So, Sutz, hospitals charging insurance companies significantly more for basic procedures now as compared to 5/10 years ago has nothing to do with it whatsoever? Also, people living longer and needing health care for more years is irrelevant too, I suppose? I've got a coworker that has racked up several hundred thousand dollars in medical costs to our insurance carrier. Much of which is for her knee, and complications from problems with it. How many $600/month insurance policies are needed, with those people not incurring any medical costs, does it take and for how many years, to cover one person racking up a ton of costs like that?
Look at the stock price history of the past 5 years for medical insurance companies. I just did. Most of them peaked around 5-7 years ago, and then dropped. Most of them are worth less now than they were 6 years ago on this day. There isn't an easy way to artificially inflate costs for medical insurance companies like the big oil companies have. (Oops, a refinery needs to be offline for 3 months for improvements.)
I'm not trying to defend medical insurance companies. They will use any excuse in the book to not provide coverage for people, and I don't like it. However, let's stop pretending they're the biggest reason for rising medical insurance costs, yes? Just like this person describes,
I've seen the same exact procedures with the same equipment in most cases, go up significantly in cost in recent years on my dad's medical bills.
Medical insurance companies receiving bills 2-4 times higher for the same procedures in just a few short years has nothing to do with it though, right, Sutz?
Hello? Is this thing on?