Friday, February 26, 2010

Health Economists Urge Passage of Reform

Friday, February 26, 2010

An impressive panel of 88 Professional Health Economist sends a letter to Obama urging him to use reconciliation to pass a merged version of already passed Senate and House Health reform bills.
read whole article here

Thursday, February 25, 2010

Senate easily approves jobs bill; House passes health-insurance antitrust bill

Washington Post Article
By Ben Pershing and Perry Bacon Jr.

Thursday, February 25, 2010

Comment: It would seem that our congress is having the same problem grasping the whole Health Care Reform bill all at once that we are. By breaking it down into understandable smaller units we seem to see them actually working on getting it done. Who Knew? read actual article here

Sunday, February 21, 2010

Major Health Insurers raise rates after record profits

Sunday Feb 21,2010
Excerpts from an Editorial in The Tennessean
Tennessean staff writer Getahn Ward contributed to this report.

After a year (2009) of record profits Major Health Insurers are raising premiums to record levels
read whole article

Saturday, February 13, 2010

Economy Down, Health Insurance Industry posts largest Profits ever

February 12, 2010 6:39 p.m. EST
Topics: business, economy, business and finance, health, United States
Linda Young - AHN(All Headline News - Digital news media) Editor

Washington, D.C., United States (AHN) - While businesses and individuals struggled to cope with ever-rising health insurance costs, health insurance companies lined their pockets with profits of $12.2 billion in 2009 - an increase of 56 percent from 2008.

Those staggering statistics were revealed in a report by a coalition of liberal advocacy groups and labor unions, Health Care for America Now.

"The five largest U.S. health insurance companies sailed through the worst economic downturn since the Great Depression to set new industry profit records in 2009, a feat accomplished by leaving behind 2.7 million Americans who had been in private health plans. For customers who kept their benefits, the insurers raised rates and cost-sharing, and cut the share of premiums spent on medical care. Executives and shareholders of the five biggest for-profit health insurers, UnitedHealthGroup Inc., WellPoint Inc., Aetna Inc., Humana Inc., and Cigna Corp., enjoyed combined profit of $12.2 billion in 2009, up 56 percent from the previous year. It was the best year ever for Big Insurance," Health Care for America Now wrote in a statement on its Website.

Part of the shocking profits were made by dropping the sickest policy holders, Health Care for America Now noted.

In addition, although many people view health care as a necessity, health insurance companies price it like it's a luxury.

Health Care for America on its Website quoted Andrew Kurz, former chief financial officer of Wisconsin Blue Cross-Blue Shield as saying, "Insurance company profit margins put the industry in the top 10% of all industries, up there with cigarette manufacturers. Insurers price their products like a discretionary luxury, not something essential for health and well-being

Read more:

Thursday, February 11, 2010

Anthem BlueCross Increases Calif rates 39%

Anthem Blue Cross a division of WellPoint Insurance Company has announced a March 1 rate hike of 39% for individual heath insurance plans in California. see SF Chronicle Article here