Health Insurers Post Record Profits

Post by **Linnea** » 02-13-2010 05:02 AM

Well, this is disgusting...

...from ABC News - Feb 12th, 2010

Insurance Firms Rake in Profits as They Cut Patients, Advocacy Group Says

In the midst of a deep economic recession, America's health insurance companies increased their profits by 56 percent in 2009, a year that saw 2.7 million people lose their private coverage.

The nation's five largest for-profit insurers closed 2009 with a combined profit of .2 billion, according to a report by the advocacy group Health Care for American Now (HCAN).

"The outsized earnings are a vivid reminder that without comprehensive national health care reform, the gatekeepers of our broken health insurance system always will put the short-term interests of Wall Street before the needs of millions of patients and a national economy plagued by joblessness," the report said.

http://abcnews.go.com/Health/HealthCare ... id=9818699

OMG · Post by **OMG** » 02-14-2010 10:51 AM

Doesn't that just warm your heart (hope you have warmed heart in your insurance package)

They got their money worth paying off people to vote for what they want and to others spread the propaganda they want over the air. And had a bunch of teaparty people repeating it on the ground.... For free.

SETIsLady · Post by **SETIsLady** » 02-14-2010 12:12 PM

And now Blue Cross is set to hike their rates by 39%, although after reading this morning they have put a temporary halt on this increase. But I am sure its temporary. With any luck these people will price themselves right out of the market, but thats wishful thinking on my part.

As long as these insurance companies have investors to answer to, people will die, people will be denied coverage and people will pay premiums only to be dropped when they need the insurance the most. Because you don't make money paying out claims.

This is all very disheartening

Post by **Linnea** » 02-14-2010 07:20 PM

This 'health care' industry is just not sustainable. Much like sub-prime mortgages, derivative bundling schemes, etc - there is a health insurance 'bubble' that is about to burst.

Elements of the health care industry, including insurers, hospitals, pharma, medical equipment, and so on - are all clamoring for a larger share of the money pot. All this, of course, does not equate with actual health care delivery.

It's going bust...

Bobbi Snow · Post by **Bobbi Snow** » 02-14-2010 09:03 PM

My individual plan with Anthem Blue Cross just went up $429, beginning March 1st. Now the monthly premium is $1789/month WITH a $2K deductible ($500 more than it has been). Otherwise, it would have been nearly $1900/month. I guess they want to squeeze every last penny out of anyone who has been on prescription drugs or had surgery in the past 2 years, especially those of us who will be eligible for Medicare, next year. Last chance to fleece the flock!!!:mad:

Corvid · Post by **Corvid** » 02-14-2010 11:44 PM

OMG wrote: Doesn't that just warm your heart (hope you have warmed heart in your insurance package)

They got their money worth paying off people to vote for what they want and to others spread the propaganda they want over the air. And had a bunch of teaparty people repeating it on the ground.... For free.

"Warm heart" is a pre-existing condition. No coverage for you (of course they will take your money but will deny your claim).

DeathValleyScotty · Post by **DeathValleyScotty** » 02-15-2010 01:17 AM

This is what leads me to believe that we don't need health care reform. We need health INSURANCE reform. The basic underlying problem is that the health insurance providers drive the physicians as to what procedures the insurance providers will pay for. If you need a procedure that is not covered by your insurance, so sorry. You pay the insurance policy premium PLUS the cost of any procedure that is not covered.

It really gripes me when the physician makes a professional decision about what needs to be done and some bozo sitting behind a desk at the insurance company tells the doctor that he can't do that.

I say reform the insurance companies not the doctors. The doctors are the professionals.

Corvid · Post by **Corvid** » 02-15-2010 02:09 AM

Bobbi Snow wrote: My individual plan with Anthem Blue Cross just went up 9, beginning March 1st. Now the monthly premium is 89/month WITH a K deductible (0 more than it has been). Otherwise, it would have been nearly 00/month. I guess they want to squeeze every last penny out of anyone who has been on prescription drugs or had surgery in the past 2 years, especially those of us who will be eligible for Medicare, next year. Last chance to fleece the flock!!!:mad:

Yes.... fleecing the flock.

Or harvesting (stealing) honey from the bees. Every time there is a sufficient crop of honey in a Savings and Loan or a retirement account or even in social security it seems the regulations are relaxed or suspended and the honey is gone.

Poor bees.