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nails

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Michigan Catastrophic Claims Association
« on: July 07, 2017, 06:04:04 PM »

I see we just got another $10 raise to the MCCA insurance supplement. Only in Michigan can we have an organization with over $14,000,000,000.00 in reserve funds, and still need to raise more money. Yes, that was $14 Billion and it was from 2012 figures. Even if they only get 4% interest, thats over $5,600,000. annually from interest alone.

http://detroit.legalexaminer.com/automobile-accidents/michigan-catastrophic-claims-fund-has-billions-in-reserves/

And to top it off, they are more secretive than the Russians. They are also protected from having to disclose their financial books to the public. FOIA doesn't apply. We have no way of knowing how they calculate these rates.  If they're a public group, we should know what we are required to be paying for. If they're a private group, why do we have to subsidize the mega-profitable insurance companies.

Anyone else see anything wrong with this?
« Last Edit: July 07, 2017, 06:10:07 PM by nails »
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blue2

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Re: Michigan Catastrophic Claims Association
« Reply #1 on: July 07, 2017, 06:42:50 PM »

Our lawmakers are failing us.  They force us to pay into the fund. The fund manager should be accountable..
Lawmakers should eliminate this scam..
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BigRedDog

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Re: Michigan Catastrophic Claims Association
« Reply #2 on: July 07, 2017, 07:47:23 PM »

I suspect this latest 'raise' is an 'in your face' bit of revenge for them having to continue to do all the lobbying and 'work' to keep all of their information 'secret' over the last few years. 

This is a situation where you need to talk to your legislator...  we all have to do it until we can get enough of them to agree to reverse the current protection that the MCCA is receiving from those very same legislators :( :( :(  I'm guessing nothing will ever change until there is a ballot initiative / referendum from the voters.  This is certainly one of the biggest reasons I've seen lately for going to a part time legislature...

the less time they're there the less damage they can do to their constituents >:( >:( >:(

https://ballotpedia.org/Michigan_2016_ballot_measures
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Monroe Native

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Re: Michigan Catastrophic Claims Association
« Reply #3 on: July 07, 2017, 09:57:49 PM »

I think they want to get it up to 20 or 30 billion in reserves....  and then the State will do away with No Fault and pocket the money into the General Fund somehow.

Maybe this is how they plan on fixing the Pension mess at the State level.

The Auto Insurance "Tax."
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blue2

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Re: Michigan Catastrophic Claims Association
« Reply #4 on: July 07, 2017, 10:15:16 PM »

People, don't laugh at that.   The only reason it's still going is the legislature has its eyes on the fund.. They will take it and there isn't much we can do. Perhaps a law suit
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Professor H

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Re: Michigan Catastrophic Claims Association
« Reply #5 on: July 08, 2017, 06:49:13 AM »

I wish the legislature would grow a pair...   it seems 14 Billion buys a lot of votes
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Marion Berry

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BigRedDog

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Re: Michigan Catastrophic Claims Association
« Reply #6 on: July 08, 2017, 09:53:29 AM »

People, don't laugh at that.   The only reason it's still going is the legislature has its eyes on the fund.. They will take it and there isn't much we can do. Perhaps a law suit

I'm not attorney enough to know if it would be possible for the state to take the money back.  When the legislature (of many years ago) created the MCCA I don't know if there is any provision for dissolving it in the future (now) and if so what would happen to the current slush fund. 

The legislature can maybe change the no fault law but not sure what would happen with the MCCA. 

My guess is back when it was created they weren't looking forward enough to be dissolving it.
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Professor H

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Re: Michigan Catastrophic Claims Association
« Reply #7 on: July 08, 2017, 02:46:46 PM »

With free healthcare for all on the horizon - it's not a necessity anymore.   Pre-existing conditions - no problem...   

Problem is its a cash cow for the healthcare industry - as they pay whatever price is charged!  No deals or negotiated savings from them...     that $30k write down for BCBS  -   Nope - they are willing and happy to pay whatever the bill is... 

Hey its only taxpayer money - why does anyone need to know what they are doing with it  8*
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First, it was not a strip bar, it was an erotic club. And second, what can I say? I'm a night owl.
Marion Berry

But we have to pass the bill so you can find out what is in it, away from the fog of the controversy.
Nancy Pelosi

Monroe Native

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Re: Michigan Catastrophic Claims Association
« Reply #8 on: July 08, 2017, 05:17:19 PM »

No fault insurance is a shining example of how the Government creates market distortions which cost the consumer money in both what they are forced to purchase and how it is delivered.

We are the only state that has an "unlimited" medical coverage - and one that is "mandatory. 

