The Easy LIfe

I catch a lot of hell for being a long-time homebuilder who lives in an apartment.  Why would I do that?  "Practice what you preach" they say.  

Well, here's one reason.  We've had several damaging hail storms in the DFW area in the past few weeks, the most recent being just last night, and it was a doozie!

From about 8pm on the only thing on local TV was storm coverage.  North Dallas and the northern suburbs received golf ball-to-baseball sized hail.  In many areas the ground was inches deep in hail...it looked like an ice storm in the middle of winter, yet it was in the 80's just hours earlier.

Skylights are tougher than they look, but they DO have their limits.  When they break, it's time to call the fire department for help.  (Thank God for our firefighters, but honestly it wouldn't have dawned on me to call the fire department after a hail storm.)

Now many people will be consumed for the next three or four months calling and being put on hold for hours at a time dealing with their insurance company, arguing with the adjuster, finding (and waiting in line) for a reputable roofer to put things back right, then having to deal with the mortgage lien holder (the bank) to get their check released.  The same goes with damage to autos, dealing with insurance and then body shops.  Ugh!  What a hassle.  Been there, done that!

Living simple has it's advantages I'm tellin' ya.  My cars were safe in a parking garage when the storm hit, and our roof, if it was damaged, isn't my roof.  Let management deal with it. They deal with the landscape maintenance, the pool, the elevator and fire sprinkler inspections, and the painting, etc, too.  I just write a check.  :)

I'll take "The Easy Life" for $500, Alex.

S

Take two asprin and call me in the morning

I read an interesting article in the newspaper this weekend discussing the sky-high cost of the American health care system.  Because they are so visible and their fees seem so high (at first glance), doctors get the rap as the primary cause of our borderline-affordable medical care nightmare.  Turns out they aren't even close to being the highest paid links in the health care chain.

The story reported that the average surgeon makes $306K and a general practitioner makes on average $185K.  Considering all the education they must complete and the ungodly amount of medical school debt they assume, not to mention the literal life-or-death role they play, I don't think they are overpaid at all.  

And just FYI, the average nurse makes $61K and the average emergency medical tech makes $27K.  I think we patients are getting off cheap!

So where are the all the big bucks going?  The story suggested too much goes to administration / executive compensation.  For example, the average insurance company CEO makes $584K, the average hospital CEO $385K, the average hospital administrator $237K.  

Of course, the bigger insurance companies and hospitals pay WAAAAAY more than that.  Aetna CEO Mark Bertolini was given a salary in 2012 of $977K, with total compensation amounting to $36 MILLION!  Even the CEO of mid-sized New Jersey health system Barnabas Health made $21.7 MILLION total compensation in 2012 when he retired.  They also had 20 VP's who made over $350K each.

It seems the United States' $2.7 TRILLION health care system is top heavy with administrative costs, to the tune of 20-30% or $606 per American.  By contrast, health care administration in France costs $277 per person, Germany $237, and Canada $148.  (And for the record, citizens of those countries all have longer life expectancies than Americans.)

Doctors here are even protesting, too.  "Among doctors, there is growing frustration over the army of businesspeople (medical coders, claims adjusters, medical devise brokers, etc) around them and the impact of administrative costs which are reflected in inflated charges for medical services", they say.

So how can these guys justify their enormous incomes?  They say "large pay packages are necessary to attract top executives who have the expertise needed to cope with the complex structure of American health care, where hospitals and insurers undertake hundreds of negotiations to set prices."

Talk about job security!  You make the system so unbelievably complicated very few can decipher it, then demand a King's ransom to oversee the mess you created.

But when Obamacare was in the planning stage, who did they turn to for advice and political support?  The insurance companies and big hospital systems!  Well DUH!  (I guess they sorta had to, but still, their advice had to have been "cover your ass" biased.)


Maybe I'm getting way ahead of myself, but I'm wondering if that tiny little speck I see on the horizon coming headlong towards us isn't a single payer health care system....what its detractors call "socialized medicine"?  

My foreign friends say their system works well and we shouldn't be afraid of it.  Many Americans seem to think it will suck us all into a black hole of doom.  Me?  I have no clue.

I guess we'll just have to stay tuned.

S

I'm not sure I fully understand the difference between liberal and conservative stances on some issues.  In particular, consumer protection issues.  How is trying to force banks (and lenders in general) to say clearly, right up front and in plain English, what their terms are and what they're going to charge, anything but a good idea?  How is that partisan?  Unless you're a banker or lender intent on snookering the public into thinking they're getting a good deal when in fact you're charging them 28% interest or something like that, how could you not be in favor of such laws?  Where's the down side, unless you're a banker?  


