healthmyths
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- Sep 19, 2011
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2018 Medicare Trustee Report...page 7
The estimated depletion date for the HI trust fund is 2026, 3 years earlier than in last year’s report.
As in past years, the Trustees have determined that the fund is not adequately financed over the next 10 years.
https://www.cms.gov/Research-Statis...eports/ReportsTrustFunds/Downloads/TR2018.pdf
So this means there are no reserves. It will be depleted in 6 years.
BUT private health insurance have to BY states' laws where they companies want to sell their health insurance MUST have RESERVES to pay future claims.
In the United States and most developed nations, regulators impose required statutory capital reserve ratios on insurance companies to conduct business. There may be large differences in the nature and definition of acceptable reserves, which can make it tricky for companies, and their shareholders, that operate in multiple jurisdictions.
Most reserve requirements are established at the state level. Standard levels include 8% to 12% of the insurer's total revenue, but the actual amount needed varies depending on the types of risk a company currently assumes.
What level of reserve ratios is typical for an insurance company to protect against large losses?
So those people mouthing "Medicare for All" means that 1,400 private health insurance companies that employ over 500,000 people and pay over $100 billion a year in taxes would be no longer in business.
Has that cost i.e. these insurance companies going out of business AND their reserves for future claims...are these claims going to be paid by Medicare for All?
As it is with most ideas spouted by people who are economically challenged they do not understand
the elementary aspects of arithmetic! If "Medicare for All" replaces private health insurance this would throw American industries including health insurance companies completely for a loss.
Finally... remember when Obama said.."46 million Americans are uninsured and over half of all Americans have pre-existing conditions"?
Both are lies.
The estimated depletion date for the HI trust fund is 2026, 3 years earlier than in last year’s report.
As in past years, the Trustees have determined that the fund is not adequately financed over the next 10 years.
https://www.cms.gov/Research-Statis...eports/ReportsTrustFunds/Downloads/TR2018.pdf
So this means there are no reserves. It will be depleted in 6 years.
BUT private health insurance have to BY states' laws where they companies want to sell their health insurance MUST have RESERVES to pay future claims.
In the United States and most developed nations, regulators impose required statutory capital reserve ratios on insurance companies to conduct business. There may be large differences in the nature and definition of acceptable reserves, which can make it tricky for companies, and their shareholders, that operate in multiple jurisdictions.
Most reserve requirements are established at the state level. Standard levels include 8% to 12% of the insurer's total revenue, but the actual amount needed varies depending on the types of risk a company currently assumes.
What level of reserve ratios is typical for an insurance company to protect against large losses?
So those people mouthing "Medicare for All" means that 1,400 private health insurance companies that employ over 500,000 people and pay over $100 billion a year in taxes would be no longer in business.
Has that cost i.e. these insurance companies going out of business AND their reserves for future claims...are these claims going to be paid by Medicare for All?
As it is with most ideas spouted by people who are economically challenged they do not understand
the elementary aspects of arithmetic! If "Medicare for All" replaces private health insurance this would throw American industries including health insurance companies completely for a loss.
Finally... remember when Obama said.."46 million Americans are uninsured and over half of all Americans have pre-existing conditions"?
Both are lies.
