Health Ins. Profits up 428%! 8 Double-Digit Premium Increases in 10 Years

This is why we need health insurance reform and in my opinion, a public option. Healthcare in this country is a for-profit business and the sicker we are, the more they make. That's why they WANT us to stay sick and why we NEED reform in the worst way.

If a public option puts insurance companies out of business, so be it. Corporations shouldn't be making people's health into a business anyway. This is ridiculous!

From 1999 through 2008, average U.S. workers' earnings rose by a total of 34 percent -- barely above core inflation. So, if you made eight bucks an hour in 1999, you'd be making about 10 bucks and six bits now for the same work -- if you still have a job.

Now get this: During the identical period, average health insurance premiums went up 119 percent. Just since 2002, premiums have increased by 87 percent. Furrow your brow. Over the last seven years, the top 10 insurance companies' profits went up by a whopping 428 percent. Are you getting the picture?

The premium for a family of four is about $12,700 per year. Figure 52 weeks at 40 hours per week. That's $6.11 per hour you're paying -- you or your employer. The National Coalition on Health Care estimates that by 2018, absent health care reform, coverage for a family of four will hit $25,000.

Source

There is a health insurance company in Maine that has a monopoly on the health insurance business in the state. Over the past 10 years, they have had 10 premium increases, 8 of them being double digit increases and some over 20%! And now they want to raise them again, but the state said "Enough"! So, now, they're suing the state!

Anthem Health Plans of Maine, a subsidiary of WellPoint, is suing the state because they want to increase premium rates by 18.5% on their 12,000 individual insurance policy holders, so they can guarantee themselves a 3% profit margin. This story shows how silly it would be to solely rely on regulation to rein in insurance industry practices.

Like many other states, Anthem Health Plans hold a monopoly on the individual insurance market in Maine, controlling 79% of all the plans. Also like many other states, they are licensed to sell insurance through the Department of Insurance, who must clear all rate increases prior to implementation. Originally, Anthem Health Plans were a nonprofit Blue Cross and Blue Shield corporation licensed to practice in Maine since 1939. In 1999, Anthem bought the business and began to operate it as a for-profit company. Since that point, Anthem has raised premium rates 10 times, and 8 of those times have been double-digit rate increases.

Jan-99: 20.4%
Nov-99: 15.7%
Jan-01: 23.5%
Feb-02: 12.7%
Jan-03: 3.4%
Mar-05: 14.5%
Mar-06: 16.3%
Jan-07: 16.7%
Jul-07: 1.3%
Jan-08: 12.5%

Wellpoint Sues the State of Maine to Raise Premiums 18.5%

[edit on 7-10-2009 by Benevolent Heretic]

The same gov. that brings you the Katrina debacle the Iraq war and many other things I don't want to go into.

Who in there right mind would want what there passing out.

I want the economy to get better so I can get a raise and better health coverage.


I can buy better when the regulations that prevent me from choosing who I get my health care coverage from.


Even Wolf Blitzer gets it watch and learn.

s190.photobucket.com...



[edit on 7/10/09 by Arkansas]

[edit on 7/10/09 by Arkansas]

reply to post by Benevolent Heretic


My insurance rates have also been steadily increasing. With the profit margin they already have, there is no excuse for it, other than just greed.
Blue Cross has the monopoly in my state, and they can do as they wish. They are very good at "fighting" with the physician over what is best for the patient. So many times I have seen people discharged so prematurely from the hospital (because of insurance's limit on how long they can stay), that the person was back in the emergency department via ambulance after less than 24 hours of discharge.

The President has also indicated he wants to clean up this big business by ending the "preexisting condition", and preventing them from dropping individuals citing only dubious circumstances, or in other words, circumstances which cost them too much money.

There was an interview with a woman on television, who stated she had a severe break to her arm, and her doctor said it would take three surgeries to correct it. She had the first two, but when she returned to have the third, the insurance company said it was a "pre-existing condition", and refused to pay for it.

If that were not so pathetic, it would be laughable.

They need to be stopped, and so do the drug companies. Our huge pharmaceitical corporations are just as bad in their skyrocking profits...if not worse. They are not meeting standards of clinical trials in some cases, but nonetheless being approved to market the drug.