The one thing I've learned from the financial crisis of '08 is that big business can't be trusted to do what's "right".  It's become so bad that as far as I'm concerned the burden of proof is on them to show me they're playing nice.  And to be fair there are a lot who do pass my smell test by honoring their warranties without resorting to loopholes and vague language that to a layman says one thing but legally means another, producing a clearly superior product, etc.   (Examples?....Amazon, REI, LL Bean, Zappos, to name a few.)  I consult Consumer Report regularly, and although I've never tried it, I've heard good things about Angie's List.  I just think it's a shame things have come to this.  Caveat Emptor...."buyer beware"....has never been more true.


What prompted this post was an article I read that told of one insurance company that was suing a bank for misrepresenting a financial instrument the insurance company was covering against default.  Sure enough things fell apart, the insurance company refused to pay up, and both are pointing fingers at each other saying the other side is a crook.  Hahaha....talk about the pot calling the kettle black!  I say a pox on them all.

~~~~~~~~~~~~~~

On a more pleasant note, tonight it's my turn to pick our date night restaurant, and I'm choosing Anamia's.  We've only been there once before, but it left a grand impression on me.  I can taste it now....yum!  If I can remember to take pictures of our meal before I dive into it I will. 

Happy Friday!

S 

There's a football game this weekend? Really?

Outside of the northeast, does anyone care about the Super Bowl this weekend?  I'm sure the fans in NY and Boston are going nuts, this being their dream matchup, but for the rest of the country it's just an excuse to eat football food for the last time this season and watch some (hopefully) funny/sexy commercials.  Oh, and what's her name?....Madonna.  (I think that's when I'll go to the bathroom.  Yes, my time is that strictly planned during the Super Bowl.)  Today I'm going to the grocery store to buy the ingredients K says she'll need for her smorgasbord.  


We're expecting some strong storms to come through north Texas this afternoon/evening bringing more rain (hey, I'm not complaining....we need it) and strong winds, and maybe even some hail, too.  I have a huge fear of hail.  Not physical fear, but fear of having to deal with the damage after it passes.  It tears up roofs and cars, necessitating dealing with the dreaded insurance company.  *ack*  I think I'd rather have a chest wax.  (Remember Steve Carell in the 40 Year Old Virgin?  OUCH!)


The new pooch is doing well.  He likes his food, plays 100 mph, then conks out and sleeps for 2 hours.  He's a daredevil, lemme tell you!  He jumps from couch to ottoman to dog bed, back and forth like a Ringling Bros acrobat.  It's hilarious!


Just got an AP news text....employers added 243,000 jobs last month, pushing unemployment down to 8.3%.  Excellent!


Y'all have a great Friday.  Let the weekend begin! :)


S

So where does all the money go?

With the general inflation rate in the low single digits, how come health insurance premiums are up 9% just this year?  In anticipation of O'bama Care?  

Must be nice!  I can't price in now the ill effects of the inflation I know is coming in a few years on building materials.  Competition won't allow me to.  Wages and salaries surely haven't gone up much as people are scared of getting a pink slip for even thinking of asking for a pay raise.

So why have health care costs gone up so much?  The doctors and nurses and insurance companies and pharmaceutical companies and hospitals and malpractice sharks, etc all point somewhere else.  "Not me!" they proclaim.  

All I know is I'm getting royally screwed and I'm still waiting for my kiss.  I've long since given up on the dinner and the movie.  ;)

S

What's good for the goose....

....should be good for the gander, too.

I recently read a report (unconfirmed) that 71 current members of Congress have credit scores too low to qualify for a credit card. This is interesting because there has been a controversy ongoing for years about who can see your credit score and how it can be used to help/hurt you.

For instance, insurance companies regularly look at your credit score, and if it's too low, they deny you coverage. They claim that people who are poor credit risks are more likely to have excessive claims. Many employers look at the credit scores of job applicants, claiming it is a good indicator of a person's character.

Here's my point: Why don't the voters get to see the credit scores of the candidates who are seeking our votes? If it's really a good indicator of a person's character, how come we have 71 members of Congress who are so sleazy? Ya think maybe we should have asked to see theirs before we elected them?

And if our congresspeople refuse to divulge their scores, shouldn't they vote to prohibit the use of credit scores by others such as insurance comapnies, prospective employers, etc? Fair is fair!

These days, thanks to the inept leadership we've received from Washington and the subsequent financial mess they've left us, there are lots of people with less-than-pristine credit. Fortunately mine is still excellent, but an accident, a serious illness, or a pink slip and who knows......?

S