Thanks.
If you have contacts, I need some information. Comments by panelists at the last SDCMS meeting pooh-poohed the money wasted on private insurance. They said that insurance companies were limited to 15% profit because they were required not to drop below an 85% loss ratio (that's what's actually spent on care). Well aside from the fact that 15% is a huge profit, and that this calculation doesn't take into account the money spent on advertising or hiring people to deny care, they also denigrated the figure for Medicare, widely quoted as about 4% (3-5) expenses. What I need to know, is how solid is this 4% figure. Does it include the cost of all civil service employees working for Medicare? (They speculated that it didn't.) Can you refer me to a definitive source for this information? Much obliged!! pjf
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If you have contacts, I need some information. Comments by panelists at the last SDCMS meeting pooh-poohed the money wasted on private insurance. They said that insurance companies were limited to 15% profit because they were required not to drop below an 85% loss ratio (that's what's actually spent on care). Well aside from the fact that 15% is a huge profit, and that this calculation doesn't take into account the money spent on advertising or hiring people to deny care, they also denigrated the figure for Medicare, widely quoted as about 4% (3-5) expenses. What I need to know, is how solid is this 4% figure. Does it include the cost of all civil service employees working for Medicare? (They speculated that it didn't.) Can you refer me to a definitive source for this information? Much obliged!! pjf
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