Yep, the $3B is the reason we all pay so much for insurance. Hopefully, one is "invested" in something their medical cost monies are being invested in so they can get some benefit out of their spending later in life.
Geno
I don't think so, I believe that much more of the cost is due to treating people that don't have the means to pay which is spread out to all insurance holders (those that do pay) and the cost of liability insurance and legal representation. I don't understand why people think that businesses should not make a profit. That $3B sounds like a lot of money but what % is it of the amount that UHC spends on buildings, maintenance, medical equipment, employees, medical supplies, etc?
Some money could be saved by cutting down on admin costs - far too many administrators making inflated salaries.
i think this is probably an important part of the real dilemma we all face.
the service providers are almost required to hire and expand the services provided by the administrators.
there's the federal gov't with it's big guns of enforcement, and policy setting.
competitors, let's don't forget the competitors,
state & local regulators, and big pharma.
medical equipment developers & marketers (what to buy and what not to buy?).
a well versed and connected administrator might well be worth his/her weight in gold?
but, yes i get your drift. useless overhead is a drain on precious resources.
