Could Obama run a lemonade stand?

[CuteOldGuy]

Originally Posted by Bert Jones

Or if the conservatives are fleecing the idiots and collecting big paychecks for their "work" - they call that capitalism and hard work, not flim flammery disguised as business.

Actually, you are describing "crony capitalism" or fascism. Obamacare is throwing gasoline on an already out of control fire.

The pre-ACA insurance industry was nowhere near capitalist.

[LexusLover]

The premature "roll out" of an unworkable "solution" orchestrated by Obaminable only proved ..

.. the States can do it better.

[BJerk]

Originally Posted by CuteOldGuy

Actually, you are describing "crony capitalism" or fascism. Obamacare is throwing gasoline on an already out of control fire.

The pre-ACA insurance industry was nowhere near capitalist.

That is probably a more accurate explanation, crony capitalism. The part about Obama throwing fuel on the fire is less clear to me. I understand the metaphor but disagree he is making it worse. He is trying to reign in insurance companies and their bad policies. I agree good companies and policies exist - but the good companies who want to treat their customers right are best served by a government that watches the other guys. Try playing it straight and paying your policies as promised when you competitor cheats his customers as often as he can and has a considerably lower payout ratio. Government is ideally an honest referee.

[I B Hankering]

According to Adam Smith, the role of government in capitalism is to be the watchdog and insure that business is competing fairly: it's the 'watchdog' that keeps the 'foxes' out of the henhouse. Odumbocare makes the 'watchdog' and the 'fox' one and the same.

Some notes from today's Meet the Press:

"No where in the Obamacare law does it guarantee that you can keep your insurance." Nancy Pelosi (Meet the Press, 17 November 2013).

"It's amusing to see Nancy Pelosi retreating faster than a French general." Mike Murphy: Republican strategist (Meet the Press, 17 November 2013).

[Yssup Rider]

When did you last have an original thought, IBIdiot?

Bigger question is can you get through today without frothing and fuming and making Yo mama insults? Ya gotta be tired....

[JD Barleycorn]

Actually Obama could probably make of go of it. He would pass a law that everyone has to buy his lemonade because all the other lemonade is "rotten apple" lemonade. He would hire illegals to build and run his stand. Jess Jackson and Al Sharpton would stand outside and accuse you of racism if you didn't like Obama's lemonade. Once you found out the price and refused to pay, the IRS will come and take it from your bank account anyway. Soon, your breakfast choices would have something to do with lemonade followed up by your TV watching choices. Lemonade would be discovered to be involved with everything you do. Obama would dictate when you would drink lemonade and how much.

[JD Barleycorn]

Originally Posted by Bert Jones

That is probably a more accurate explanation, crony capitalism. The part about Obama throwing fuel on the fire is less clear to me. I understand the metaphor but disagree he is making it worse. He is trying to reign in insurance companies and their bad policies. I agree good companies and policies exist - but the good companies who want to treat their customers right are best served by a government that watches the other guys. Try playing it straight and paying your policies as promised when you competitor cheats his customers as often as he can and has a considerably lower payout ratio. Government is ideally an honest referee.

The flaw is that Obama worked with the insurance companies to put this together. They got fooled into thinking that they would make billions of dollars (that includes AARP). He used them like a condom. He is not trying to rein in insurance, he is trying to put them out of business or make them a part of government. Government is NOT an honest referee. Not in it's current form with lobbyists crawling out the ass of almost every politician.

[CJ7]

Originally Posted by JD Barleycorn

The flaw is that Obama worked with the insurance companies to put this together. They got fooled into thinking that they would make billions of dollars (that includes AARP). He used them like a condom. He is not trying to rein in insurance, he is trying to put them out of business or make them a part of government. Government is NOT an honest referee. Not in it's current form with lobbyists crawling out the ass of almost every politician.

if holding them accountable is putting them out of business, they need to go out of business ...


