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Thread: How much profit do Health Insurance Companies make on the policies they sell?

  1. #81
    Join Date
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    Default Re: How much profit do Health Insurance Companies make on the policies they sell?

    Quote Originally Posted by chassisman View Post
    The only problem I have with health insurance is my inability to purchase it across state lines. Private companies are entitled to whatever profit the market will bear, doing away with the state line restriction will make the market more competitive, but as far as I know Obama's wonderful ACA doesn't make the change, does it?
    No, it does not.

    But all is not lost.

    I haven't kept up with it so do not at this time know the disposition of it, but as recently as the last Congress (possibly before the mid-terms last year), there was a significant effort in DC to craft legislation creating (for lack of a better term) a "federal" licensing structure for insurers.

    Currently, as you might guess or already know, an insurer and each of their sales agents and brokers, have to be licensed, by line of insurance, and by each state in which they want to do business: That means if a large insurer like Allstate or Farmers or something wants to sell in Arizona, New Mexico, California, and Texas, they have to get a license for each of those states and each of those four licenses have to stipulate which lines they can sell (P&C, Life, Health, etc.).

    With a national licensing structure, you could conceivably go online in Maine and buy the best deal you found in Louisianna.

    Needless to say, I do agree with your urgency over abolishing the state-line exclusions. I also understand (anecdotally, though) that Obama also favors a national licensing deal because he doesn't want his health care initiative to have to jump through 50 hoops (like it is doing now).

  2. #82
    Join Date
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    Galway, Ireland
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    Default Re: How much profit do Health Insurance Companies make on the policies they sell?

    Quote Originally Posted by Good1 View Post
    No, it does not.

    But all is not lost.

    I haven't kept up with it so do not at this time know the disposition of it, but as recently as the last Congress (possibly before the mid-terms last year), there was a significant effort in DC to craft legislation creating (for lack of a better term) a "federal" licensing structure for insurers.

    Currently, as you might guess or already know, an insurer and each of their sales agents and brokers, have to be licensed, by line of insurance, and by each state in which they want to do business: That means if a large insurer like Allstate or Farmers or something wants to sell in Arizona, New Mexico, California, and Texas, they have to get a license for each of those states and each of those four licenses have to stipulate which lines they can sell (P&C, Life, Health, etc.).

    With a national licensing structure, you could conceivably go online in Maine and buy the best deal you found in Louisianna.

    Needless to say, I do agree with your urgency over abolishing the state-line exclusions. I also understand (anecdotally, though) that Obama also favors a national licensing deal because he doesn't want his health care initiative to have to jump through 50 hoops (like it is doing now).
    Ezra Klein - Selling insurance across state lines: A terrible, no good, very bad health-care idea

    By the way isn't commerce across state lines need to be federally regulated... If states want to opt out they can...


    Work through this List item by item... http://www.cahi.org/cahi_contents/re...ndates2008.pdf

    Give it to Surgeon general for review and comment.. With the possibility of heavilly recommending certain ways to vote....

    Simple solution bring a state representive into a room... They can vote by law or with good reason change it by there law...

    Eventually you get a single mandated solution... All states can voluntarily sign up to it when finished...

    Federal law will state the insurance is actually bought in the state where the customer resides... Here is your market... Close enough might missed a few things but this is how the Euro was done in Europe...

    Annually later, the signed up members come back and can change the mandates to suit... New members have to conform with the overall group... Can't change the club you want to join...

  3. #83
    C-B-M is offline Joint Chiefs of Staff Member
    Join Date
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    Default Re: How much profit do Health Insurance Companies make on the policies they sell?

    Quote Originally Posted by CowboyTed View Post
    But the reason that works in Ireland is because we have a public universal health system.
    I know. That's my point.

    See, I asked you what the point of multiple companies is in the setting of a regulated, public, universal health system. The correct answer is "there is no point." It's basically a fabrication so that the Irish people can still think there's a choice.
    Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill. Pass this bill.

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