DUnderheads discuss setting up own non-profit health insurance company

[Ralph Wiggum]

Yet Another Bad DUmmy Idea

Cleita (1000+ posts)
Wed May-27-09 02:16 PM
Original message
Could we, the people, set up our own non-profit health insurance company?
   
Is it feasible? I, for one spend $256 a month on a Medicare medi-gap insurance plan. Anyone else that has to buy their own insurance for themselves or their employees, could they contribute? If we extended memberships and took all that money that is being spent on health insurance and put it in a pool to provide comprehensive health insurance to the members, could it be done? As a non-profit could we solicit charitable contributions to cover the uninsured like other charities do, for instance St. Jude's Children's Hospital as well as cover those whose diseases are very costly? Although, I have worked in health insurance in various capacities, I don't have a clue as to how to run an insurance company. However, if the right administrators and CEO could be found, and they agree to run this at an administrative cost of less than 5%, would people be interested in buying into it?

I'm really thinking we have to take the bull by the horns and compete with the profit driven health care industry. We will have to get people to buy insurance with us and not them essentially drying up their revenue and hopefully driving them out of business. Am I on to something? Or, should I just take my unicorn and go elsewhere.

supernova(1000+ posts)
Wed May-27-09 02:21 PM
Response to Original message
1. You mean like a Health care Co-op?
   
I've often thought about running something similar. Something you could pay into, but would be a 501c3 or whatever statute it is that covers nonprofits who provide services. I lack the financial acumen to see how it would work, but I damn sure could be a forceful advocate.

But it sounds like such a great pie-in-the-sky idea, that's all that matters.

Just a developing thread, but there should be some very sound financial and economic observations.

[BannedFromDU]

Yet Another Bad DUmmy Idea

But it sounds like such a great pie-in-the-sky idea, that's all that matters.

Just a developing thread, but there should be some very sound financial and economic observations.

     Let's see how long THAT lasts. "Pay Administrators nothing, and approve every single claim" is a recipe for collapse within the first week.  And if I ran a hospital that had to contract with them, I'd mark everything up 25% just because they're assholes.

[ScubaGuy]

Good God these people are stupid.

Yep just start your own insurance company and I'm sure you'll get tons of people willing to donate their time to do all the administrative stuff.  People will just be thrilled at the idea of donating to your company in addition to the TAXES they already get to donate for medicare.

I.T., infrastructure, staff I'm sure you can keep it under 5%.  

Oregone  (1000+ posts) Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Wed May-27-09 02:37 PM
Response to Original message
7. I don't think its feasible at all.
   
Edited on Wed May-27-09 02:39 PM by Oregone
You got to understand that health care is expensive because there is risk (potential costs) and the constant realization of the potential. It costs money to pay for health care, and hence, its expensive to fund. To cover everyone, you would probably have just as high premiums now (minus 10% to 20% in profits savings). But on the other hand, high risk people who cannot obtain health care elsewhere will flock to you. Their expenses will eat into the non-profit savings.

So, the premiums would probably be similar. And why is this bad? Well, because health insurance premiums are unaffordable to many already and the poor couldn't even afford it. They need to be subsidized by the federal government through progressive taxation in a government run non-profit system. Unless you get grants and charitable donations to subsidize the poor's premiums while paying for high risk clientele, you will go bankrupt sooner than later.

[thundley4]

I think a non-profit insurance company for Skin's Island would be perfect.  Not many have jobs, so the ones that do work pay for them, after all, it's only fair. Then they would no longer be crying for the government to provide for them. 

I guess there is one big problem with that.  DUmmies are very selfish and uncharitable.

[Lord Undies]

Little Goon (1,000,000+ Posts) Wed May-27-09 02:37 PM

Hey, lets put on a Health Care Show to raise money to pay everyones doctor bills!  I'm sure Dad will let us use the barn and my other Dad will help make the costumes!

Whadda ya say, gang? 

[BannedFromDU]

Little Goon (1,000,000+ Posts) Wed May-27-09 02:37 PM

Hey, lets put on a Health Care Show to raise money to pay everyones doctor bills!  I'm sure Dad will let us just the barn and my other Dad will help make the costumes!

Whadda ya say, gang? 

    Now THAT bends! ^5

[DumbAss Tanker]

Didn't one of them post exactly the same stupid idea a couple of months ago?  It hasn't gotten any more feasible in the meantime.

[BannedFromDU]

Didn't one of them post exactly the same stupid idea a couple of months ago?  It hasn't gotten any more feasible in the meantime.

