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.
Yet Another Bad DUmmy Idea (http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x5730184)
But it sounds like such a great pie-in-the-sky idea, that's all that matters. :whatever:
Just a developing thread, but there should be some very sound financial and economic observations. :mental:
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.
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?
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.
I don't think this is the thread, but I'm sure that several have sprouted up over the years:That reminds me: I wonder how Paulville is doing?
Let’s build our own city (seriously) (http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=104x511165)
That reminds me: I wonder how Paulville is doing?
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) (http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=104x511165)
I'd mark everything up 25% just because they're assholes.
I would love to see DUmmieTown get built.
I would love to see DUmmieTown get built.
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) (http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=104x511165)
We built this city,
We built this city,
We built this city on hope and dope....
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?
We built this city,
We built this city,
We built this city on hope and dope....
That reminds me: I wonder how Paulville is doing?
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.
Maybe if it were a Minor Medical clinic with a $20 door charge?
But that's not going to sell in DUmmyland. They want palm reading covered too.
and injured chicken care
and injured chicken careYes. No ill chicken should have to wing it alone.
Yes. No ill chicken should have to wing it alone.