Greatly appreciate the dive into MedPac's report. Advantage, or Disadvantage as I like to call it, operates as another means of, let's call it what it is, theft of taxpayer money once again by, surprise surprise, the for-profit insurance industry inserting itself between patients and health care professionals. They only subtract value, add nothing. There would indeed be huge cost savings if that industry were ejected from our health care system entirely. The odds of that happening? In my view somewhere near zero. Why? Because the people voting to make such a change are themselves getting PAID by the insurance industry. Would love to see you take a look at money flowing to Congress from the for-profit insurance industry.
I agree. And well overpaid for what they provide in care. I have not looked at MedPac this year (if it is out). I was some $80 billion last year. And then they cast you off once you use more services and care.
I haven’t looked at the “medical loss ratio” in Madvantage, but in commercial health insurance via ACA it’s 15 to 20%. I would love to have had a 20% guaranteed by law margin as a small business person in behavioral health.
Off topic to your commentary. We are on Traditional with a Supplemental Plan N. Normally United Healthcare has increased its premium for Plan N at a reasonable percentage. This year it is a 24% jump. Any idea on what is occurring here or industry wide?
Excellent, appreciate the comment, didn’t know that number in Madvantage. Where do I go to get a 15% margin by law over my expenses as a small behavioral healthcare business :-) Also, don’t they fudge considerably in what’s included in expenses and “improvements”?
Greatly appreciate the dive into MedPac's report. Advantage, or Disadvantage as I like to call it, operates as another means of, let's call it what it is, theft of taxpayer money once again by, surprise surprise, the for-profit insurance industry inserting itself between patients and health care professionals. They only subtract value, add nothing. There would indeed be huge cost savings if that industry were ejected from our health care system entirely. The odds of that happening? In my view somewhere near zero. Why? Because the people voting to make such a change are themselves getting PAID by the insurance industry. Would love to see you take a look at money flowing to Congress from the for-profit insurance industry.
I agree. And well overpaid for what they provide in care. I have not looked at MedPac this year (if it is out). I was some $80 billion last year. And then they cast you off once you use more services and care.
No, but we are in the same situation, my wife and I.
I haven’t looked at the “medical loss ratio” in Madvantage, but in commercial health insurance via ACA it’s 15 to 20%. I would love to have had a 20% guaranteed by law margin as a small business person in behavioral health.
The Medical Loss Ratio is usually identified by what percentage of premiums has to go to claims (or expenditures to improve healthcare quality). In Medicare Advantage plans, it's 85%, as in commercial plans. https://www.brookings.edu/articles/profits-medical-loss-ratios-and-the-ownership-structure-of-medicare-advantage-plans/
Andrew:
Off topic to your commentary. We are on Traditional with a Supplemental Plan N. Normally United Healthcare has increased its premium for Plan N at a reasonable percentage. This year it is a 24% jump. Any idea on what is occurring here or industry wide?
Excellent, appreciate the comment, didn’t know that number in Madvantage. Where do I go to get a 15% margin by law over my expenses as a small behavioral healthcare business :-) Also, don’t they fudge considerably in what’s included in expenses and “improvements”?