The top 5 health insurance companies have reported earnings for 2009, and shock of shocks, profits surged 56% over 2008. Combined profits for the 5 companies totaled $12.2 billion even as they reported insuring 2.7 million less people. That's right, they cut coverage for 2.7 million people and profits surged. The report, published by Health Care for America NOW, is being attacked by the companies and Republicans who dismiss increased profits as being an anomaly because profits had been down in 2008 due to the recession, completely ignoring the additional 2.7 million uninsured. The Seattle Times reported that even with the recession, however, profits for 3 of the companies are actually higher than those of 2007, a banner year.
At the same time, costs continue their steady steep climb, as reported by the Kaiser Family Foundation, with health premiums rising 131% since 1999. Not surprisingly, as a percentage of total workers, those insured continues to decline. The insurance industry being able to shed 2.7 million customers just this year clearly shows an intentional effort shift the burden for higher risk patients to either the government, or more likely, just leaving them to fend for themselves.
For-profit health insurance and health care simply doesn't work. The US is ranked lowest of the industrialized countries in cost, longevity, and infant mortality. With 16% of Americans without insurance, just too many people are left behind as Republicans and insurance lobbyists continue to tout "free market" principles, which, of course is a totally false assertion when it comes to health care.
At the same time, costs continue their steady steep climb, as reported by the Kaiser Family Foundation, with health premiums rising 131% since 1999. Not surprisingly, as a percentage of total workers, those insured continues to decline. The insurance industry being able to shed 2.7 million customers just this year clearly shows an intentional effort shift the burden for higher risk patients to either the government, or more likely, just leaving them to fend for themselves.
For-profit health insurance and health care simply doesn't work. The US is ranked lowest of the industrialized countries in cost, longevity, and infant mortality. With 16% of Americans without insurance, just too many people are left behind as Republicans and insurance lobbyists continue to tout "free market" principles, which, of course is a totally false assertion when it comes to health care.
Offshore, thank you for being open to the possibility of a government/public option. That is refreshingly and unbelievably rare for a non Liberal/Progressive. Honestly, seeing as how excruciating it is to get ANY kind of healthcare reform passed for the past 16+ years, I don't see how any type of crack in changing the current system can magically morph into a mandatory public option, that is unless all the Republicans in both chambers of Congress all simultaneously spontaneously combust. One could only hope.
As for the partisanship, I'm not too thrilled about Democratic sheep in wolf's clothing such as Max Baucus, Ben Nelson, and Blanche Lincoln, and as a group the Democrats in both chambers did not show enough gumption to stand up to the overly vocal and vitriolic Republicans. As a result, the minority managed to set the agenda and then scuttle it.
But nothing reeks of hyperpartisanship more than ZERO of 40 Republicans in the senate voting for the reform bill and only one Republican out of 177 in the House. And because of such monolithic obstructionism, I find the Repubs more hypocritical on this issue while they have their government funded Cadillac health plan firmly in place in their overly padded rear pockets.
And you must have a better medical plan than I or most others do. I paid over $2,000 out of pocket last year even with my dental "insurance" for a root canal and crown restoration. Thankfully I did not have any catastrophic medical issues...yet. And there are plenty others here who can regale you with first or second hand (but verified first hand) horror stories with medical insurance "issues".
Anyway, thanks for the frank discussion and lively debate offshore. I don't get paid for my insomnia ergo, I read and post on blogs. ;-)
Before responding to you, Bubbabobcat, let me first thank you for addressing the issue and for being civil in your response. I’m always open to discussing things like this, and I’m not so old and set in my ways that my views can’t change.
To answer one of your questions:
Yes, I have used my health insurance for a lot of things other than standard visits. My daughter had surgery not long ago and it required an overnight stay in the hospital. If I remember correctly, the whole shebang cost me about four hundred dollars out of pocket. This was the most recent incident but, sufficed to say, I use my coverage quite often for a multitude of services.
To answer your first question:
I really would not ever have a problem with a government option, so long as I was guaranteed that it would remain an option and not mutate into a mandatory single payer situation. You wouldn’t even hear much out of me if my premiums were raised due to the public option because, in my eyes, knowing that those less fortunate are cared for is worth a few dollars out of my pocket. But, to be clear, I am afraid of that mutation.