Everytime they talk about getting rid of it the lawyers, hospitals, lobbyists of all types line up to make sure that cash cow doesn't go away.

The second distortion is how the tell us this service "must" be delivered to us.  Can we go chose a company to buy an unlimited policy from?  Have all the companies compete together on who can deliver this level of service the cheapest?  Heck no!

The government decided THEY could do it best - and they would just demand whatever amount of money the actuaries said from all of US to make that happen.  Isn't that nice?  There goes the ability of me to find a company that can negotiate a better rate with providers.  Nope - I am held hostage to who can pay the biggest bribe to corrupt the lawmakers to keep this little scam alive.

You can't tell me that at a bare minimum they can't tie the compensation to the providers to the Workmen Comp tables?  What BCBS negotiates for the same procedures?  Something other than full price?

How about charging a fee for how many licensed drivers are on a policy - not how many vehicles are on it?  I mean - you can only drive one car at a time.....  just saying.  My company gives me a pretty hefty price break for that "pleasure" car.  Does the Surcharge go down for the pleasure car?  Nope.  Not at all.  It is full price here in the Motor Car state.

What a joke. 
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I have learned that only two things are necessary to keep one's wife happy. First, let her think she's having her own way. And second, let her have it.
Lyndon B. Johnson

You do not examine legislation in the light of the benefits it will convey if properly administered, but in the light of the wrongs it would do and the harms it would cause if improperly administered.
Lyndon B. Johnson

Professor H

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Re: Michigan Catastrophic Claims Association
« Reply #9 on: July 09, 2017, 03:43:18 PM »

What I find interesting on the whole set up, is that no attorney has been able to crack the privacy of public funds... 

It should be a class project for any Michigan Law school... 
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First, it was not a strip bar, it was an erotic club. And second, what can I say? I'm a night owl.
Marion Berry

But we have to pass the bill so you can find out what is in it, away from the fog of the controversy.
Nancy Pelosi

blue2

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Re: Michigan Catastrophic Claims Association
« Reply #10 on: July 09, 2017, 04:07:01 PM »

About the only way it's going to be opened up or eliminated is for citizens to harass their representatives.  But we know that won't happen.
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Monroe Native

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Re: Michigan Catastrophic Claims Association
« Reply #11 on: July 09, 2017, 07:57:09 PM »

What I find interesting on the whole set up, is that no attorney has been able to crack the privacy of public funds... 

It should be a class project for any Michigan Law school...

But it is a "Private" public corporation Prof.....

It has to be public so the State can steal the fund from the rate payers as soon as they decide to "fix" it.

It has to be private so no one can see what they are doing.

You gotta love it.
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I have learned that only two things are necessary to keep one's wife happy. First, let her think she's having her own way. And second, let her have it.
Lyndon B. Johnson

You do not examine legislation in the light of the benefits it will convey if properly administered, but in the light of the wrongs it would do and the harms it would cause if improperly administered.
Lyndon B. Johnson

Professor H

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Re: Michigan Catastrophic Claims Association
« Reply #12 on: July 10, 2017, 12:03:35 AM »

I've read of the failed attempts to get them to open up the books... 

Wonder why no one ever challenged them on this aspect...   if they are going to pay whatever is charged in auto cases - and stick us with higher costs - why do they get to cut deals on other types of claims -  they should be forced to pay the entire bill on everything and then see how quickly the legislature fixes that error... 
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First, it was not a strip bar, it was an erotic club. And second, what can I say? I'm a night owl.
Marion Berry

But we have to pass the bill so you can find out what is in it, away from the fog of the controversy.
Nancy Pelosi

blue2

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Re: Michigan Catastrophic Claims Association
« Reply #13 on: July 10, 2017, 10:30:59 AM »

And you have to wonder how many people in Detroit that don't even pay for car insurance are collecting big rewards.
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nails

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Re: Michigan Catastrophic Claims Association
« Reply #14 on: July 10, 2017, 11:11:16 AM »


And you have to wonder how many people in Detroit that don't even pay for car insurance are collecting big rewards.

That is a very scary question !

I can't see them changing any of this without a fight.
We are the ones paying whatever is asked.  And it's a law that we must pay to drive.

At what point do you think someone will say,
 "We have enough money from the insurance paying public, so we won't charge anymore."
They won't.

Think about this . . . they have over $14 Billion dollars in reserve, but they won't say how the formula is applied. And they still need more.

Something is smelling very bad here.

The more I think about it, the more pizzed I get.
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Just conversation . . . and maybe a little instigation . . . for your rumination.

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