The insurance companies, the drug corporations, the FDA.

In cahoots?

Originally posted by ladyinwaiting
reply to post by Benevolent Heretic

 

So many times I have seen people discharged so prematurely from the hospital (because of insurance's limit on how long they can stay), that the person was back in the emergency department via ambulance after less than 24 hours of discharge.

"So many times I have seen ....", I highly doubt your claim here. What, do you stand outside of hospitals and take polls? Question why people are returning to the hospital so quickly?

Despite the Health Care issue, I can't stand when people over exaggerate things.

Originally posted by Arkansas
The same gov. that brings you the Katrina debacle the Iraq war and many other things I don't want to go into.

Who in there right mind would want what there passing out.

I want the economy to get better so I can get a raise and better health coverage.


I can buy better when the regulations that prevent me from choosing who I get my health care coverage from.


Even Wolf Blitzer gets it watch and learn.

s190.photobucket.com...



[edit on 7/10/09 by Arkansas]

[edit on 7/10/09 by Arkansas]

Wow, I did not know insurance companies were not allowed to compete nationally. That explains the problem right there. The costs would go down if they were to compete in all 50 states. Thanks for the link to the video.

It's all starting to make sense now. It looks like the government wants to take over the health insurance business so they can have another pool of money in which to draw from and spend.

[edit on 7-10-2009 by cloakndagger]

Originally posted by Quazze
"So many times I have seen ....", I highly doubt your claim here. What, do you stand outside of hospitals and take polls? Question why people are returning to the hospital so quickly?

Do you doubt my claim that my niece died because she was discharged too early and developed a staph infection and didn't make it back to the emergency room in time?

The health insurance business is a huge rip off.

Guess what people get ready because when health insurance become mandatory and without public option the profits for the health insurance business is going to make the big oil barons profits look like pocket change

Is nothing more profitable that mandatory gouging on the tax payer and hard workers in the nation.

We are going to be all deceived by our own government.

We the people will have not choices but the ones the insurance business will allow us to have.

Wake up America, no public option for everybody to chose means not health care reform and a win for private insurance.

reply to post by Quazze


I have had different jobs in which people are ill frequently, in one way or another, so I probably see more of this than some others might.

Originally posted by marg6043
Wake up America, no public option for everybody to chose means not health care reform and a win for private insurance.

I totally agree with you Marg! What do you think of Ron Wyden's Plan?

Summary Here

Text Here

reply to post by Benevolent Heretic


I heard about a few bills in congress BH, but the problem is that none of them or the majority of them that actually talks about a fully government funded public option.

Without a public option that every American regarless of income can quilify for it, is not going to be any significant reform in the nation.

The whole deal with the Obama care is socialized is nothing but a big joke at our expenses, Obama is not socializing anything but so far the win is for the private insurance business that will have a steady money gravy train when the health care is mandatory.

Wyden's helathy Americans act is just sugar coating the same thing that the other bills, making mandatory to buy health care from private insurance,

then force the rest of the nations tax payer to pay subsidies for those than can not afford it, he wants to give checks to those that can not pay for it,

That will be the biggest burden on the rest of the nations tax payer and to the growing debt deficit.

Still medicare and medicaid will still be allow to stay with not significant reform and we still paying for it in addition to the tax income that will go to those that can not fall under medicare and medicaid

I call that double dipping the tax payer in the nation and still been force to pay for private health care insurance.

You know my husband is a Retired Marine, I should careless what is going on with the health care reform as we still will be covered under goverment health care, even when we still have to pay yearly to fall under tricare humana, because is not free.

But on top of that, we still pay for medicare and medicaid as any person in the nation that makes a check and we will have to pay additional tax for those under the bill that doesn't fall under medicare but neither can afford health care.

Without a public obtion is not going be nothing beneficial for anybody in this nation but the private health insurance that will be getting a steady source of income with governmetn madate.



