of America) who have insurance through these companies. It's ok if you don't mind having government run care but it is my wish and right to keep the insurance I have and pay for. This is what Obama said was to be, right? I don't hear you. YES, thats what he said. HE LIED for the millionth time. Putting that aside, you don't care that hundreds of thousand of people will lose jobs? People who make a living at those big companies, the mom and pop who own the town insurance company. Tthe people who sell health insurance but won't sell it anymore so they need 2 less people employed? You do not HAVE to go to a Aetna or a United to get healthcare. I get so disgusted at some of these posts.
    My post was not even in favor of these companies it was to show what real, hard working people will be losing to a government health care system. Not that you care.

    Answer by itsmesteph11 at 2:20 PM on Mar. 23, 2010

  • I encourage us to look at the annual statements, annual reports, annual reviews of insurance companies, and other companies, for that matter. Some are struggling, some are not. In the report you can find the reasons. They are online and public information. Don't get fooled into siding with radio and tv talking heads because they 'seem' to make sense and tap into your fears and hopes. Some of us on both sides of the issues may be surprised.

    Answer by mama_k228 at 2:35 PM on Mar. 23, 2010

  • Steph, it's easy to complain about the evil insurance companies and the greedy doctors. However, if it was THEIR paychecks and benefits that were going to be cut, I'm sure we would see blood in the streets.

    The "let someone else pay for it" belief just doesn't fly.


    Answer by mancosmomma at 2:36 PM on Mar. 23, 2010

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