The company says it is protecting nursing home residents by curbing unnecessary hospital transfers. Whistleblowers allege cost-cutting tactics have endangered the elderly
Okay, but this law is over 15 years old. We can assume they’ve long since min-maxxed to get that 20% as close to bang on as possible. This is established as the general reason a for-profit healthcare system is bad (and that worse care also costs more than a single-payer solution). And why the ACA was put in place in the first place. To cap it there.
How to hit that 20% on the nose every fiscal year isn’t what I was asking. It was about the generally accepted claim that the more insurers DDD, the more money they make from premiums, thereby increasing their profit margin.
That they have maxed the profit portion of it for one. That they don’t more reliably increase the portion they get to keep that ends up as profits for another.
Do you understand that they can lose money if the medical costs are too high?
I absolutely have not. Not once has anyone given me an answer that shows the simple mathbi outlined is wrong.
Just hostility from what I can only presume is a desperation to save face after you said so many blatantly incorrect things (which, unlike you, I’m happy to quote for you of you don’t believe me)
How are you smart enough to set up an instance but not smart enough to understand companies cutting costs increases profits and that companies are good at breaking laws and getting away with it?
Overall, the unweighted average loss ratio was 1.6% higher in Q2 2024 at 85.8% compared to Q2 2023 at 84.2%, as all carriers except Elevance increased year-over-year. The increases are: CVS Health (Aetna) (86.2% to 89.6%), UnitedHealthcare (83.2% to 85.1%), and Cigna (81.2% to 82.3%).
So looks right in line with the 80-85% requirement.
That they don’t more reliably increase the portion they get to keep that ends up as profits for another.
Increase the portion of premiums they get to keep? How…
Do you understand that they can lose money if the medical costs are too high?
Of course. But that doesn’t change the fact that they can’t keep a larger portion of the premiums after medical costs and rebates if the medical costs get lower.
Okay, but this law is over 15 years old. We can assume they’ve long since min-maxxed to get that 20% as close to bang on as possible. This is established as the general reason a for-profit healthcare system is bad (and that worse care also costs more than a single-payer solution). And why the ACA was put in place in the first place. To cap it there.
How to hit that 20% on the nose every fiscal year isn’t what I was asking. It was about the generally accepted claim that the more insurers DDD, the more money they make from premiums, thereby increasing their profit margin.
I see two other people who have also clearly explained this to you but apparently you can’t let your incorrect assumptions about the 20% go.
What incorrect assumptions about the 20%?
That they have maxed the profit portion of it for one. That they don’t more reliably increase the portion they get to keep that ends up as profits for another.
Do you understand that they can lose money if the medical costs are too high?
Another downvoted, but still no answer. Why?
It’s wild that you can’t just admit you were wrong after being so hostile to me for so long.
No answer…
Removed by mod
I absolutely have not. Not once has anyone given me an answer that shows the simple mathbi outlined is wrong.
Just hostility from what I can only presume is a desperation to save face after you said so many blatantly incorrect things (which, unlike you, I’m happy to quote for you of you don’t believe me)
How are you smart enough to set up an instance but not smart enough to understand companies cutting costs increases profits and that companies are good at breaking laws and getting away with it?
Therefore, no matter how much you drop
b,dis still always going to be 20% ofa.Where does the extra amount in
dcome from?Really? What’s the average Medical Loss Ratio of major insurers then?
Edit: https://www.oliverwyman.com/our-expertise/insights/2024/sep/health-insurer-financial-insights-q2-2024.html
So looks right in line with the 80-85% requirement.
Increase the portion of premiums they get to keep? How…
Of course. But that doesn’t change the fact that they can’t keep a larger portion of the premiums after medical costs and rebates if the medical costs get lower.