health insurance companies killing small business

[mwcpa]

For all of those who are opposed to some form of government health care reform and think that the health insurance companies can do a better job, cheaper, I say ha...

I own a small business...my employee health insurance coverage is renewing in August.... The rate increased 19%..... and benefits were cut...... what other business can get away with increasing cost and decreasing services..... ridiculous.....

status quo, that's the way to go...NOT.... arrghhhhh.....

I am sure some will blame the President for the greed of these profits before care health insurance companies.....

[floridayankee]

Jun 2, 2011 12:27:32 GMT -5 mwcpa said:

For all of those who are opposed to some form of government health care reform and think that the health insurance companies can do a better job, cheaper, I say ha...

I own a small business...my employee health insurance coverage is renewing in August.... The rate increased 19%..... and benefits were cut...... what other business can get away with increasing cost and decreasing services..... ridiculous.....

status quo, that's the way to go...NOT.... arrghhhhh.....

I am sure some will blame the President for the greed of these profits before care health insurance companies.....

So, naturally, the best way to "fix" it is to make everybody purchase a product from that evil, greedy insurance company?

Makes perfect sense to me!

[❤ mollymouser ❤]

mwcpa ... can you shop around for a better deal on insurance?

[Savoir Faire-Demogague in NJ]

Health insurance companies have a profit margin of around 3%? I think it is the rising cost of health care and govt mandated coverage that drives health insurance premiums.

[b2r]

So which came first The Patient Protection and Affordable Care Act (PPACA) or your upcoming increase?

[Savoir Faire-Demogague in NJ]

So which came first The Patient Protection and Affordable Care Act (PPACA) or your upcoming increase?

Health care costs have been steadily rising for a long time, mostly due to govt mandates, and lack of govt reimbursments in govt run programs(ie: medicare and medicaid.

[hello fromWarsaw]

Health costs DOUBLED under BOOSH!!! With insurance the corps could just cut off if you got really sick.... Beeeeeoootiful! Health Reform is our only chance to stop that, oh, and 45k DEATHS a year....details, details.
Actually, bought off pub fear mongering is SCARING small business. Real patriots! Anything to get power back.

[wyouser]

except that the health reform act will not stop premium cost increases. They did not address areas to contain rising cost. My own health premium (I fall under the self employed definition) went up 100% on January 1st. I cant wait to see what premiums do as the rest of this act phases in.

[Savoir Faire-Demogague in NJ]

Health costs DOUBLED under BOOSH!!! With insurance the corps could just cut off if you got really sick.... Beeeeeoootiful! Health Reform is our only chance to stop that, oh, and 45k DEATHS a year....details, details.
Actually, bought off pub fear mongering is SCARING small business. Real patriots! Anything to get power back.

Reform of what? Medicare/medicaid paying physicians their full price instead of 50-60%? Technological improvements and advances are also very costly.
You have nothing to substantiate any of your claims.

[mwcpa]

"can you shop around for a better deal on insurance".... doing that.... I had the same % increase last year... very very frustrating.... and there is not a thing I can do, except tell my employees more comes out of their check.... we have to get lesser benefits to keep the costs in line.... and the benefit offered under the current plan are not that great.....

"Health insurance companies have a profit margin of around 3%" and now mine will be negative 3% thanks to the highway robbery of the cost of health care in the US.... my profit by many people's thinking includes my reasonable salary to myself... but health insurance and oil companies who cry no fair because they only make 3% make that 3% after taxes and after paying huge salaries and bonuses to executives.... I work mainly with "small" businesses.... and most of them do not make anywhere near 3% profits after taxes and after reasonable salaries for their work... why do we feel bad for profitable companies all the time.... banks screwed up, we bail them out and now they make insane profits again.... health insurance companies ask for rate increases they get them and make billions in profits after taxes.... utilities ask for rate increases and they get them..... I ask a client for a minimal COL increase and I get beaten up..... why do we sit back and allow industries like this to increase our costs 17-18-19%.... if I asked for a rate increase like that and proposed lesser service I would be out of business... but the health insurance cartel is in league with the politicians and political appointees who approve the rate increases year after year after year.....

