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Why insurance company's denial of care is about to get much worse

DCblogger's picture

Aetna Posts Loss of $326.5 Million on Debt Securities in ‘08

At least Aetna has company–everybody in the sector seems to have been stung by the crisis, from Humana’s investment losses to UnitedHealth’s write-down on its venture capital program.

Obviously these were not appropriate investments for health insurance companies. Combine this with a collapsing premium base as more and more people are layed off, and more and more employers ceasing to offer health insurance, and you have an imploding business model.

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koshembos's picture
Submitted by koshembos on

The health insurance companies will have to cover their CEO asses with a much smaller hide. The CEO and assortment management are Godly deserving of the huge compensation they have gotten for years.

Another perspective may be the deteriorating business model of the private health insurance for years to come would make universal health care easier to enact. All we need is Obama's consent (not obvious).

Submitted by hipparchia on

instead of single payer.

with the repeal of glass-steagall, the insurance companies, stockbrokers, investment banks, and commercial banks [the banks that ordinary people use] all became one interwoven industry.

we should be breaking them all back up into their own little boxes by re-instituting glass-steagall [and a few other regulatory mechanisms that the reaganites dismantled]. instead, this administration is going to make us prop up all the corners of the existing frankenfinance monster: barf tarp for the banks, healthcare reform for the insurance companies, and automatic workplace pensions for the stock market. i'm sure there's more in the pipeline that we have yet to find out about.

oh, and it was really ww2 that ended the great depression; afghanistan, here we come!

Submitted by lambert on

Every one of these parasites collects a little bit of rent on each transation. It's exactly like charging the unemployed three bucks a pop to collect their own unemployment insurance.

How soon, I wonder, before the data mining component of Obama's warrantless surveilance program is privatized and applied to collections?

Well called,Hipparchia. I think there's a Grand Unified Theory in the making, although in this case, Newberry thought of it first.

This would be why, I would imagine, looting SS is first on the list. Getting their hands on that money is the requirement for what is to follow.

Submitted by hipparchia on

as stirling newberry's rise of rove's republic indicates. and was this the original you meant?

as for the data mining, i think you've got it backwards. it's pretty well advanced in the private sector already, including collections [i once had a real treasure trove of links on this, but lost them in a computer crash]. i expect the govt to nationalize it at some point in the future, but probably only after they've transferred a lot more of our tax $$$ to military contractors for a[nother] failed version[s] of tia.

as for grand unified theories [guts!], yep, my thinking on this has been influenced in part by stirling's writing.