Posted by The American healthcare system is nothing but the worlds greatest fraud and a scam perpetrated on a whole country by trillion dollar strong greedy scumbag health insurance companies who line the pockets of representatives and senators in Congress, Governers, state representatives and even the republican and democratic party leaders. Both Trump and Biden are well paid by these health insurance companies and they wont do anything against these corporations. It doesn’t matter at all if all the people in the US are harmed. They will keep on brainwashing people on the benefits of paying huge money to healthcare providers and pharma companies and getting the so called “exquisite” healthcare that is much worse at a higher unpredictable cost than that of other developed countries in the world.
There is a law that states that insurance companies have to use 80% of their premiums on healthcare and only the balance 20% can be used for other purposes including profits.
Health insurance:
If an insurance company premiums are 100 billion dollars a year, they can use only 20 billion for administration and profit. So what do they do? They keep increasing payments to healthcare providers so that they can justify premium increases. So in a few years the 100 billion charged in premiums becomes 200 billion a year and they get to use 40 billion for administrative expenses and profits. That is doubling their profits in a couple of years by scamming the American people. It is a win win situation for both the insurance and the providers. And this keeps going on and on even though Medicare payments to healthcare providers have not increased.
The only casualty is the common man who is squeezed more and more with deductibles and copays and coinsurance and out of pocket charges and non network charges and balance billing every time he is sick and becomes vulnerable. The complication of health insurance is such that nobody can understand anything about it. Have you ever known how much you would have to pay if you go for treatment and were you ever able to understand the logic of the insurance plans that are selected by your employer.
If you are self employed, you do have a huge choice. A Hobsons choice, where you pay a huge premium to an insurance company and all you get in return is an annual exam and then you have to pay the huge deductible before you can even get any treatment.
So people avoid getting healthcare and wait till a simple problem becomes serious and that is why America is getting more and more sick.
Crooked system:
To perpetrate the crooked system these scumbags keep all financials a secret and give us surprises only after we get treated. To be sure, our healthcare providers bill health insurance companies 100 times the cost of the same treatment in Europe and the insurance companies pay them 10 times the cost of the same treatment in Europe and other developed countries. And the common people think the insurance company has done them a huge favor by reducing the charges. What a cruel joke.