Insurance Horror Stories

[Krin135 at aol.com]

In a message dated 9/22/2006 4:05:36 AM Central Standard Time,  
rfsmithmd at comcast.net writes:

Medicare, which is a universal
health insurance program for older  Americans, spends less than 2 cents of
every dollar on administrative  costs, leaving 98 cents to pay for medical
care. By contrast, private  insurance companies spend only around 80 cents of
each dollar in premiums  on medical care; much of the remaining 20 cents is
spent denying insurance  to those who need it. 


 
 
This statement does not take into account the amount spent by providers and  
hospitals to cope with the paperwork demands of the Centers for  
Medicare/Medicaid Services...which 10 years ago amounted to over well over 10%  of our 
office overhead...I doubt that the computerization of billing has  improved that 
any...
 
and I highly doubt the '2% claim for government overhead as well...
 
ck
Charles S. Krin, DO FAAFP