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bpuharic

On Fri, 26 Mar 2010 00:18:54 -0400, wrote:

On Thu, 25 Mar 2010 18:58:14 -0400, bpuharic wrote:

This is no big secret, they are publicly traded companies.
The profit margin for insurance companies is in the 3-4% range. That
is far less than the fraud and abuse rate in government programs.
It is also lower that the medical conglomerates and pharmaceutical
companies that just got a huge stimulus.

and 30% of their revenue is for administrative costs

vs less than 10% for govt programs

Medicare has a 20-25% fraud and waste rate so that is a bogus
comparison. The lack of "administration" means they can't really
investigate the claims.

and private health insurance is the same. they just bill health
insurance companies for what the uninsured cant pay