[edit on 8-10-2009 by marg6043]

I didn't see anywhere in the article where it posted exactly what the profit lines were. I am curious to know. I'm betting they didn't post the actual profit number because it sounds much more outrageous to say the profit went up 400some% than to give the actual numbers.

the republicans care about helping the wealthy and corporate, not about the average american. everybody is talking about how the democrats can't get this passed...but few people talk about how the republicans want the insurance companies to come out ahead, and to hell with the people.

why aren't we holding republicans responsible for their utter lack of concern for making sure everyone can have afforable healthcare, rather than just giving them a pass. there are 40 of them in the senate, who represent tens of millions of people hurting on this issue, and they have shown they could care less.
the republican congressmen have their own heathcare, so F everybody else. why should anybody respect these slimebags or even listen to them.
at least the democrats are trying to help the people of this nation not die or go bankrupt from lack of healthcare.

[edit on 8-10-2009 by jimmyx]

reply to post by jimmyx


Yes, please blame the Republicans for stopping health care when the Dems currently have ALL THE VOTES they need to pass it.

Right now, nobody is stopping the Democrats but themselves.

Originally posted by jjkenobi
reply to post by jimmyx

 

Yes, please blame the Republicans for stopping health care when the Dems currently have ALL THE VOTES they need to pass it.

Right now, nobody is stopping the Democrats but themselves.

Well, if the GOP perhaps engaged in the discussions, as opposed to, say, slamming every thought, plan and idea regarding the criminal treatment of the people of this Country by the big-business profit driven insurance companies, who collect Billions in profits every year, yet contribute nothing to the health of the Nation.

The GOP has been nothing shy of an obstacle.

The lies, the deceit, the deliberate misinformation they shout to the people, to confuse and frighten them.

Originally posted by jjkenobi
Right now, nobody is stopping the Democrats but themselves.

I must agree. If Obama wants the real health insurance reform that he promised, he should take the Democrats and run with the program he wants and FORGET about bipartisanship. It's not going to happen because they ONLY want him to fail. And they're going to get what they want, because anything less than his original idea is going to be a failure as far as everyone is concerned. Everyone, that is, except for the health insurance corporations.

I don't know if Obama's just stubborn, dense or naive... or maybe all three. (And of course, there is the possibility that he's evil...) But he's going to come out of this with a piece of crap legislation that does nothing to help the people of this country, doesn't have a real public option and probably raises our premiums in the end. It's going to be total crap. And all because his highest priority is to be seen as the man who brought Congress together to make a bill. It's very frustrating. And he'll be a one term president because of it.

reply to post by Benevolent Heretic


Exactly, remember he did supported private option in the beginning, but the problems is that the lobbying is so strong while the voters are complaining that neither republicans or democrats wants to make their benefactors unhappy or the voters angry.

Forcing mandatory private health care is deceiving and unconstitutional regardless and will be challenged.

The public should never be forced to support a private entity with congress mandate, people have not clue how big this issue truly is.

Yes, he not only supported the public option, it was a necessary part of the plan. And he still supports it, but I think he's willing to "compromise" it away to get a bill passed and that is totally disappointing to me. :shk:

Originally posted by marg6043
Forcing mandatory private health care is deceiving and unconstitutional regardless and will be challenged.

I agree. I wouldn't be against forcing PUBLIC health insurance, because everyone gets sick and those who are paying for insurance shouldn't be forced to pay for the health care of those who aren't. But if we're going to work within an insurance-based system (which I disagree with, but that's another thread) everyone should have insurance that they can afford with an option to buy the public insurance.

reply to post by Benevolent Heretic

Do you doubt my claim that my niece died because she was discharged too early and developed a staph infection and didn't make it back to the emergency room in time?

I am so sorry to hear about your niece. However do you think Government run insurance will be any better?

reply to post by marg6043

Guess what people get ready because when health insurance become mandatory and without public option the profits for the health insurance business is going to make the big oil barons profits look like pocket change

I think you are exactly right. Throw in a sub par "public option" allowing more Government intrusion and higher taxes and everyone wins (assuming you are of the Insurance industry or Government).

I could care less about the "health care reform" proposals as long as I am not forced to participate and am able to retain my rights.

Originally posted by uaocteaou

The GOP has been nothing shy of an obstacle.

Which is exactly what they should be doing - voicing the opinion of the people who elected them. That is their job. My state representative better fight the health care bill with every breath because if he doesn't he is out next election.

If Dems go ahead and push this thing alone good for them. A majority of Americans elected them and it would server them right - even though now polls are showing the majority don't want it.

I will survive either way.