Most "big" companies self insure... - Saab General Bulletin Board - Saabnet.com
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Most "big" companies self insure...
Posted by Saab Hubby (more from Saab Hubby) on Wed, 9 Feb 2005 20:25:02
In Reply to: OT Why you should patronize your customers' employers, Caarma 
[Profile/Gallery]
, Tue, 8 Feb 2005 14:01:54
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and they only use an insurance company to minimize their exposure to loss in profits. I have worked for what was the #7 steelmaker and the #10 aluminum maker and both companies were self insured. What this means is that these companies contract with an insurance company to administer health care plans. All expenses are actually paid for by the companies and the insurance company is paid a "flat" fee for their administrative services. So in effect the actual company (i.e. the Big 3) will pressure the insurance company to keep costs as low as possible so as not to impact profits.
So in theory, you are right, if more doctors (and patients) bought products from the Big 3 (of which Saab now belongs)they could make more profits and could not be as interested in pressuring the insurance company. However, since these companies are public owned, stockholders demand ever increasing profits to increase dividends, so it becomes a nasty loop and the pressure for profits will always go up.
Thats my .02, such as it is from an old farmer.
posted by 24.159.114...
Posts in this Thread:
- OT Why you should patronize your customers' employers, Caarma , Tue, 8 Feb 2005 14:01:54
- Most "big" companies self insure..., Saab Hubby, Wed, 9 Feb 2005 20:25:02 <-- Viewing This Message
- I have a friend making big money off of this, Schu, Wed, 9 Feb 2005 03:57:56
- Re: OT Why you should patronize your customers' employ, Rafe, Tue, 8 Feb 2005 15:12:22
- Re: OT Why you should patronize your customers' employers, Erik, Tue, 8 Feb 2005 14:23:00
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