ACC to be opened up to competition

[Brian d marge]

National and ACT have struck a deal over ACC reform that will see the Government investigate opening the work account to competition.
A press conference is expected at about 4pm to release details of the deal which clears the way for ACC Minister Nick Smith to introduce his stalled Bill to increase levies and reduce some entitlements.
ACC Minister Nick Smith confirmed the ACC Reform Bill will now be introduced next week.
"I am pleased the government has secured support for this critical legislation from both the Maori Party and from ACT that will see ACC's proposed levies reduced by half," Dr Smith said.






The only hope is that David Caygil is head of the steering Committee



Stephen

[Eng_dave]

OH UFCK Now we really are fucked!!! Look at the price of insurance in UK people because that's what we are heading for.

[Brian d marge]

feel the burn ,,,,,, ohhh yeahhhh

Stephen

[Damon]

were fucked now, surely they would have noticed by their last 9 years in exile that we don't like them dicing shit up, now they've been in for less than a year and their into it again, whats the bet they don't get in for a second term

[p.dath]

Ye hah! Bring it on I say. Give me the option to have private accident cover.

Don't buy it if you don't want it. Easy huh?

[NighthawkNZ:Me]

So does that mean they will drop the ACC lrvy on fuel?

[modboy]

Yea, well this is a complete construction isn't it. We'll make ACC be so unpalatable that the general public will be begging us to sell it off and privatise it.

Problem is no insurance company on the planet will buy an unprofitable business. So, the part that will be sold of (you can bet your fucking last dollar) will be the earners portion which is the only bit making a profit.

The non-earners fund - ie, ACC collected from road user levys won't be sold of private because that is the bit that no one wants.

Either way - I bet you - we lose.

[modboy]

Ye hah! Bring it on I say. Give me the option to have private accident cover.

Don't buy it if you don't want it. Easy huh?

We won't get that option - they'll sell off the earners levy part to private. So, employers will get the option to use private, as it was about 10 years ago before labour changed it.

Road user charges never changed over. The problem part of ACC - the non-earners levies won't change.

Privatisation I doubt will affect us.

[Azi Dahaka]

We have a old acc case manager working for us now and she noted that if it goes out for competition the private companies will say you have in the case of physio four sessions to get a person back to work where acc gives up to 10 to make sure the person is properly healed and doesn’t lapse.

So this only means that if we get hurt we will be a lot worse off because we wont get better treatment. Just remember ACC isn’t at fault guys they all do a good job is it is GOVT and the fat cat CEO that are at fault.

[slofox]

I was an employer last time ACC was privatized and later de-privatized.
Both of these shifts ended up increasing my costs as an employer. There is no way privatization will lower costs - don't fool yourselves kiddies, it ain't true.

We should not be surprised at this move. National, after all, is the party of business and capitalism. There's no secret about this - that's the sector they represent. So be not surprised when they act in the interests of the business sector. If we vote such a party in, we must expect them to be true to their interests - just as any other party of any other colour would be.

[NighthawkNZ:Me]

Problem is no insurance company on the planet will buy an unprofitable business. So, the part that will be sold of (you can bet your fucking last dollar) will be the earners portion which is the only bit making a profit.

Thats just it ACC banked 1 billion last year as profit, it has 11 billion in the bank

ACC isn’t losing money. Its revenues were $4.5 billion – $1.5 billion more than it spent on claims this year. $500 million of that extra is operating costs, the other $1 billion was added to ACC’s investments but changes to predictions of the future costs of current claims pushed out that target even further – by $5.7 billion. So, getting to being fully funded is $4.8 billion further away than it was before..

[p.dath]

We have a old acc case manager working for us now and she noted that if it goes out for competition the private companies will say you have in the case of physio four sessions to get a person back to work where acc gives up to 10 to make sure the person is properly healed and doesn’t lapse.

So this only means that if we get hurt we will be a lot worse off because we wont get better treatment. Just remember ACC isn’t at fault guys they all do a good job is it is GOVT and the fat cat CEO that are at fault.

If you want more cover - then pay for it. If like me you think you'll only need physio once in a blue moon, then take the cheaper option which only gives you 4 sessions - and pay for any extra you need out of your own pocket.

[p.dath]

Hay this is pretty simple. If you think an insurance company is going to make squillions out of running accident cover - then buy shares in them, and enjoy getting a great dividend.

If you don't think this is the case, then continue to enjoy the premiums you are paying know that no one is profiteering.

[Azi Dahaka]

That was merely an example I was merely noting that acc cares about healing the person as per say where a private company will only care about making profit. Though I may just be full of shit.

[p.dath]

That was merely an example I was merely noting that acc cares about healing the person as per say where a private company will only care about making profit. Though I may just be full of shit.

A private company is interesting in minimising costs to maximise profit.

ACC has no motive to minimise costs. Just look at the massive administrative cost they have!