Are You Sure You Don’t Want National Health Care Coverage?
Health care took a major beating last year in this country. Sure, I understand that the first thing the President should have concentrated on is the economy, most specifically jobs. I also understand what his position was on health care. I don’t know that either he or the Democrats in Congress explained well enough what the issues were, and the other side didn’t even try. They just wanted to beat it down because it was a Democratic proposal. Sure, I thought what was presented later on was lacking, and probably not the best plan in the world, so I’m not upset it collapsed. But at some point we need to seriously consider health care for all in this country.
Why? Two big things have come out over the past week, and both trump my recent post on Medicare Advantage Plans.
The first concerns Wellspring in California, which is also known as Anthem. It was reported that there’s going to be a rate hike of their premiums that could be as high as 39% for some of their subscribers. What they’re blaming it on, oddly enough, is that more younger people have dropped insurance coverage because it was too expensive or they just determined they didn’t want it, which leaves less money for those who are left, who are supposedly sicker, so they need to raise more money. This is a moronic thing and for them to think anyone believes it is insulting. The why it’s insulting is contained in the next paragraph.
The second thing that came out this week is that across the country, health insurers enjoyed 56% profit margins while the rest of the country’s industries suffered drastic losses. The five largest health insurers enjoyed profits of $12.2 billion. Wellspring, whom I mentioned above, recorded a profit of 91%; you saw that right, 91%!. You can bet they didn’t pass any of that money on to hospitals, otherwise it wouldn’t have been profit. And the number of people they stopped covering dropped only 3.9%; doesn’t seem like much of an offset, does it? This has prompted a call for the CEO of Wellspring to show up and talk to Congress as to how they can justify all of this.
By the way, Wellspring wasn’t even the biggest profiter in the group. Cigna’s profit increased, ready for this… 346%! Humana “only” increased a measly 61%.
I ask one more time, you sure you don’t want any kind of health care reform?