Even More Obamacare Follies

[Carl Pickens]

Louisville, Ky.-based Humana reported net income of $430 million for the first quarter of fiscal year 2015, up $62 million from the comparable period of 2014.

Did it say what premim volume it was based on? I'm not denying they make profits. I'm just saying their margin isn't as grotesque as its commonly referred to by the media and proponents of obamacare.

When the market is good and investment income is up they obviously have a larger spread, but when the market is flat they can actually lose money.

 

[Carl Pickens]

I feel badly for ya, CP. I wish I could tell you it's gonna get better. But...it isn't and we all know it.

Well, the eternal optimist in me hopes that enough people get screwed hard enough to wake up, but the realist in me realizes that the general public is too ignorant to see what's actually going on.

 

[Gramps]

Well, the eternal optimist in me hopes that enough people get screwed hard enough to wake up, but the realist in me realizes that the general public is too ignorant to see what's actually going on.

CP, you keep defending the health insurance companies as if they despise the ACA, they are not making money due to it. IIRC, Heath Insurance Executives were heavily involved in crafting the bill. I believe it has been said the bill is the product of insurance companies.

 

[Carl Pickens]

CP, you keep defending the health insurance companies as if they despise the ACA, they are not making money due to it. IIRC, Heath Insurance Executives were heavily involved in crafting the bill. I believe it has been said the bill is the product of insurance companies.

If stating facts is defending them then so be it. I'm only trying to point out how they were butchered by the politicians and media in order to get support for the bill.

 

[lawgator1]

I'll admit a lot of fixes need to be considered if you'll admit that the GOP will not do anything prior to next November because they don't want to be seen as doing anything in league with Obama. See e.g. The Christie Effect.

 

[Ernest T. Vol]

I'll admit a lot of fixes need to be considered if you'll admit that the GOP will not do anything prior to next November because they don't want to be seen as doing anything in league with Obama. See e.g. The Christie Effect.

Not one GOP vote is responsible for this mess. The GOP and people all over the nation stood up in opposition but O and the left wouldn't listen. They governed against the will of the people. Now, you are trying to deflect blame onto the GOP for not going along "in league" with some halfass fix? NO. But, I'm sure they would be in league with the ultimate fix of complete repeal.

 

[Jxn Vol]

This is classic. The government royally screws something up and then wants the opportunity to fix it. This is an absolute mess.

 

[Gramps]

If stating facts is defending them then so be it. I'm only trying to point out how they were butchered by the politicians and media in order to get support for the bill.

FACTS, my azz.

How were the insurance companies butchered by the politicians and media in order to get support for the bill WHEN major health insurance executives were heavily involved in writing the law?

The insurance companies being so heavily involved in crafting the ACA was one of the big criticisms of the bill. Obama allowed the wolf in the hen house to be in charge of rebuilding the hen house to make it a better hen house.


It doesn't matter if one is pro or con concerning the ACA. Don't act like the insurance companies are victims and having to raise their premiums due to the ACA when they wrote the darn bill.
Did ya ever think increasing revenue was one of the goals of the insurance executives who were part of the architects of the bill ?

 

[theFallGuy]

FACTS, my azz.

How were the insurance companies butchered by the politicians and media in order to get support for the bill WHEN major health insurance executives were heavily involved in writing the law?


It doesn't matter if one is pro or con concerning the ACA. Don't act like the insurance companies are victims and having to raise their premiums due to the ACA when they wrote the darn bill.

Robert Creamer and Gruber.

 

[volinbham]

I'll admit a lot of fixes need to be considered if you'll admit that the GOP will not do anything prior to next November because they don't want to be seen as doing anything in league with Obama. See e.g. The Christie Effect.

Why put bandaids on crap policy as opposed to having a chance to transform it into something better?

I'll admit that Rs probably can't come to agreement on a better plan but suggesting they should participate in fixes to this steaming pile is ridiculous.

Any politician with real concerns about serving the public would be actively trying to scrap this and put something workable in it's place.

Dems standing by this are unwilling to admit they screwed the pooch by supporting this and selling their souls to pass it. If you want to complain about politicians why not share the love to all the POS players that wrought this?

 

[SpaceCoastVol]

Would your company have survived on 7.9% profits?

Mine wouldn't have....

Profits are evil

 

[SpaceCoastVol]

Yes it would and did several years.
It is about the volume ob.

Volume? Not necessarily.

 

[volinbham]

FACTS, my azz.

How were the insurance companies butchered by the politicians and media in order to get support for the bill WHEN major health insurance executives were heavily involved in writing the law?

The insurance companies being so heavily involved in crafting the ACA was one of the big criticisms of the bill. Obama allowed the wolf in the hen house to be in charge of rebuilding the hen house to make it a better hen house.


It doesn't matter if one is pro or con concerning the ACA. Don't act like the insurance companies are victims and having to raise their premiums due to the ACA when they wrote the darn bill.
Did ya ever think increasing revenue was one of the goals of the insurance executives who were part of the architects of the bill ?

I agree - Insurance companies and pharma companies signed on. For some reason the device companies got left out but now their buddies (ala Al Franken - who happens to be a senator from a state with many big device manufacturers and who pushed this bill through) are fighting to repeal the device tax.

Add to that, all those Big Labor supporters are trying to repeal the Cadillac tax.

