NLIC.org

Rita Said:

Microeconomics Insurance Question?

We Answered:

D.

Gail Said:

obama as President and hillery as VP?

We Answered:

It doesn't matter. McCain is going to win. America doesn't want to be socialist.

Lydia Said:

Risk Premiums?

We Answered:

But they don't use expected value. It's a flawed question, because you have to evaluate the type of equipment, and the hazard loss types. Is it wood in a warehouse, where you aren't likely to have a partial loss? Or two Cat exacavators, where if you have a theft, it will either be 50% or 100%?

And you can't add "handling and profit" onto it, either.

Low risk property is usually a 5% rate. Higher risk is going to be 10% or even 15% depending on the perils.

Steve Said:

Hypothetically: What if insurance premiums continue to rise at double digit rates the next 4 year?

We Answered:

Here are a few basic facts, regardless of your politics:

There is nothing in this bill (now law) that requires insurance under writers to maintain or reduce premiums.

There will be tax increases (currently for anyone making 250K or more per year) to cover the estimated $500,000,000,000 half price for this legislation over the next 10 years.

There WILL be cuts in Medicare. Projected cuts are $523,000,000,000 over the next 10 years. Please note that Medicare not only covers grandma and grandpa's health care, but it also covers our retired military's health care.

When you calculate this in with the national deficit, the "loan" from China ($878,000,000,000), the Medicare deficit and the Social Security deficit -- dependent upon which government source you turn to, we're looking at a national DEFICIT of somewhere between $57,000,000,000,000 and $75,000,000,000,000. That's not the national debt folks. That's the deficit!

Those of us who did the math, realized early on that this thing is an albatross around our necks. And now, the non-partisan review has declared that it is "unsustainable and unrealistic."

How many people would willingly sign a contract for a new car that requires you to pay for ten years, a car that you're only allowed to drive for six? It's not a "purchase." Instead, it's a lease. You're paying a massive down payment, driving it for a given number of years and then you will have to return it or pay an even BIGGER amount to keep your car. Folks, we're not allowed to return this "car."

The Clinton's attempted to reform health care. It was called HMO. They turned the decision making process over to the "for profit" insurance companies -- those same companies Obama and Pelosi have been demonizing and vilifying -- just as the Clinton's had demonized and vilified doctors to get their bill passed. By virtue of the fact that we are now reforming health care yet again, it clearly means that the Dem.s failed miserably with their HMO scheme.

Obama threatened that "if this bill does not pass, we will end up in bankruptcy." So, having crunched the numbers, the what if, is now becoming reality. Because this bill DID pass, we will now go into bankruptcy.

So, now let's discuss who has been fear mongering.

Monica Said:

Just got audited! I can't claim my health insurance premiums?

We Answered:

If your share of the premium is paid with pretax dollars you effectively have a tax deduction even if you don't itemize. Its like being paid $1,000 per week and deducting a $50 health insurance premium being replaced by being paId $950 Per week and paying nothing for your insurance.