Skip to main content

View Diary: Senate HELP Committee Passes Health Reform Bill (246 comments)

Comment Preferences

  •  I think you're misreading the bill (1+ / 0-)
    Recommended by:
    bfitzinAR

    If QualChoice is not a qualifying plan then you are free to use the public option unless they upgrade their benefits.

    If your employer does not sufficiently subsidize your purchase of a plan, then they will be taxed.

    Numbers are like people . . . Torture them enough and they'll tell you anything.

    by Actuary4Change on Thu Jul 16, 2009 at 06:22:04 AM PDT

    [ Parent ]

    •  It looks like the plan has to cost (1+ / 0-)
      Recommended by:
      Schwede

      the employee more than 12.5% of annual income before access to the option.  Cost wasn't truly defined, but if you add the premium to the deductible and estimate a whole lot more medical than I do a year (heck, the deductible without the premium is more medical than I do a year) - say 25% copay on $6K - then you'd reach about 12.5% of my annual salary.  The secretary would only need about 25% copay on $4K, but the professors...

      •  It's not just 12.5% of income (1+ / 0-)
        Recommended by:
        bfitzinAR

        The plan has to cover certain specified benefits, and it didn't sound to me like your plan met the test.

        Numbers are like people . . . Torture them enough and they'll tell you anything.

        by Actuary4Change on Thu Jul 16, 2009 at 07:45:41 AM PDT

        [ Parent ]

        •  I hope you're right - (0+ / 0-)

          I have no problem with doing a few years early what my Medicare Part B will cost me when I get there - just under $100/month, $135 deductible, and 20% copay - but I have a very big problem with anything at all going to a corporate CEO.

          •  Lots of your money goes to lots of CEO's (1+ / 0-)
            Recommended by:
            bfitzinAR

            I think they're all grossly overpaid.

            The fraction of your health insurance premium that goes to the gross exec salaries is too small to worry about.  (Maybe 0.1% at most)

            Let's get Health Care, and then worry about taxing excessive executive compensation across the board.

            Numbers are like people . . . Torture them enough and they'll tell you anything.

            by Actuary4Change on Thu Jul 16, 2009 at 01:55:19 PM PDT

            [ Parent ]

            •  OK - let's say I have a problem (0+ / 0-)

              with the 30-35% of private healthcare money that goes to "administrative costs" over the 3% Medicare needs for administrative costs.  SOMEBODY is getting that other 27-32% and it's not going toward anything that benefits my health, physical or financial.

              •  Where it goes (1+ / 0-)
                Recommended by:
                bfitzinAR

                First of all, the apples to apples difference between Medicare and Private insurance is about 15%.  The 35% figure that gets thrown around is for small group and individual private policies.  For large group, it is closer to 10-12%.  On average, 20% is probably good.

                Also, the 3% for Medicare is too low.  It does not account for costs that are picked up in other parts of the federal budget that private companies need to account to.  A better figure is close to 5%.

                So I use a difference of 15% between Medicare and Private insurance.  About 1/3 is profit, 1/3 is inefficiencies of scale, and 1/3 is marketing costs.

                With Single payer we could get all of this.  With the current proposals, the public option will save the profit and some of the marketing costs.

                Numbers are like people . . . Torture them enough and they'll tell you anything.

                by Actuary4Change on Fri Jul 17, 2009 at 10:25:01 AM PDT

                [ Parent ]

                •  But only if we get a good public option - (0+ / 0-)

                  one that's available to everybody and basically creates - and uses the "efficiences of scale" - the largest group insurance pool in the country.  And of course I'd prefer single payer, but we're not going to get it right now.  I'm still betting that good ol' market forces would give us single payer within 10 years if we can just get tht good public option.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site