Monday, February 1, 2010

Health Insurers Boom


One patient informed me today that her Anthem Blue Cross insurance premium went up by $89.00 this month. She is responsible for a large up front deductible and she is (thankfully) healthy and ends up paying out of pocket for her health care because she seldom meets the deductible.

A 2nd patient sent me this from the Wall Street Journal:

UnitedHealth Group Inc.'s fourth-quarter earnings rose 30%, helped by prior-year litigation-related charges, higher enrollment than the company expected and subsiding costs related to the H1N1 flu outbreak.

The company reported a profit of $944 million, or 81 cents a share, in the fourth quarter, compared with $726 million, or 60 cents, a year earlier. Results for the prior year included $350 million in litigation settlement-related costs.

With the failing economy I guess we should be happy that there is an industry that is booming. Unfortunately it is booming at the expense of the customer paying outrageous premiums.

It turns out that the CEO of United Health Care makes $102,000/hour.

9 comments:

Anonymous said...

Blue Cross Antham raised everyone's rates across the board today.

On United Health Care's CEO that is disgusting!!!

Healthnut said...

Actually Blue Cross HMO policy holders should read their policies carefully. For the first time, the co-pay on prescription drugs is higher than the co-pay of doctor visits. And if a patient wants name brand as oppose to generic, the co-pay is even higher plus one will need to pay the difference between name brand less generic.

In addition not all drugs are covered. The "non-formulary" remains a mystery.

Veronica Waks MD, ND said...

i do not except health insurance anymore. i think that what happens to insurances is good! people have to understand, that the insurances are getting reacher because they are taking money out of their pocket. i'm not sure that there is any other way to bring public attention to that fact. do you?

beauty therapy courses said...

There lots of health insurance this days, make sure you know the policy's and coverage of the insurance they offer.

Elaine Schattner, M.D. said...

The costs of insurance administration are shocking and unaffordable. The U.S. can't afford for this to continue.

If more people knew how little most doctors, especially primary care physicians, are paid for their hard work and real medical care, there would be greater support for reform, maybe even for a streamlined, single-payer system.

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