An observation on health insurance - The Best Damn Message Board in the Land - GENERAL DISCUSSION FORUMS - BUCKHEADS - Message Board - Yuku

RSS
Email

0 Kudo

<< Previous Topic Next Topic >>

An observation on health insurance

Author	Comment
Fulltimenut	An observation on health insurance	Lead	[-]
Buckhead Posts: 1175 (07/03/09 9:22 PM) Buckhead Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	Tags : None I'm not trying to intentionally pick on a big subject - something piqued my interest. I've been paying about $500 a month for a family major medical policy that doesn't really cover much and am looking for an employee spot for me or my wife so we can get decent coverage. Plus, I've been reading lately about the large percentage of personal bankruptcies that are due to medical issues. Some things tell me we have a great system in this country; you don't have to wait too long to get care, for example. Other things make it appear like things are out of control. I don't know how we can have so much "managed care" and still have spiraling costs. I don't see a doctor for more than five minutes. I see a nurse or a P.A. with a pop-in from the doctor, yet I know these people are badly overworked. Health care has been an issue for years. Anyways, the thing I thought was interesting was I looked up the cost of a hip replacement for a dog nad a person, just to see the difference. Physically and medically, it should be similar but I don't really know. The average cost for a dog is about $3500.00. For a human its almost $40,000.00. I'd like to know if there are any good reasons why it's more than ten times the cost for a person or if it's basically what the market will bear.
Northeastbuck		#1	[-]
Buckhead Posts: 688 (07/03/09 9:59 PM) Buckhead Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	I suspect the major difference is liability. I know several doctors and they all pay more in malpractice insurance than most of us earn - an anesthesiologist friend who is on the verge of retirement and has never been sued paid over $100,000 a couple years back, just on the off chance that he gets sued. I think any meaningful healthcare reform will have to include some form of limitations on damages.
BuckeyeTillEyeDie		#2	[-]
Buckhead Posts: 9660 (07/03/09 10:34 PM) Elitist Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	waiting is a myth... What I do today is important because I am paying a day of my life for it. What I accomplish must be worthwhile because the price is high. The best Head on the NET!!!
osuteke		#3	[-]
Buckhead Posts: 7296 (07/04/09 12:12 AM) Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	I'm about 300k deep, even with insurance. I have to declare bankrupcy even with everything. Well I already did, I'm a hot commodity.
enonbuck8		#4	[-]
Buckhead Posts: 2745 (07/04/09 1:35 AM) Snipe Hunter Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	Anyways, the thing I thought was interesting was I looked up the cost of a hip replacement for a dog nad a person, just to see the difference. Physically and medically, it should be similar but I don't really know. The average cost for a dog is about $3500.00. For a human its almost $40,000.00. I'd like to know if there are any good reasons why it's more than ten times the cost for a person or if it's basically what the market will bear. Dogs are easier to put down than people.
18thAveBuck		#5	[-]
Buckhead Posts: 647 (07/04/09 8:03 AM) Buckhead Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	The liability issue is a big myth. 70% of all malpractice claims are won by the doctors, most way before trial. Even then, only a small portion of claims are really worth much money. When you hear insurance companies say the average payout on a claim is X, X is based only on certain claims that are unusual (read: high payout) and reported to the people who track such things. A friend of mine in law school (whose wife is a doctor) wrote a law review article on it. Regarding the bankruptcy issue, I know a guy whose firm does over 1000 bankruptcies a year; he tells me the vast majority are due to medical bills. So, I think it is a combination of things which make health care expensive: what the market will pay + research and development of new technologies, procedures, and drugs + doctors knowing they will never get paid for a certain portion of the bills + insurance companies unnecessarily gouging their policy holders + a closed market (limited, specialized people doing a job that no one else can) + the expense of becoming a doctor and running an office = high medical bills, but the best health care in the world.
PCBuckeye		#6	[-]
Buckhead Posts: 2746 (07/04/09 10:54 AM) Buckhead Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	Not arguing 18th, but why has malpractice insurance gone up so much. Good friend of mine retired because of it from OSU. ENT surgeon.
Hang on Buckeye Girl		#7	[-]
Buckhead Posts: 3332 (07/04/09 11:16 AM) Buckhead Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	PCBuckeye wrote: Not arguing 18th, but why has malpractice insurance gone up so much. Good friend of mine retired because of it from OSU. ENT surgeon. Why has insurance on just about everything gone up so much? If people are forced to buy it then the companies can charge whatever price they would like.
18thAveBuck		#8	[-]
Buckhead Posts: 647 (07/04/09 11:31 AM) Buckhead Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	Pretty much what HOBG said. Insurance companies are making incredible profits, and are stingier than ever in paying claims. One of my friends has a small car accident case -- $2500 in med bills, 750 in prescriptions. The insurance company is admitting liability, but will only pay $2000 total. This has been going on for almost 2 years...the statute of limitations for him to file suit is a month away, so he will have to go to court to get them to pay a nominal amount. The insurance companies don't care -- many of them have gone almost solely to in-house attorneys, so it does not cost them a dime more in prolonging a case. State Farm and Allstate, from everything I hear, are by farm the worst companies for claimants to deal with. My father spent most of his career dealing with insurance companies, and now that he is retired has a standard thing when he goes to the hospital. He tells them, in 100% seriousness, that if anything happens to him maintain him in a persistent vegitative state until the insurance companies refuse to pay another dollar.

<< Previous Topic Next Topic >>

Quick Reply