Comments on: what will happen to insurance companies with Health Care reform? http://www.financebis.com/20100705/what-will-happen-to-insurance-companies-with-health-care-reform/ Financial Information Thu, 25 Aug 2011 17:43:20 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Jerry M http://www.financebis.com/20100705/what-will-happen-to-insurance-companies-with-health-care-reform/#comment-83670 Jerry M Mon, 05 Jul 2010 19:16:20 +0000 http://www.financebis.com/2010/07/05/what-will-happen-to-insurance-companies-with-health-care-reform/#comment-83670 I hope THEY TANK! I HATE GREED therefor since Insurance companies turn away children with Pre-existing conditions because they do not make a profit. For those who ARE for health care for profit then I Hope you never take advantage of the reform bill and When the insurance company's deny those against the current health-care coverage I want to be their to LAUGH in the their faces!! Hope those of you out their that SMOKE keep that from your respective insurance companies because they will drop you likes it hot. I hope THEY TANK! I HATE GREED therefor since Insurance companies turn away children with Pre-existing conditions because they do not make a profit. For those who ARE for health care for profit then I Hope you never take advantage of the reform bill and When the insurance company’s deny those against the current health-care coverage I want to be their to LAUGH in the their faces!!

Hope those of you out their that SMOKE keep that from your respective insurance companies because they will drop you likes it hot.

]]> By: Johnny D http://www.financebis.com/20100705/what-will-happen-to-insurance-companies-with-health-care-reform/#comment-83669 Johnny D Mon, 05 Jul 2010 18:59:54 +0000 http://www.financebis.com/2010/07/05/what-will-happen-to-insurance-companies-with-health-care-reform/#comment-83669 How could they? Insurance profit margins are razor thin and in order to make a profit they have had to boost their prices many times in recent years as claims rise. Now, by the end of the year they will be required to shorten their history window from 6 months to 30 days for pre-existing condition denial, eliminate lifetime caps, add coverage for children up to age 26 on parents plans, make reconstructive surgery for children covered, require 85% of income to be spent on medical payments, and a number of other things which all sound like great deals for those being covered, but will explode costs to these insurance providers. The only thing they will be able to do is to increase the price of insurance which will be carefully monitored by the government. Without a huge reduction in administrative fees, there will be little or no profit shown, shareholders will sell, and the companies will spiral into bankruptcy. We may even see the uninsured numbers increase along with the rise in unemployment at least until 2013 when the individual mandate, public option, and insurance exchanges come into effect. If they are still in existence at that point, how are they going to compete with a company that not only does not have to remain profitable, but can go into as much debt as it wants to? Reform is necessary, but I am not sure its implementation will do all the good that we have been promised. How could they? Insurance profit margins are razor thin and in order to make a profit they have had to boost their prices many times in recent years as claims rise. Now, by the end of the year they will be required to shorten their history window from 6 months to 30 days for pre-existing condition denial, eliminate lifetime caps, add coverage for children up to age 26 on parents plans, make reconstructive surgery for children covered, require 85% of income to be spent on medical payments, and a number of other things which all sound like great deals for those being covered, but will explode costs to these insurance providers.

The only thing they will be able to do is to increase the price of insurance which will be carefully monitored by the government. Without a huge reduction in administrative fees, there will be little or no profit shown, shareholders will sell, and the companies will spiral into bankruptcy. We may even see the uninsured numbers increase along with the rise in unemployment at least until 2013 when the individual mandate, public option, and insurance exchanges come into effect. If they are still in existence at that point, how are they going to compete with a company that not only does not have to remain profitable, but can go into as much debt as it wants to?

Reform is necessary, but I am not sure its implementation will do all the good that we have been promised.

]]> By: Michelle http://www.financebis.com/20100705/what-will-happen-to-insurance-companies-with-health-care-reform/#comment-83668 Michelle Mon, 05 Jul 2010 18:09:38 +0000 http://www.financebis.com/2010/07/05/what-will-happen-to-insurance-companies-with-health-care-reform/#comment-83668 They will still be around, but the people who still have policies under them will be so highly taxed that they will practically be forced to use the government provided policies. They will still be around, but the people who still have policies under them will be so highly taxed that they will practically be forced to use the government provided policies.

]]> By: Kelle http://www.financebis.com/20100705/what-will-happen-to-insurance-companies-with-health-care-reform/#comment-83667 Kelle Mon, 05 Jul 2010 17:49:48 +0000 http://www.financebis.com/2010/07/05/what-will-happen-to-insurance-companies-with-health-care-reform/#comment-83667 They won't be able to cut people off when they become sick or reach the age of majority. They won’t be able to cut people off when they become sick or reach the age of majority.

]]> By: David http://www.financebis.com/20100705/what-will-happen-to-insurance-companies-with-health-care-reform/#comment-83666 David Mon, 05 Jul 2010 16:57:04 +0000 http://www.financebis.com/2010/07/05/what-will-happen-to-insurance-companies-with-health-care-reform/#comment-83666 they will thrive. you and your family will pay for the uninsured. nancy pelosi will dance. they will thrive. you and your family will pay for the uninsured. nancy pelosi will dance.

]]>