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Anthem Blue Cross After Private Insurer Raises Rates 39%

post #1 of 6
Thread Starter 
How on earth can they do this?!

http://www.huffingtonpost.com/2010/0..._n_453723.html

Quote:
Health and Human Services Secretary Kathleen Sebelius is asking the largest for-profit health insurer in California to "provide a detailed justification" for expected rate increases that could hike its consumers' premiums as much as 39 percent.
post #2 of 6
39% increase is HUGE. But on the other hand, Americans are demanding more and more health care treatments without regard to cost. Someone has to pay for it.
post #3 of 6
Thread Starter 
Quote:
Originally Posted by annethcz View Post
39% increase is HUGE. But on the other hand, Americans are demanding more and more health care treatments without regard to cost. Someone has to pay for it.
But the price increase is not inline with the amount of profit they have made. The increase is way overboard.
post #4 of 6
Sadly, it doesn't surprise me one bit. I'm just glad someone is making them justify it.
post #5 of 6
I imagine the 'baby boomer ' demographic has some effect at pushing costs upward.

I was not happy with the health care reform Congress came up with but we need to do something. It's both an ethical and economic issue.

V
post #6 of 6
Yet another reason that health coverage needs to be divorced from proffits. While many people object to the government having a say in their health care they overlook the fact that many of the decisions for health care are currently made on a purely financial basis. Is that really better?

The exact same situation is mirrored with malpractice insurance. While insurance companies *say* they increase rates because legal cases increase their costs, analysis after analysis has said that those increased rates go to proffit, not insurance pay outs.

Quote:
"Your company's strong financial position makes these rate increases even more difficult to understand. As you know, your parent company, WellPoint Incorporated, has seen its profits soar, earning $2.7 billion in the last quarter of 2009 alone," Sebelius wrote.
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