Does this make you angry?

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This topic contains 22 replies, has 0 voices, and was last updated by  JanS 3 years, 9 months ago.

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  • #603200

    JanS
    Participant

    As a healthcare provider, I sometimes find it very difficult to get paid by these insurance companies, who sometimes discount my fees by a great amount…and then there’s this… amazing…

    http://seattletimes.nwsource.com/html/localnews/2017460805_surplus09m.html

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    #757887

    JoB
    Participant

    yes, this makes me angry

    #757888

    pattilea
    Participant

    Yes, this makes me mad too!

    I did some contracting work for the state of WA (DSHS) and I had to take a fee reduction also.

    #757889

    pattilea
    Participant

    Yes, this makes me mad too!

    I did some contracting work for the state of WA (DSHS) and I had to take a fee reduction also.

    #757890

    KatherineL
    Participant

    Medical insurance companies are almost the only people who still send me mail printed on one side only. Then they claim they’re short of money, have to raise fees. I wonder what other extravagances we’d find if anyone were able to look closely at their business practices?

    #757891

    miws
    Participant

    Makes me angry too.

    And, I highly doubt the insurance companies are going to give the surplus back to policyholders, should their fears not come to fruition.

    Mike

    #757892

    JanS
    Participant

    KatherineL…I have one insurance company that sends about 4 pages along with their checks..one page is always blank except for one line of something that is of no importance to me…I use it as scratch paper..

    #757893

    KatherineL
    Participant

    I use mine in my printer. But even so…..

    #757894

    kootchman
    Member

    Yea… how about the state legislation looking at the endowment funds of US and WSU before allowing another double digit tuition increase? Like if you are sitting on 3 billion UW…. both are supposedly non profits…

    #757895

    JanS
    Participant

    this is about health insurance…Regence (I am NOT a Regence provider), Premera , Group Health ( I AM a provider for those two)…this is not about the UW, and how much money they have…that’s another thread…hey, here’s an idea…why don’t you start it, Kootchman…and go hang out there, if you have nothing of importance to say here..

    #757896

    kootchman
    Member

    No Jan the Censor it was… Does this make you angry? What important thing did you have to say? It’s about non-profits who hoard cash while raising rates to customers… seems to fit for me. And since both are controlled by state regulators.. it seems to be a trend. Wow… an idea expanded. Hey heres’ an idea… go…

    #757897

    miws
    Participant

    OMG JaN!

    You’re a censoring almost twit! ;-)

    Mike

    #757898

    Bostonman
    Member

    They do need to keep cash on hand to pay claims, just because its sitting on the balance sheet of the company doesn’t mean its a surplus. Without seeing the internal company documents on expected claims and the actuarial tables they are using all we see is the huge cash balance.

    Its not the whole story. I was an accounting controller at Group Health for a couple of years and the company is constantly upgrading its equipment and buildings. For all you know they could be preparing to open another facility.

    #757899

    m3bodyworks
    Member

    @Bostonman

    the Insurance commissioner’s website said that this is above the “Cash on Hand” to cover claims and possible claims. This is actual Surplus they are sitting on. I don’t think they even pay taxes on it either.

    I don’t know all the details but I have been watching the IC website.

    Michael

    #757900

    Bostonman
    Member

    Perhaps but he doesn’t mention how he knows this. Did he audit their liabilities and projected future liabilities, trend rates, average age of insured. There are so many variables.

    Him just coming out and making the statement without representing how he can make the claim is nothing more than a government administrator sitting around pretending to know things they don’t. Have an independent panel audit done and then we have something to base an opinion on.

    #757901

    waterworld
    Member

    Keep in mind that the insurance commissioner tried, and failed, to get legislation passed last session that would have allowed him to factor in what he calls “surplus” when considering the companies’ requests for rate increases. Under state law currently, insurance companies are required to maintain certain minimum reserves, but there is no upper limit.

    Also, I think the commissioner is interpreting “reserves” way too narrowly, even under current law. “Reserves” are not limited to the amount needed to pay anticipated claims; reserves can include other amounts as well. Whether the funds are “surplus” is in the eye of the beholder.

    Not that I necessarily like the idea of health insurers sitting on piles of cash while they reduce reimbursement rates and increase premiums. I just wouldn’t assume that the commissioner knows better than anyone else what the ideal reserve amount should be.

    #757902

    kootchman
    Member

    Ahhh therein lies a hugh assumption waterworld. “the commissioner knows better than anyone else”…. just like the state knows better than anyone else how to bargain for pay and benefits… and be off 5 billion… based on their assumptions and projections of revenues? Show me one state budget projection that even comes close to reality. Ferry system? 520 Revenue projections? .. anything.

    #757903

    JoB
    Participant

    kootch..

    today is my birthday

    could you give me the gift of one positive comment

    besides happy birthday?

    i can only hope

    and in the meantime i am going to turn WSB land off

    and live entirely in the real world today

    so my heart won’t break

    if you can’t manage .. i won’t know till late in the day or tomorrow.

    my apologies to JanS and all for straying off topic today…

    but my post had every bit as much relevance to the topic

    as kootch’s ;->

    #757904

    waynster
    Participant

    HAPPY 39th BDAY Job hide out from here injoy the sun search for the tan line today :0)……

    #757905

    waynster
    Participant

    kootch if you have better ideas how come you don’t run for a state office…..CEO’s will always make the big bucks on the backs of others and never pass it on down as for non-profits like WDS maybe its time to look at that tax exempt status and others like them….

    #757906

    kootchman
    Member

    I like my chosen career just fine. Most of us don’t really think of elected office as a “step up” in the world.

    #757907

    JoB
    Participant

    Waynster

    incredibly sunny and warm as far up Mt Ranier as i could go :)))

    great day!

    #757908

    JoB
    Participant

    the thing about all those insurance company reserves

    that someone said may be excess because “they” are thinking of new facilities

    in a way.. that’s public money they are sitting on

    with absolutely no public oversight or control

    and “they” certainly don’t need to sit on all that excess so badly that they “need” to delay legitimate payments to their vendors…

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