     Does anyone remember back to the CU days when they wanted to start their own town? THAT was classic.

[SSG Snuggle Bunny]

Will they be relying solely on member premiums or will they take that money and invest it in companies that have profits so as to expand the available funds?

If they want premium based coverage they should be endorsing medical savings accounts, but conservatives like those so that idea is off the table.

I s'pose they could forsake profit-based investments and limit accessibilitys but this DUmmie is talking about dedicating its own money to this idea instead of its current plan, so we have to assume everyone is allowed in.

If they do go investment route they have to find someone that will work as an investment broker on a very limited salary. We are left to wonder what that person's fiduciary liabilities would look like. I would imagine they would have to be close to nil as I don't see anyone--especially a liberal--taking all risk with no reward.

[Ralph Wiggum]

     Does anyone remember back to the CU days when they wanted to start their own town? THAT was classic.

I don't think this is the thread, but I'm sure that several have sprouted up over the years:

Let’s build our own city (seriously)

[The Village Idiot]

this has come up before during other medical discussions, always dumb

[SSG Snuggle Bunny]

I don't think this is the thread, but I'm sure that several have sprouted up over the years:

Let’s build our own city (seriously)

That reminds me: I wonder how Paulville is doing?

[Lord Undies]

That reminds me: I wonder how Paulville is doing?

Not so good.  I understand they had to put in their first crosswalk.

[The Village Idiot]

I don't think this is the thread, but I'm sure that several have sprouted up over the years:

Let’s build our own city (seriously)

 I would love to see DUmmieTown get built. But I have a feeling that none of them would want to do the actual work involved or put up any of their own money

[MarshallLaw]

     I'd mark everything up 25% just because they're assholes.

Ahhhh, the ol' asshole tax.

[GOBUCKS]

I would love to see DUmmieTown get built.

I got sick of my job, sick of my wife
Sick of my future and sick of my life
I packed up my car and I got some gas
And told ev'rybody they could kiss my ass
I'm goin' to Party town (Yeah, yeah)
I wanna party down (Yeah, yeah)
I wanna have some fun
I wanna fool around
I'm goin' to Party town

[Lord Undies]

I would love to see DUmmieTown get built.

We built this city,
We built this city,
We built this city on hope and dope....

[RobJohnson]

Due to the fact that less then 1% of the island's population actually pays for health coverage, they should have about three people sign up.

I am sure the three of them could negotiate some great deals with providers with all that clout.

[RobJohnson]

I don't think this is the thread, but I'm sure that several have sprouted up over the years:

Let’s build our own city (seriously)

It's been over five years, yet they still live on the island.

[The Village Idiot]

We built this city,
We built this city,
We built this city on hope and dope....

City of Footloos, pop 4

[Karin]

I followed that link about building their own city, and that's the dopiest, moonbattiest, most naive thing I've ever read, especially the description of the Columbian town.  I really, sincerely, wish they'd try it. 
Read it if you've a got a sec.  There's 100% employment, and 100% leisure time there! 

[The Village Idiot]

and everyone is happy all the time, and the men in the little white coats bring you happy pills every day

[JohnnyReb]

Little Goon (1,000,000+ Posts) Wed May-27-09 02:37 PM

Hey, lets put on a Health Care Show to raise money to pay everyones doctor bills!  I'm sure Dad will let us use the barn and my other Dad will help make the costumes!

Whadda ya say, gang? 

I was about to say that dad would say, "OH HELL NO! YOU AND THEM DOPE SMOKERS AIN'T BURNING DOWN MY BARN!"....but then I saw there was "2" dad's.

[Carl]

Insurance is based on having capital reserves to fund unexpected payouts (think malpractice) and uses other reinsurance companies that further spread the burden of maintaining that reserve.
Their little silly plan would need premiums far in excess of anything paid today to ever hope to stay afloat.

They can not say one thing without it being stupid to the core.

[miskie]

We built this city,
We built this city,
We built this city on hope and dope....

Gotta make a move to a
Town without Bushies
Town to keep me hopin'
Keep me growin' my own stash-o-weed

Well, I talk about it
Talk about it
Talk about it
Talk about it
Talk about, Talk about
And Ill do nothin'

Gotta toke on
Gotta hope on
Gotta toke on

Won't you take me to
DUmmytown ?
Won't you take me to
DUmmytown ?
Won't you take me to
DUmmytown ?
Won't you take me to
DUmmytown ?