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Thread: Why Is Healthcare Insurance So High?

  1. #41
    Veteran Member bajisima's Avatar
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    Quote Originally Posted by HayJenn View Post
    Yes I do know that. I guess you didn't bother to read my entire post?

    Just like smoking and drinking are.

    My point is that you could create incentives so 2/3rds of the population would choose to have healthier lifestyles.

    It would really help in bringing costs down.

    I have read before where 5- 10% of the population is responsible for over 50% of the health care costs.
    Two things stand out for me. First is the rest of the world smokes far more than we do. In Europe its everywhere. They don't seem to share our views on that with us. Secondly, the US is fat because we spend too much time working and sitting at desks. The rest of the world has more vacations, live close to work and walks everywhere. Even when I visit friends in Canada, they walk everywhere and they go to local bakeries, butchers, farms etc almost daily. All their food is fresh and cooked each day. They don't spend their money at McDonalds, drive thru or buying pre-packaged food. I guess its a different mindset.
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  2. #42
    Council Member Djinn's Avatar
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    Here's what's going on:

    Hospitals use a Chargemaster* to assign arbitrary, ridiculously inflated prices to various common medical objects. That’s why a $20 neck brace costs $154, or an IV bag that should cost pennies can run for $137.

    Why are the costs inflated? Because insurance companies demand massive discounts from hospitals for sending thousands of patients their way. Hospitals still need to make a profit, so they inflate their prices and give insurance companies a discount off the inflated figures.

    Even insured Americans aren’t always safe from these prices. If you go to a hospital, see a doctor, or use equipment that’s “out of network,” you still absorb the full cost of your care—and every hospital has its own Chargemaster to rip patients off as they see fit.

    https://www.dailydot.com/upstream/ad...als-expensive/

    * a list detailing the official rate charged by a hospital for individual procedures, services, and goods.
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  3. #43
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    Quote Originally Posted by Djinn View Post
    Here's what's going on:

    Hospitals use a Chargemaster* to assign arbitrary, ridiculously inflated prices to various common medical objects. That’s why a $20 neck brace costs $154, or an IV bag that should cost pennies can run for $137.

    Why are the costs inflated? Because insurance companies demand massive discounts from hospitals for sending thousands of patients their way. Hospitals still need to make a profit, so they inflate their prices and give insurance companies a discount off the inflated figures.

    Even insured Americans aren’t always safe from these prices. If you go to a hospital, see a doctor, or use equipment that’s “out of network,” you still absorb the full cost of your care—and every hospital has its own Chargemaster to rip patients off as they see fit.

    https://www.dailydot.com/upstream/ad...als-expensive/

    * a list detailing the official rate charged by a hospital for individual procedures, services, and goods.
    My local hospital offered a 50% discount to those without insurance who paid their entire bill promptly. Kind of makes me think prices are greatly inflated. That would account for our medical expenditures, per capita, being way out of line when compared to our peers around the world.

    My guess is that the market is so distorted by insurance company deal makers, no one knows what the real price of health care is in the us.
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  4. #44
    Veteran Member TNVolunteer73's Avatar
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    Quote Originally Posted by labrea View Post
    My local hospital offered a 50% discount to those without insurance who paid their entire bill promptly. Kind of makes me think prices are greatly inflated. That would account for our medical expenditures, per capita, being way out of line when compared to our peers around the world.

    My guess is that the market is so distorted by insurance company deal makers, no one knows what the real price of health care is in the us.
    that is nothing new.. My Daughter paid for their child in Knoxville the bill was 22,000 she said what if we pay cash today... (she has an HSA for a couple of decades) they say 6,100.

    If you prepay or self pay in full. So explain to me why Medicare sets market prices so high.

  5. #45
    ~Standing My Ground~ Sassy's Avatar
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    30% of all Medicare expenditures are attributed to the 5% of beneficiaries that die each year, with 1/3 of that cost occurring in the last month of life
    https://www.forbes.com/sites/michael.../#5501624528d7

  6. #46
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    Quote Originally Posted by TNVolunteer73 View Post
    that is nothing new.. My Daughter paid for their child in Knoxville the bill was 22,000 she said what if we pay cash today... (she has an HSA for a couple of decades) they say 6,100.

    If you prepay or self pay in full. So explain to me why Medicare sets market prices so high.
    What makes you think Medicare sets prices high?

  7. #47
    ~Standing My Ground~ Sassy's Avatar
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    Quote Originally Posted by HayJenn View Post
    Yes I do know that. I guess you didn't bother to read my entire post?

    Just like smoking and drinking are.

    My point is that you could create incentives so 2/3rds of the population would choose to have healthier lifestyles.

    It would really help in bringing costs down.

    I have read before where 5- 10% of the population is responsible for over 50% of the health care costs.
    Not for the reasons you are implying.

    Why 5% of Patients Create 50% of Health Care Costs:

    These patients tend to be newborns with serious issues and the elderly, who are often quite ill. According to one study (Banarto, McClellan, Kagy and Garber, 2004), 30% of all Medicare expenditures are attributed to the 5% of beneficiaries that die each year, with 1/3 of that cost occurring in the last month of life. I know there are other studies out there that say slightly different things, but the reality is simple: we spend an incredible amount of money on that last year and month.

    We'd need death panels to solve that. Would be nice if curing obesity and smoking was the answer to high costs, but it isn't so.

    https://www.forbes.com/sites/michael.../#37b0136528d7
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  8. #48
    Member Claudius the God's Avatar
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    I think you got a lot of it but at the very bottom of this list is one single desire: to make as much money as one can helping the sick get better or preventing the healthy from becoming sick. Profit up and down the entire chain is the reason we pay so much, no one really can control the acceptable levels of profit so the food chain gets hungrier and hungrier every year.

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