"So, naturally, the best way to "fix" it is to make everybody purchase a product from that evil, greedy insurance company".... I did not say that....I said "some form of health care reform".... not sure where the leap is to your statement.... there is no easy fix.... but doing nothing, which is what some want, is not good, in my opinion.... "Obamacare" as it has been called by pundits may not be the cure, but it's sure a start.... let's get it tweaked over the next couple of years.... let's get a true public option....

I have said privately and publicly, before Mrs. Clinton's plan that got beat up by the health insurance lobbyists, we need to take the "profit" out of health care..... doctors should be allowed a reasonable salary for their extraordinary skill set, as should nurses, and other providers.... but do we really need a CEO making millions to deny claims (corporate death panels) and increase premiums so they can get bigger bonuses....arghhhhh!!!! Purely frustrating......

[wyouser]

changing from a corporate ceo denying coverage (corporate death panel) is different from a nameless faceless bureaucrat denying coverage (government death panel)??

[wyouser]

I agree with Savoir Faire.."reform of what"?

[fairlycrazy23]

Taking profit out of something will not make it more efficient. Profit and real competition would be a driver to making health care, cheaper, more innovative and more accessible, however, since health care is not really subject to normal market forces this has not been the case. However, in areas such as cosmetic surgery and laser eye correction, costs, innovation and accessibility have generally risen because of real market forces.

[jkapp]

>>I own a small business...my employee health insurance coverage is renewing in August.... The rate increased 19%..... and benefits were cut...... what other business can get away with increasing cost and decreasing services..... ridiculous..... <<

I don't know about any businesses, but government can...

And why are insurance companies raising premiums? Because health care costs are increasing...

And why are health care costs rising? Because our populace is aging and the government keeps undercutting the healthcare industry on payments which forces higher costs on private insurance while the government also does nothing to protect the industry from frivoluos lawsuits.

But keep blaming the insurance companies because its totally all their fault, right? Oh, and our company paid $28k for insurance last month...but accrued $35k in federal and state income taxes. Gee, I wonder which payments are going towards things that will actually benefit the employees?

[mwcpa]

"changing from a corporate ceo denying coverage (corporate death panel) is different from a nameless faceless bureaucrat denying coverage (government death panel)?? "
it may be true that there may be no difference (we have not seen who would be on such so called panels under the act known as Obamacare), but much of the focus on the debate on health care is that the government will dictate the care you can and cannot get.... my premise is that we already have that today with a faceless corporate executive making millions by denying you proper care while raising rates in extreme amounts year after year....

"since health care is not really subject to normal market forces this has not been the case"
and that is where the issue lies..... there is no "free market" with health insurance.... the insurance companies make and change the rules as they go with the blessing of political appointees who are more loyal to the lobbyists then the people who pay their salaries... oh but wait, the salaries we the taxpayers pay them is nothing compared to the salary they will get once their stint in public office is over....

"Taking profit out of something will not make it more efficient"...
Not saying it will, but do we really need the top 3-4 floors of health insurance companies..... how much waste and inefficiency is there.... it's amazing how we all get up in arms over bloat and waste in government, but when it comes to certain costs, like health insurance, we accept it....

Something needs to be done, the status quo is going to bankrupt us all, in my opinion....I am going to be left with a difficult decision in August.... how much of the 19% increase do I have my employees pay.... because I certainly cannot afford to pay for it all....

[mwcpa]

"but accrued $35k in federal and state income taxes"...

That is a fairly profitable business.... looks like well over 100K in pre-tax profits last month.....

[jkapp]

"Taking profit out of something will not make it more efficient"...
>>Not saying it will, but do we really need the top 3-4 floors of health insurance companies..... how much waste and inefficiency is there.... it's amazing how we all get up in arms over bloat and waste in government, but when it comes to certain costs, like health insurance, we accept it....<<

Well we've seen what not having those top few floors does to Medicare: $60-70 Billion in waste, fraud, and abuse every year. I'll take the several million in outrageous salaries over the several billion in waste...

