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BCBS of NC asks for 23% increase in 2018
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solohawks Offline
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Post: #21
RE: BCBS of NC asks for 23% increase in 2018
(05-25-2017 10:48 PM)Tom in Lazybrook Wrote:  
(05-25-2017 10:36 PM)solohawks Wrote:  
(05-25-2017 09:35 PM)Tom in Lazybrook Wrote:  
(05-25-2017 11:23 AM)200yrs2late Wrote:  Yet another increase requested.
http://www.wcti12.com/516638215



BCBS rates will have doubled (on average) in NC since 2015

2018 + 23%
2017 +24.3%
2016 +32%

And how were bonuses and executive compensation looking at BCBS NC? How about the reserves?

---

The only solution is single payer. The private system doesn't work because they're just looting the system.
How long do you reserves would last with annual losses in the 8 digit range

Really long if BCBS didn't create different pools to capture all the people who make claims into one pool and then claim they're losing money

Basically its 2 year process

Year 1 - Create only 1 plan that actually covers hospitals that sick people need. Make the plan really expensive. Only those who really need to use the plan will use it

Year 2 - Hey, our plan is losing money!

---

The reserves will keep people insured longer if the people who paid them actually get to use them.
So in your opinion they shouldn't segment their plans to know which ones are profitable and which ones are losing money
05-26-2017 12:02 AM
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Tom in Lazybrook Offline
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Post: #22
RE: BCBS of NC asks for 23% increase in 2018
(05-26-2017 12:02 AM)solohawks Wrote:  
(05-25-2017 10:48 PM)Tom in Lazybrook Wrote:  
(05-25-2017 10:36 PM)solohawks Wrote:  
(05-25-2017 09:35 PM)Tom in Lazybrook Wrote:  
(05-25-2017 11:23 AM)200yrs2late Wrote:  Yet another increase requested.
http://www.wcti12.com/516638215



BCBS rates will have doubled (on average) in NC since 2015

2018 + 23%
2017 +24.3%
2016 +32%

And how were bonuses and executive compensation looking at BCBS NC? How about the reserves?

---

The only solution is single payer. The private system doesn't work because they're just looting the system.
How long do you reserves would last with annual losses in the 8 digit range

Really long if BCBS didn't create different pools to capture all the people who make claims into one pool and then claim they're losing money

Basically its 2 year process

Year 1 - Create only 1 plan that actually covers hospitals that sick people need. Make the plan really expensive. Only those who really need to use the plan will use it

Year 2 - Hey, our plan is losing money!

---

The reserves will keep people insured longer if the people who paid them actually get to use them.
So in your opinion they shouldn't segment their plans to know which ones are profitable and which ones are losing money

No they shouldn't. You can't have insurance for sick people at a rate people can afford.....if you take reserves from everyone when they are young and healthy....and then don't use that to pay or subsidize those who are older and sicker.

All policy plans should be open to all people. No segmentation.

Might as well simply not have private insurance at all. They're just extracting a rent and providing no value to the system.

----

How would YOU create a system for affordable insurance protection that covers people from financial ruin if they get sick or have a pre-existing condition that the insured can count on?


----

BCBS NC - We're 'losing' money but we're paying millions to executives in bonuses!
05-26-2017 12:26 AM
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JMUDunk Offline
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Post: #23
RE: BCBS of NC asks for 23% increase in 2018
(05-26-2017 12:26 AM)Tom in Lazybrook Wrote:  
(05-26-2017 12:02 AM)solohawks Wrote:  
(05-25-2017 10:48 PM)Tom in Lazybrook Wrote:  
(05-25-2017 10:36 PM)solohawks Wrote:  
(05-25-2017 09:35 PM)Tom in Lazybrook Wrote:  And how were bonuses and executive compensation looking at BCBS NC? How about the reserves?

---

The only solution is single payer. The private system doesn't work because they're just looting the system.
How long do you reserves would last with annual losses in the 8 digit range

Really long if BCBS didn't create different pools to capture all the people who make claims into one pool and then claim they're losing money

Basically its 2 year process

Year 1 - Create only 1 plan that actually covers hospitals that sick people need. Make the plan really expensive. Only those who really need to use the plan will use it

Year 2 - Hey, our plan is losing money!

---

The reserves will keep people insured longer if the people who paid them actually get to use them.
So in your opinion they shouldn't segment their plans to know which ones are profitable and which ones are losing money

No they shouldn't. You can't have insurance for sick people at a rate people can afford.....if you take reserves from everyone when they are young and healthy....and then don't use that to pay or subsidize those who are older and sicker.

All policy plans should be open to all people. No segmentation.

Might as well simply not have private insurance at all. They're just extracting a rent and providing no value to the system.

----

How would YOU create a system for affordable insurance protection that covers people from financial ruin if they get sick or have a pre-existing condition that the insured can count on?


----

BCBS NC - We're 'losing' money but we're paying millions to executives in bonuses!

Do you ever tire of lying? To yourself and everyone else?

Ever?
05-26-2017 12:30 AM
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solohawks Offline
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Post: #24
RE: BCBS of NC asks for 23% increase in 2018
(05-26-2017 12:26 AM)Tom in Lazybrook Wrote:  
(05-26-2017 12:02 AM)solohawks Wrote:  
(05-25-2017 10:48 PM)Tom in Lazybrook Wrote:  
(05-25-2017 10:36 PM)solohawks Wrote:  
(05-25-2017 09:35 PM)Tom in Lazybrook Wrote:  And how were bonuses and executive compensation looking at BCBS NC? How about the reserves?

