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by codeddesign
308 days ago
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Many people don’t understand that insurance companies only make an 8-12% margin. Since each state requires all insurance companies to gain pricing approval to sell in their state (Filings), if healthcare costs go up within a given year the insurance company loses money. We don’t have an insurance issue, we have a healthcare and inflation cost issue. Same goes with home insurance. What many don’t know: if you don’t like your insurance cost, it’s because of state legislation and cost in YOUR state - not federal govt. |
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I think this is the primary driver. However, we can't ignore how insurance company behavior also influences the pricing. The feds play a bigger role in this than you might think with things like Medicare/Medicaid reimbursement rates and residency funding leading to provider scarcity.