In the end this bill that will not raise the deficit by one dime is significantly under revenue and significantly over cost (who didn't see that coming).

Likewise, even the architects of the bill are actively trying to dismantle the items that supposedly "paid" for it.

Disaster.

The only honest supporter has been Gruber and he didn't intend to be.

 

[volinbham]

Math is math.

It doesn't add up.

No business model allows for a 7.9% profit

The more money you make, the more you spend.

I can see those numbers year(s) 3-5 but not a established business gramps.

I ran a business for 22 years that netted 10% or less every year in business. I sold it in 1997 for a fair chunk of change. I like you and normally agree with your post Ob but to say a business cannot be successful on < 10% profit is ridiculous.

Seems like there are different definitions of profit margin going on in this thread.

I consider profit margin the way Gramps is suggesting - Net after all expenses paid.

At some points in this thread it sounds more like Gross Profit or Gross Margin. Money left over after direct costs are paid to cover other operating expenses and yield net profit.

Most industries have net profit margins in single digits. Even service companies with giant gross margins end up with net profits in the single digits or low double digits.

 

[SpaceCoastVol]

Seems like there are different definitions of profit margin going on in this thread.

I consider profit margin the way Gramps is suggesting - Net after all expenses paid.

At some points in this thread it sounds more like Gross Profit or Gross Margin. Money left over after direct costs are paid to cover other operating expenses and yield net profit.

Most industries have net profit margins in single digits. Even service companies with giant gross margins end up with net profits in the single digits or low double digits.

The evil oil companies have large net profits but low gross margins. Like WalMart, they are volume businesses. My industry has thin margins and (for the time being) good gross revenue but we are limited on the volume we can sell.

 

[volinbham]

The evil oil companies have large net profits but low gross margins. Like WalMart, they are volume businesses. My industry has thin margins and (for the time being) good gross revenue but we are limited on the volume we can sell.

Here are the highest margin industries. Even the top group (Accountants) is below 20% net profit margin.

Of interest, none of the boogie men of the left are in the group and of note the profession of most of our politicians (Lawyers) is one of the highest.

These are all professional service industries that generally require little infrastructure.

Enjoy

These Industries Generate The Highest Profit Margins

 

[Gramps]

Volume? Not necessarily.

Yes volume.

A company doing $500,000 in business per year netting 8% , has a net income of $40,000.00 per year.

A company doing $3 million in business per year while netting 8%, has a net income of $240,000.00 per year.


Yes volume matters.

 

[SpaceCoastVol]

Yes volume.

A company doing $500,000 in business per year netting 8% , has a net income of $40,000.00 per year.

A company doing $3 million in business per year while netting 8%, has a net income of $240,000.00 per year.


Yes volume matters.

Not all businesses are volume businesses though. When my airplane is full, it is full. At that point it becomes yield, and not volume. (Actually it is ALWAYS about yield in this business)

 

[Gramps]

Not all businesses are volume businesses though. When my airplane is full, it is full. At that point it becomes yield, and not volume. (Actually it is ALWAYS about yield in this business)

I never said they were, many are not.

Go back, reread what has been posted and catchup.... Geez.

 

[Carl Pickens]

FACTS, my azz.

How were the insurance companies butchered by the politicians and media in order to get support for the bill WHEN major health insurance executives were heavily involved in writing the law?

The insurance companies being so heavily involved in crafting the ACA was one of the big criticisms of the bill. Obama allowed the wolf in the hen house to be in charge of rebuilding the hen house to make it a better hen house.


It doesn't matter if one is pro or con concerning the ACA. Don't act like the insurance companies are victims and having to raise their premiums due to the ACA when they wrote the darn bill.
Did ya ever think increasing revenue was one of the goals of the insurance executives who were part of the architects of the bill ?

Then your azz, Gramps....have you forgotten the rhetoric leading up to this fiasco? I not talking about the writing of the bill. I'm referring back to before it was even voted on and passed.

Once they knew they were beaten the health insurance companies did what they had to do....knowing this law was an incremental step towards a single payor system they wrote it as such. They had to pass it to see what was in it...... Because it had yet to be completely drafted. At this point the insurance execs speculated they'd become the largest government contractors by handling the claims processing and administration of the single payer system ..... Making more profits without being on the hook for profitability.

Could I have all been a huge orchestration? I suppose it's possible.

 

[Carl Pickens]

Edgycater: The Truth About Health Insurance Industry's "Obscene Profits"

 

[Carl Pickens]

Collecting My Thoughts: Obscene profits of health insurance companies?

 

[PKT_VOL]

My company's insurance is staying the same or getting better (depending on the plan/option).

Doesn't seem to be the trend elsewhere.

 

[Gramps]

My company's insurance is staying the same or getting better (depending on the plan/option).

Doesn't seem to be the trend elsewhere.

Well to be fair , many of the posters on here are very anti-ACA. You are going to be reading to reports that portray it as the worse thing that ever happened. There are definitely problems with the program, is it as bad as it is portrayed to be on VN ? no it is not.

 

[FLVOL69]

Well to be fair , many of the posters on here are very anti-ACA. You are going to be reading to reports that portray it as the worse thing that ever happened. There are definitely problems with the program, is it as bad as it is portrayed to be on VN ? no it is not.

It's worse