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.
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