The Reasoned Review

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Health Insurance Industry to Consumers: Screw You!

with 3 comments

(c/o Kevin Drum)

Mr. Drum makes a nice find in today’s LA Times. The health insurance industry knows, of course, that if and when health care reform passes, they’ll see a massive new influx of customers, as America’s 45 million uninsured become required, by the stroke of a pen, to purchase a health plan from them. So what do they do with that knowledge?

They jack up their prices.

Some excellent reporting from the LA Times:

Health insurers across the country are dramatically increasing rates and slashing benefits for many of the estimated 17 million consumers with individual insurance policies, while making it almost impossible to obtain affordable alternatives.

The problems have captured national attention as President Obama steps up his campaign in Washington for a healthcare overhaul and Congress investigates rate hikes of as much as 39% by Anthem Blue Cross in California.


The money quote:

“A lot of what you see today is a product of the way the market works,” said Robert Zirkelbach, a spokesman for America’s Health Insurance Plans, the industry’s Washington-based lobbying arm. “The market is broken. Those people who do need the coverage wind up covering the cost of everyone else.”

When the spokesman for Big Insurance tells you the market is broken, I think you had better listen to him. Maybe all those “tea party” protesters fighting against “Obamacare” and “Obamnuism” ought to take note.

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Written by pavanvan

February 21, 2010 at 10:17 am

3 Responses

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  1. I’m tired of this health care controversy. Can somebody just put an end on it?

    Maxine

    February 22, 2010 at 8:46 am

    • It looks as though the “republicans” are attempting to do just that. Patience, my dear, patience! It’ll all be over soon, and we’ll all be further in the palms of the insurance industry.

      pavanvan

      February 22, 2010 at 9:24 am

  2. […] may remember the California Anthem Blue uproar that occurred a week or so ago, wherein they arbitrarily and unilaterally jacked up their prices […]


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