
Health insurers to investors: We’re good. Health insurers to lawmakers: Help - hhs
https://www.propublica.org/article/health-insurers-to-investors-were-good-health-insurers-to-lawmakers-please-help
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whatshisface
It's less contradictory you read it as it's best read:

Health insurers to investors: it's safe to give us money. Health insurers to
lawmakers: it's not safe to not give us money.

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ashtonkem
Every company will say whatever it takes to get more money out of everyone.
It’s up to everyone else to separate truth from bluster.

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Engineer2Throw
Expensive and routine care has been cancelled but people are still paying for
health insurance.

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throwyes
You’re 100% correct. I just received a check from my auto insurance due to
covid and the decreased risk of accidents. Will I receive a check from my
health insurance since I am unable to receive routine care? Why should I be
paying for a service I cannot use?

My wife’s grandfather was scheduled for bladder surgery. They canceled it
indefinitely. We do not live in a big metropolis and our hospitals aren’t
crowded (I drive by daily). He’s in the most pain he’s ever been in and all
they want to do is up the pain killers. It’s completely fucked.

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rbultje
The affordable care act specifies that 80% of premiums must be spent on
medical expenses. If not, the consumer gets a rebate at the end of the year.

See e.g. [https://www.investopedia.com/terms/m/medical-cost-
ratio.asp](https://www.investopedia.com/terms/m/medical-cost-ratio.asp)

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odysseus
Note that this rule doesn't apply to the very large employers that self-
insure.

Refer to:
[https://fas.org/sgp/crs/misc/R42735.pdf](https://fas.org/sgp/crs/misc/R42735.pdf)

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coverage1
Cigna spoke to its investors specifically about its various books of business
with regards to coronavirus and COVID19 for 2020. A significant part of
Cigna's business is as an administrator for self-insured companies meaning
they don't bear financial risk for specific healthcare costs. This aspect of
their business, along with the fact that the expected costs associated with a
mild COVID19 outlook for their insurance markets contributed to their
optimistic financial outlook over a month ago. This was a view shared by many
large plans at the time.

Since the emergence of social policies designed to curb community spread over
the past 6-8 weeks, economic conditions for their customers and members have
deteriorated. A large percentage of these groups are considering member
disenrollment or group termination. Public support of these groups to help
ensure healthcare access is a good thing and the AHIP letter that Cigna
supports advocates for this position.

As an aside, the social policies currently in place are crushing the business
models of hospitals and medical offices. It's devasting financially, but
largely seen as temporary until shelter-in-place requirements are lifted. The
ensuing economic depression will hurt the majority of business sectors, which
in turn will negatively affect health insurers financially later this year and
next year.

For the time being, insurers are financially benefitting from lower medical
loss, but this will likely be balanced out in the near future as pent-up
medical demand returns. The long-term financial future of insurers will depend
on how well people can predict COVID19 costs vs. actual utilization.

source: I help manage a community health plan

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bawana
It’s not just insurers maximizing profits. My patient volume is down 50% but
the hospital who rents me my office is not giving any break on the rent.
Neither is my malpractice insurance nor any other vendor.

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Holmes
See anyone trying to get a loan vs anyone paying taxes. Duh!

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throwaway4220
Sliver lining: at least there is a place where lies/misinformation/propaganda
doesn't fly in the US: the SEC.

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teh_infallible
I think you forgot the /s. The SEC is hopelessly corrupt.

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toomuchtodo
Citation?

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cjbenedikt
Madoff case...

