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Blue Cross in the red; Fallon, too
By adamg on Fri, 02/26/2010 - 5:07pm
The Boston Business Journal reports on dismal financial news from Blue Cross Blue Shield of Massachusetts, Fallon Community Health Plan and Harvard Pilgrim Health Care. Tufts Health Plan lost money on operations, but ended the year in the black thanks to investments.
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Comments
Gee, I wonder why?
Could it be that the government is forcing them into an unsustainable business model? Nah, that would be socialism, and socialism always works.
You don't have to wonder
Try reading the linked articles, putz.
* Investment losses (unrelated to MassCare, related to Bush's failed economic policies)
* Lost enrollment (unrelated to MassCare, related to job losses due to Bush's failed economic policies)
* Healthcare cost explosion (unrelated to MassCare, related to federal Medicare reimbursement rate)
So, okay, smartass. Where's the unsustainable business model being forced by the government?
Also, *without* government health care intervention, the cost explosion is just going to continue to rise AND more people will be dumped from the insurance rosters because the companies won't be able to afford to keep the sicker and sicker people on their rolls. So, the only thing unsustainable is what we're doing right now as a country.
But don't let reality get in the way of your 2-line lying zinger. Golf clap for your quick wit.
Mandated care
Mandated medical procedures, cost shifting from Medicaid/Medicare, etc.
Maybe ...
They pulled the same bullshit massive whopping unexplained and unjustifyable 39% premium increase across the system that they pulled on my company, and lost the business to competitors who were more than happy to undercut them???
Huh?
Can you please explain to me how their investment losses were related to Bush's failed economic policies? Can you also explain how "lost enrollment" in a state with 97% coverage is Bush's fault, not clients opting for cheaper/better alternatives?
Sorry Kaz - but your comments are usually better than "It was Bush's fault".
Does anyone know - is this some kind of fiscal year? They MADE money in 2008 on their investments - which was almost impossible and LOST money in 2009 which was equally unlikely.
Read the article
Lost enrollment was due to job loss...which occurred after the market tanked...which was due to Bush's failed policies of hyperinflating the "everyone buy a house!" bubble.
The first part that ties it to job loss...that was in the first link.
If only it were that simple
This was a massive systemic failure caused by Congress on both sides of the aisles (for not better regulating the GSE's), the Fed (for an easy money policy that lasted too long), the banks (for taking on too much risk), the SEC - read Bush (for not controlling leverage and short-selling rules), and the states (for not reeling in AIG) and the global economic system (most of the risk AIG took was through extremely opaque securities sold out of the London office - out of sight of American regulators). The list goes on from there. Bush played a role. It was nobody's fault because no one segment of government or business could have stopped it and it was everybody's fault because they all went along while the music played. There is no one villain in this scenario - not even close.
Could it be that JeffC...
Or... could it be that the only channel on your TV is FOX 25?
Hard for me to believe I have to share oxygen with people who think like you...