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OhioChick

(23,218 posts)
Thu Feb 27, 2020, 05:59 AM Feb 2020

Serious Thoughts in Regard to Health Insurance Companies

I hope this scenario doesn't occur but for argument's sake, let's say that COVID-19 burns through the United States.

How are health insurers going to cover these costs? I can't see the government covering them or the hospitals taking the brunt of them.

I read somewhere (can't find the link ATM) where insurance companies could handle about 20% of insurer's bills but would likely go bankrupt if cases became more widespread with many needing critical care.

Who would handle the enormous cost of this?

I can't imagine the total bills falling on the ill or recovered, most would have to file bankruptcy, lose their homes, etc.

I do realize that many have enormous deductibles, as well. Many decline seeing a doctor when ill due to this.

Also, in regard to life insurance companies, would they go under, as well?

Just some thoughts to ponder in which I'd like to hear other's thoughts.

9 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Serious Thoughts in Regard to Health Insurance Companies (Original Post) OhioChick Feb 2020 OP
We're happy with out provider. RandySF Feb 2020 #1
Can't resist ... denem Feb 2020 #3
I guess we'll find out in a year to 18-months jimfields33 Feb 2020 #2
I posted a similar idea earlier... BigmanPigman Feb 2020 #4
Oh, I'm sorry OhioChick Feb 2020 #5
I have no feelings for the health insurance industry Sherman A1 Feb 2020 #6
Good Point n/t OhioChick Feb 2020 #7
If they face an actual cash squeeze Voltaire2 Feb 2020 #8
Indeed they will Sherman A1 Feb 2020 #9

BigmanPigman

(51,432 posts)
4. I posted a similar idea earlier...
Thu Feb 27, 2020, 06:39 AM
Feb 2020
https://www.democraticunderground.com/100213021469

I read another post about it too. People without insur or have no cash for out of pocket costs and high deductibles will be screwed. Half of Americans only have $400 cash for an emergency. That would take care of a 30 min stay in a hospital. My bill, after my $30,000 insur co. paid there portion, was $1,000 for 4 days. The fucking moron and the GOP are still trying to get rid of the ACA. Their policies are going to make even more Americans bankrupt and many killed.

OhioChick

(23,218 posts)
5. Oh, I'm sorry
Thu Feb 27, 2020, 07:12 AM
Feb 2020

I didn't see your thread or I would've brought up my thoughts on it. My apologies.

I hear exactly where you're coming from.

I'm hearing of so many people saying they couldn't afford their deductibles which I find to be quite frightening. I'm concerned about those who won't go to get assessed at a hospital/doctor due to the costs involved.

You're absolutely right on the bankruptcy issue and needless death that could be caused by insurance companies.

Sherman A1

(38,958 posts)
6. I have no feelings for the health insurance industry
Thu Feb 27, 2020, 07:21 AM
Feb 2020

They will be just fine and survive doing better than ever. They will find ways to deny claims, payouts and coverage at every turn. We will still be inundated with commercials for Medicare Advantage Plans along with big Pharma’s incessant drug advertisements. If they do possibly take a hit, employees will be laid off and the CEOs will still get huge bonuses.

Voltaire2

(12,632 posts)
8. If they face an actual cash squeeze
Thu Feb 27, 2020, 07:35 AM
Feb 2020

the government will step in and bail them out. Socialism is only for the rich.

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