Health Insurers Rake in Mammoth Profits

Senator Bernie Sanders of Vermont reported today that the five largest health insurance companies posted $12.2 billion in profits last year, 56 percent more than 20008.

In a study of public records Health Care for America Now  found that WellPoint Inc., UnitedHealth Group, Cigna Corp., Aetna Inc. and Humana Inc. covered 2.7 million fewer people than they did the year before.  Some of the insurers actually cut the proportion of premiums that went to medical care and put more into salaries and profits. 

WellPoint’s profit margin of 7.2 percent was the highest of the five big insurers.  Anthem Blue Cross, a California subsidiary of WellPoint, has come under fire for jacking up premiums by as much as 39 percent this year on some individual health policies.

2 responses to “Health Insurers Rake in Mammoth Profits

  1. My secondary insurance is union provided[SAG] Southern California Anthum Blue Cross Blue Sheild. Ipaid into the plan as part of contract negotiations for a life time of work. I was guaranteed “free” healthcare benefits for life upon retirement. This past January SAG informed it’s retires that a $25 fee would be deducted from their pension benefits to pay increased health insurance costs.
    This is a very important story that has had a direct effect this and a number of other Geezers.

  2. Does any one have suggestion how to use this imformation to rescind the SAG health benefit increase?

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