This situation clearly demonstrates the difference between the two parties. Rather than working with the established government, the capitalists want to come in and take it over. This is un-American and should not be ignored.
Thank you so much, Rachel Maddow and Jesse Jackson for keeping our eyes on the ball. Many of us believe our "military spending" can help our own country, in towns such as Benton Harbor, and at this point, all over the U.S. And, we can afford to help ourselves, too.
Perhaps in an attempt to sell more books, Mr. Potter has played loose with the facts. Here is the real story on BlueCross BlueShield of Tennessee (BCBST):
Our Profits
In 2010, BCBST earned 2.5 cents from each premium dollar collected. The company made only one half of one cent in 2009.
We actually pay claims. To be exact, we paid 61.9 million claims in 2010 totaling $8.7 billion for our 3 million members, who would have paid much more without the discounts we negotiate.
Our Reserves
Built over 65 years, our strong reserves provide the ultimate consumer protection. The 2008 financial meltdown is a real example of why we need healthy reserves. Our reserves value dropped by more than 20 percent, yet we met all obligations and remained financially strong. No bailout needed.
Potter additionally calls for using our reserves to lower premiums for one year. This idea fails to recognize the real drivers of premium increases: rising costs and use of medical services. It also ignores the fact we would be forced to raise premiums the following year to catch up with two years of medical cost increases.
Our Not-for-Profit Status
And although not-for-profit, we paid over $240 million in local, state and federal taxes last year. Additionally our foundation and trust invested more than $7 million in organizations that benefit the health and well-being of our fellow Tennesseans.
Our Medical Loss Ratio (MLR)
Potter conveniently elects to exclude our small and large group 2010 MLR figures — both of which exceed requirements of the health care reform law. And although at 76.7 percent for individual policyholders, which represent about three percent of our members, we already have efforts underway to meet the requirement.
Our Headquarters
Building our campus in Chattanooga was a deliberate decision of our board of directors to enhance productivity and lower our operating costs. The latter by more than $4 million annually (leases, maintenance, energy, equipment, etc.). To date, only one of our former buildings has not been sold; the rest have new owners who are bringing increased tax dollars into our city.
This is absurd. Why do health insurance companies even exist? The Canadian or German systems are far superior to ours. Better care, longer lifespans, lower cost. Insurance companies exist to make money. They do that well. They certainly do not add to the quality of life in America.
If the main reason insurance companies are making large profits is that the new law encourages them not to waste money on superfluous sales agents and marketing companies, as you claim, then the law has made one a step towards decreasing the costs of health care for all.
The next step is to require the insurers, by law, to feed those savings back into actual health care delivery rather than into CEO compensation.
(note: that they are doing just fine with 50-75% less going to marketing demonstrates that the marketing is unnecessary).
The call should go out to all who don't have jobs, or who have the ability to attend all rallies. I commend you for your willingness to participate! It is going to be time for our trained military to start to defend our own democracy here at home...
I guess there will be one plus for when the majority of us lose everything we have worked for. At that point, when we have nothing left, we can head to the nearest place of protest and help out. I know I will go on the road as a radical, agitator, and protester if I lose my job, then my home, then my possessions. We all need more Mother Joneses, Che Gueveras, Joe Hills, in our midst. POWER TO THE PEOPLE. These people, via the now bought and paid for republican party, have come out of the closet and publicly declared war on the American people.
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