The 80/20 Rule generally requires insurance companies to spend at least 80% of the money they take in on premiums on your health care and quality improvement activities instead of administrative, overhead, and marketing costs.
The 80/20 rule is sometimes known as Medical Loss Ratio, or MLR. If an insurance company uses 80 cents out of every premium dollar to pay for your medical claims and activities that improve the quality of care, the company has a Medical Loss Ratio of 80%.
Insurance companies selling to large groups (usually more than 50 employees) must spend at least 85% of premiums on care and quality improvement.
If your insurance company doesn’t meet these requirements, you’ll get a rebate from your premiums.


so naturally the ins companies bitch .. they cant spend your $$ on executive bonuses

[JD Barleycorn]

Good ole CJ: blame Bush, blame big oil, blame big business, blame Bush (that never gets old), blame big pharma, blame big insurance, blame Bush again, but never, never, NEVER blame government.

[i'va biggen]

Bush was the government idiot.

[CJ7]

Originally Posted by JD Barleycorn

Good ole CJ: blame Bush, blame big oil, blame big business, blame Bush (that never gets old), blame big pharma, blame big insurance, blame Bush again, but never, never, NEVER blame government.

even though I didn't blame Bush ... good idea

[bambino]

Originally Posted by CJ7

if holding them accountable is putting them out of business, they need to go out of business ...


The 80/20 Rule generally requires insurance companies to spend at least 80% of the money they take in on premiums on your health care and quality improvement activities instead of administrative, overhead, and marketing costs.
The 80/20 rule is sometimes known as Medical Loss Ratio, or MLR. If an insurance company uses 80 cents out of every premium dollar to pay for your medical claims and activities that improve the quality of care, the company has a Medical Loss Ratio of 80%.
Insurance companies selling to large groups (usually more than 50 employees) must spend at least 85% of premiums on care and quality improvement.
If your insurance company doesn’t meet these requirements, you’ll get a rebate from your premiums.


so naturally the ins companies bitch .. they cant spend your $$ on executive bonuses

Accountable? Now that's funny. When does Obama take accountability for anything? Look, our HC system needs reformed. ACA is just very bad policy.

[Misawahawk]

Originally Posted by CJ7

if holding them accountable is putting them out of business, they need to go out of business ...


The 80/20 Rule generally requires insurance companies to spend at least 80% of the money they take in on premiums on your health care and quality improvement activities instead of administrative, overhead, and marketing costs.
The 80/20 rule is sometimes known as Medical Loss Ratio, or MLR. If an insurance company uses 80 cents out of every premium dollar to pay for your medical claims and activities that improve the quality of care, the company has a Medical Loss Ratio of 80%.
Insurance companies selling to large groups (usually more than 50 employees) must spend at least 85% of premiums on care and quality improvement.
If your insurance company doesn’t meet these requirements, you’ll get a rebate from your premiums.


so naturally the ins companies bitch .. they cant spend your $$ on executive bonuses

Very informative info

[LexusLover]

Originally Posted by Misawahawk

Very informative info

Lower bonuses, higher commissions.

Do you really think these dumbos in office are going to shut down the insurance companies in this country .... they have passed out too many "exemptions" well over 2500 by now.Even with the anticipated loss of coverage next year of another 50 million policy holders there will still be roughly 250 million people with coverage. The IRS is geared to tromp on the little guys who can't fight the IRS in court. The insurance companies will take off the gloves when the IRS starts auditing them and trying to dink them for their failure to ....

.......... abide by any 80/20 rule and regs. There aren't enough courtrooms to carry the load.

The increased litigation expenses (cost of doing business) will get passed on in the premiums.

[WTF]

Originally Posted by I B Hankering

According to Adam Smith, the role of government in capitalism is to be the watchdog and insure that business is competing fairly: ).

That is the role, the rub is gaining control of government. That has always been the battle. COG, LL and gnadfly have trouble with that huge fact.

Right now we are all talking about Obamacare while the Fed is pumping up the stock market. Which one will bite us in the ass first? My guess is it won't be Obamacre.