[mwcpa]

"$60-70 Billion in waste, fraud, and abuse every year".....
yes, that is a problem.... in my opinion, if you give law enforcement the tools to combat these crimes that number can be reduced... but in true Congressional form, to spend a few dollars to save millions is never a good move....

[EVT1]

We don't need the top or bottom floors- we don't need health insurance companies in this country at all. Small businesses have been getting screwed by health insurers for a long time- I can't see a single reason why a business owner would be opposed to a single payer plan like Canada.

[wyouser]

You are totally confident that a single payor plan run by a government bureaucracy (OUR GOVERNMENT?) is even remotely capable of controlling costs? Is this compatable with the 36 year record of OUR government run medicare program? Doesnt ever increasing health care costs coincide with the beginning of medicare in the mid 1960s?

[EVT1]

I have confidence it would be cheaper, fix the Medicare/Medicaid fiscal issues, and give all citizens access to care. It would also put an end to medical bankruptcies, unfordable prescription medication, job lock, and a lot of other nastiness the current system has in it. If we had some politicians that actually represented the people we could have at least brought a plan forward rather than toss it off the table from the start. It will eventually happen- it has to- but it looks like it will be coming state by state.

[henryclay]

I agree with Savoir Faire.."reform of what"?

WE can't do much. But we CAN do something. We can vote for people who will stop the insanity of letting lawyers clog the legal system with lawsuits against every medical facility and practitioner they can identify.

mwcpa should know what his clients in the medical or pharmacuitical fields pay for insurance. All the way from floor nurses, paramedics, ambulance services, home health care people, pharmacies, clinics, hospitals, and I haven't even gotten to the doctors and operating rooms and labortories that do the tests for them. They are all supporting the same insurance companies. So where do they get their money to pay THEIR insurance? They get it from you and me, , , and they get a large portion of it from us so the medical profession can keep the lawyers in business.

[handyman2]

Yes blame the insurance company. REALLY. 20 years ago you had a pain in your chest doctors says he thinks it is a heart attack. Today they can through technology actually see your heart and what is happening there without cutting you open first. They can accurately locate brain tumors and safely remove them, They can adjust the nerves in the heart without massive invasive surgery. The list goes on and on as to technological improvements in helping people live longer. The problem is that these improvements cost the medical industry millions to have and maintain. Just the energy costs to a hospital have increased a hundred fold over the last few years.
This is all added to the health care costs and if you are familiar with them you will find the advancement in medical care is a big portion of the costs for you and the insurance industry. They alone are a big factor in your premium increases. True they can save more lives and help people return to a normal life like a veteran who lost both legs to walk again but it is expensive.

[formerexpat]

I own a small business...my employee health insurance coverage is renewing in August.... The rate increased 19%..... and benefits were cut...... what other business can get away with increasing cost and decreasing services..... ridiculous.....

status quo, that's the way to go...NOT.... arrghhhhh.....

www.deloitte.com/assets/Dcom-UnitedStates/Local%20Assets/Documents/Tax/us_tax_Prescriptionforchangefilled_033010.pdf

Read it - this is why your premiums are increasing.

[tbop77]

For the last 12 years I have been involved in the renewal process of our companies health insurance. Every single year we have experienced increases like the one stated in the OP.

Do you have a link or article that would explain that?

[rovo]

deminmaine, You're in the area around NH. What is being said up there about NHs proposed single payer legislation? What are your thoughts on the NH proposal?

[ugonow]

Re: health insurance companies killing small busin

Just wait until Ryan's plan dumps all those aging boomers on them. You don't really think they will just absorb all that increased exposure to risk,do you?

[ugonow]

Read it - this is why your premiums are increasing.

Mine have risen for the last 10 yrs.How did they forcast the future like that? The mutual pool is shrinking and costs are rising.

[rovo]

Deminmaine, My bad. Yes, Vermont. I think the population is about 620K so it should be enough to spread the risk. It will be an interesting experiment but will take years to implement.

[mmhmm]

The proposed plan in Vermont is really quite interesting, from what I can gather. It will be fascinating to follow it and see what happens. For everyone, whether small businessperson, working stiff, or new graduate just entering the stage of living life on his/her own, something needs to be done. Finding the right answer is the task set before us.