Health insurers defend profits

[TomCADem]

Source: Courier-Journal

Despite a struggling economy, the nation's five largest health insurance companies increased their profits by a combined 56 percent last year, to $12.2billion, even as they lost nearly 2 million members.

But as Congress considers health care reforms, those profits and Anthem's premium increases of up to 39 percent for some California members have intensified criticism of the industry.

“At a time when the economy's in the toilet and businesses are struggling, these insurance companies have a banner year — the biggest year on record,” said Richard Kirsch, national campaign manager for Health Care for America Now!

The coalition of liberal health-care activist organizations released a report this month scolding “Big Insurance” — WellPoint (Anthem's Indianapolis-based parent company), UnitedHealthcare, Cigna, Aetna and Humana — for its latest profits and for “relentlessly” raising premiums.


Read more: http://www.courier-journal.com/article/20100220/NEWS01/2200368/1008/Health+insurers+defend+profits

[rfranklin]

1. There is no option here...they must be regulated seriously...

These companies are not adding any value. They are merely extractive in nature.

[Vinca]

2. Well, when you think about it, they're doing what private companies should do:

make money for their stockholders. That's why private companies should not be tied to the health of the people. It's not rocket science.