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User Info Jail. Now. Not Bailouts; entered at 2017-07-14 22:35:12
Posts: 1423
Registered: 2010-12-29 arkansas ozarks
When you get on Medicare you really see the disparity in billing.

My recent angioplasty & stents was billed at $89 K .
Insurance paid $1.3K which is the 20% Medicare didn't cover. That means they settled for around $6.5K .

Billed / actual = 89K / 6.5K = 13.7 X ,
they settle with Medicare for 1/13.7 = seven and one third cents on the dollar.

Compare that to the lush payments by private insurance.
Young folks:
Look at the EOB from your most recent medical encounter .
I wager the insurance/medical/pharma complex got a lot more than 7.3 % out of you.
You're financing a fatcat orgy.

When i hear kids complain about seniors draining the treasury via Medicare, i say:
"Blame the insurance industry. They rip you off during your healthy years and when you get to age they might actually have to pay out something, Medicare comes to their rescue. Insurance industry bought the politicians and arranged it that way. "

Even with that expensive procedure my Medicare supplement provider just about breaks even on me this year.

Medicare's purpose is to get insurance industry off the hook.
Karl's one line law would get rid of the hook.

2017-07-14 22:35:12