Quote:
|
Originally Posted by Guest
Ok, name one insurance company that's not fruaded the federal government/taxpayers out of billions. Insurance CEO's don't get millions in stocks and bonuses by doing business on the up and up, they find way to Cheat somebody. Either the government or insurance payer gets screwed. The system corrupt insurance for the most part legal racketeering.
There will be single payer eventually once the career politicians are removed from the scheme.
|
Where do I begin with a response with so little space and time. Insurance is so regulated by both state/federal that they must adhere to and explain in an audit the how, why of their actuarial projections, the split in premium between benefits and expenses is narrow. healthcare carriers expense ratio is even more conservative than property/casualty companies. Insurance companies earn a profit primarily by controlling their expenses not in the payout of claims.
...........................................
Its up to the board of directors as to the amount they pay their CEO's and his/her staff but that comes out of the expense portion of the company. Check the actual net profits made by insurance companies. small.
the fraud you speak of results more from the peripheral venue .............................
Haven't you been paying attention as to how many healthcare carriers have exited the healthcare market. do you know why? that's a rhetorical question
I earned my CPCU,CLU,CHFC and there still was so much more to understand about this complex business
I can tell you that each of those Societies has a written set of ethics and a demand that an ethical oath be taken before such a designation is conferred
Indeed we have our bad apples too but there is genuine internal policing unlike other occupations.
you paint with a very broad brush and that is always a sign that emotion has overtaken reasoning.
Personal Best Regards: