The Best Health Care Fix You've Never Heard Of

[Jarqui]

42. Really?

I'm focused on private insurance which is about $1 trillion per year. If you chop 15% off that figure, it's $150 billion per year.

https://www.ehealthinsurance.com/resource-center/affordable-care-act/health-insurance-rebate

One major, yet little known, requirement of the Affordable Care Act (health care reform) was that a major medical health insurance plan be required to spend at least 80-85% of collected premium dollars on member medical care, beginning in 2011. This is the law’s so-called “medical loss ratio” rule.
Now, every year, insurers who don’t meet this medical loss ratio (MLR) requirement have to refund the difference to policyholders. Rebates are due no later than August 1.

and they have paid out:
Health Insurers Set To Give Out More Obamacare Refunds
http://www.huffingtonpost.com/2014/07/24/health-insurance-rebates_n_5614570.html

UnitedHealth
http://www.wsj.com/articles/unitedhealth-results-top-expectations-on-revenue-growth-1421839458

UnitedHealth said its medical-care ratio, a key industry metric that reflects the portion of insurance premiums used for patient care, fell to 79.8% in the fourth quarter from 81.2% a year earlier and was virtually flat from the 79.7% in the third quarter.

Anthem’s Medical Care Ratio Improves, Boosts Profit Margin
http://marketrealist.com/2015/04/anthems-medical-care-ratio-improves-boosts-profit-margin/
Anthem medical care ratio was 83.1% in 2014

Aetna medical-care ratio 83%
http://marketrealist.com/2015/03/star-ratings-increased-aetnas-government-sponsored-business-4q14/

So I'm not buying your 4% figure. These blood suckers are in this game to make serious money.

Now from that money, the insurers have to pay management mega-millions, salesmen, adjusters who screw consumers, billing staff and collectors, many lawyers, etc. A bunch of those dollars disappear with single payer because those functions are either not needed or needed substantially less or for a substantially more reasonable rate. Federal single payer becomes closer to a health provider verification and payment service who haggle deals to get better prices - no profit, much less administration and overhead. The consumer saves BIG on that.

Health insurance paperwork wastes $375 billion
http://www.cnbc.com/2015/01/13/health-insurance-paperwork-wastes-375-billion.html

The United States health-care system wastes an estimated $375 billion annually in billing and insurance-related paperwork that could be saved if the nation moved from a "multipayer" health coverage system to a "single-payer" system run by the government, a new study says.

That $375 billion doesn't cure a soul or do anything to improve medical outcomes. It's pure fat that costs each and every single American alive today about $1,179 per year or an American family of four $4,717 per year. It's stupid money down the inefficiency toilet that doesn't do nearly any one any good. It needs to go.