insurance company profits up 41 percent
health subcommittee chairman calls insurers to pass excessive profits on to customers by cutting premiums
By Chuck Smith-Dewey
November 15, 2010
Rep. Pete Stark (D-Calif.), chairman of the House Ways and Means Health Subcommittee, has sent a letter to the top ten for-profit health insurance companies demanding they pass their excessive profits on to their customers by lowering premiums.
http://www.healthinsurance.org/blog/201 … 1-percent/
Of course their profits are going to be up. I saw this coming.
This is a prime example of why healthcare needs to be reformed!
Maybe they should check first to see what percentage of the profits were due to people who rushed out to buy health insurance before the government's fine/penalty for not carrying it would kick in. Some Americans, if given the choice, would rather have the freedom to decide to pay outrageous amounts to a company they can choose instead of paying outrageous amounts to a government they may not be able to trust if the next election doesn't go the way they want it to.
...on another note in relation to insurance....at work, i just purchased better commercial liability, contents/building insurance and d&O insurance....switched agents with a much larger portfolio of plans to access and the premium was less than 50%...i figure a couple of the big insurance co's have looked at how they've assessed risk and have a made an adjustment...that's a huge savings for me....Canada. in the past 5 years this kind of insurance has been increasing at about 10% per year...and now this huge decrease....and better insurance coverage.
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