---

The only solution is single payer. The private system doesn't work because they're just looting the system.
How long do you reserves would last with annual losses in the 8 digit range

Really long if BCBS didn't create different pools to capture all the people who make claims into one pool and then claim they're losing money

Basically its 2 year process

Year 1 - Create only 1 plan that actually covers hospitals that sick people need. Make the plan really expensive. Only those who really need to use the plan will use it

Year 2 - Hey, our plan is losing money!

---

The reserves will keep people insured longer if the people who paid them actually get to use them.
So in your opinion they shouldn't segment their plans to know which ones are profitable and which ones are losing money

No they shouldn't. You can't have insurance for sick people at a rate people can afford.....if you take reserves from everyone when they are young and healthy....and then don't use that to pay or subsidize those who are older and sicker.

All policy plans should be open to all people. No segmentation.

Might as well simply not have private insurance at all. They're just extracting a rent and providing no value to the system.

----

How would YOU create a system for affordable insurance protection that covers people from financial ruin if they get sick or have a pre-existing condition that the insured can count on?


----

BCBS NC - We're 'losing' money but we're paying millions to executives in bonuses!

Ill play along

http://wncn.com/2016/05/05/blue-cross-st...obamacare/

Per this article BCBS NC lost 282 million on Obamacare plans.

http://www.journalnow.com/business/busin...93185.html

Per this article, the CEO's bonus was 2.27 million

Ok so throw his entire bonus to help fund the Obamacare plans and BCBS NC still has lost 279.73 million dollars in their Obamacare business segment.

How do they make up the rest of that shortfall without a long term bleeding out of the company?
05-26-2017 07:41 AM
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200yrs2late Offline
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Post: #25
RE: BCBS of NC asks for 23% increase in 2018
(05-25-2017 09:35 PM)Tom in Lazybrook Wrote:  
(05-25-2017 11:23 AM)200yrs2late Wrote:  Yet another increase requested.
http://www.wcti12.com/516638215



BCBS rates will have doubled (on average) in NC since 2015

2018 + 23%
2017 +24.3%
2016 +32%

And how were bonuses and executive compensation looking at BCBS NC? How about the reserves?

---

The only solution is single payer. The private system doesn't work because they're just looting the system.

You have had this explained to you numerous times. BCBS is spending at least 80% of premium revenues on health care, leaving 20% or less for overhead and profit. Your refusal to accept 100% factual information makes you little more than a worthless troll in any discussion regarding healthcare and health insurance. Instead of joining the discussion, all you can do is repeat the same worn out bull**** that you hold to be truth despite a mountain of evidence. This board would truly be a better place without you.

Quote:80/20 Rule

The 80/20 Rule generally requires insurance companies to spend at least 80% of the money they take in from premiums on health care costs and quality improvement activities. The other 20% can go to administrative, overhead, and marketing costs.

The 80/20 rule is sometimes known as Medical Loss Ratio, or MLR. If an insurance company uses 80 cents out of every premium dollar to pay for your medical claims and activities that improve the quality of care, the company has a Medical Loss Ratio of 80%.

Insurance companies selling to large groups (usually more than 50 employees) must spend at least 85% of premiums on care and quality improvement.

If your insurance company doesn’t meet these requirements, you’ll get a rebate on part of the premium that you paid.
https://www.healthcare.gov/health-care-l...te-review/

BCBSNC financial report from 2015

Revenue $8.2 billion
Claims and Medical Expenses $6.5 billion
Medical Care Ratio 87.2 percent
Months in Reserve 3.2 months

Blue Cross maintained reserves at a prudent level. Reserves in 2015 represent 3.2 months of claims and expenses compared to 3.6 months of claims and administrative expenses the previous year. The company is required to maintain these reserves within the 3 – 6 months range set by State law.
As a fully taxed company, Blue Cross incurred $372.0 million in local, state and federal taxes and fees in 2015.

http://mediacenter.bcbsnc.com/news/blue-...all-profit
05-26-2017 07:46 AM
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MplsBison Offline
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Post: #26
RE: BCBS of NC asks for 23% increase in 2018
(05-25-2017 04:11 PM)solohawks Wrote:  I highly doubt the state could support that without charging exorbitant premiums which would put us in the same boat we are in now, people not being able to afford the insurance.

Also NC Medicaid was a financial disaster and adding more passengers to the ship would financially cripple the state.

That's why the feds would have to help fund it, but it would be a NC program run by the state and for state residents in the individual market (in addition to serving the original mission of providing healthcare for the poor and disabled).
(This post was last modified: 05-26-2017 10:05 AM by MplsBison.)
05-26-2017 10:04 AM
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solohawks Offline
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Post: #27
RE: BCBS of NC asks for 23% increase in 2018
(05-26-2017 10:04 AM)MplsBison Wrote:  
(05-25-2017 04:11 PM)solohawks Wrote:  I highly doubt the state could support that without charging exorbitant premiums which would put us in the same boat we are in now, people not being able to afford the insurance.

Also NC Medicaid was a financial disaster and adding more passengers to the ship would financially cripple the state.

That's why the feds would have to help fund it, but it would be a NC program run by the state and for state residents in the individual market (in addition to serving the original mission of providing healthcare for the poor and disabled).

Ok, that would require a new tax to pay for it

I pay about $250 a month for my family just to have medical coverage through my new employer. This does not include, copays, deductible, dental, vision, etc.

I would guess the average is much higher as the healthplan where I work is very good both in terms of pricing and benefits.

So the new tax would have to be revenue neutral for a super majority of Americans in order to avoid the chaos that is Obamacare.

do you see that as a realistic possibility?
05-26-2017 11:03 AM
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