theprof00 on 25 August 2009
My friend is against the public option.
He says that it will be impossible to compete with a government run health option because insurance companies only make about 1-3 pennies off of every dollar that is paid out in premiums.
I have heard things about 30% overheads, and lobbying costs, and investment, and other shady record keeping tactics.
What is the real story? How much do they actually make in profit, and how are those costs handled?