The incident with your sister in law is irritating, to say the least. I think it’s pretty much a no brainer that there should be a lot more oversight in cases like that, and in cases of pre-existing conditions, etc.
You make a good point about the coverage provided for our elected representatives. I don’t think, though, that said level of coverage will ever exist for the general public. I didn’t say it was impossible, just that it probably will never happen. You’re right. It is good ol’ hypocrisy at its finest. I don’t think, though, that hypocrisy is party specific. In my opinion, all politicians lie, and most are hypocrites.
On a side note: I don’t stay awake to post comments on blogs. I get paid to be awake at these ungodly hours, in case that matters to anyone, lol.
Offshore, my first question to you would be, if you are quite satisfied with your private health care insurance, what did you see in any of the reform care bills that are now dead in the water (thanks to the Republicans) that would have eliminated your beloved private health insurance and forced you onto a government run system? Everything I have read indicated that you get to keep whatever you have now. The reform measures were to provide healthcare for those that currently do not have any or have inadequate coverage or coverage they cannot afford.
Is that too much to ask for from this great country? It doesn't require a perfect utopia to provide adequate health care coverage for all or almost all of your citizens. Other western countries have been doing that successfully for years.
Your example as a matter of fact, to me illustrates the opposite of what you have stated. The big box retailer is after all a private enterprise whose main and only goal is to maximize profits for its shareholders and owners. Therefore the poor customer service and clueless and indifferent staff are a direct result of the pure profit motive: keep your costs to a minimum, pay the lowest wages for employees, thereby ensuring the most unskilled, uneducated, and unmotivated workforce possible. Now does that sound like government healthcare, or does it sound like private healthcare that does everything possible to NOT provide you the service it has been tasked to, to maximize profits for its shareholders and executives, but NOT service for their paying clients that subsidize their private enterprise?
Also, have you had the opportunity to utilize said private insurance you are comfortable with for anything major or anything besides the standard visits?
My sister in law just underwent extensive surgery for cancer which was only recently diagnosed. Guess what? The insurance company initially refused to pay for it and only relented after much wrangling. I don't know how or why they finally relented or if the fact that both her brothers are renowned surgical doctors who possibly have the knowledge and experience to fight the insurance companies at their "game" had any bearing or not. And my brother (her husband) is a mid level executive at a major corporation for nearly two decades (and paying those "lovely" premiums for just as long.
Now imagine the average Joe the Whatever with no inside pull having to battle the very same profit motivated insurance company giants that refuse to pay out a dime for the services that everyone (both employees AND employers) has been regularly paying the exorbitant premiums on for who knows how long. Now does that sound like something to be comfortable about?
Also, it seems like our elected representatives have no issues whatsoever with THEIR excellent government run healthcare system. So they can obviously manage a government run program efficiently and effectively when it matters quite a bit to THEM. Yet the Party of No says it is impossible, too expensive, they are too incompetent, yadda, yadda, yadda, to provide this self same benefit to us the average Joe the Schmuck (for that is obviously what they think of us). Anyone see something severely and hypocritically wrong with this picture?
Without being ugly or slamming anyone, I'd like to offer my own opinion. Please understand that I have never been to a "tea party", and that my views on civil liberties line up more often with liberals than they do conservatives. I am not of “let the free market reign unchecked” school of thought either.
Let me offer this example:
Not long ago, I stopped shopping a particular discount department store because, even though prices were low, service was terrible and the employees seemed to have little knowledge about the products the store carried. In fact, it was always a real chore to even get help locating a product within the store. If memory serves me, the last straw was an issue in the electronics department. I made the decision that this place was not for me. Not for electronics. Not for house wares. Not for anything.
I have heard the argument that social security and government run healthcare are totally unrelated but, in my eyes, it is the same “store”. I apologize for not being able to provide a link to prove this, but the last time I was able to see my personal social security information online, I was informed (in a nutshell) that if something wasn’t done to fix things, my benefits would decrease in the year 20??. I don’t blame the left. I don’t blame the right. It is what it is and I’m pretty much over it because I have planned a retirement that doesn’t include Uncle Sam’s help.
To be quite blunt, folks, I’m afraid. The medical/dental/vision insurance that my employer helps me to provide for my family isn’t perfect but, all in all, I’m comfortable with it. To me, this does not translate hate, or even apathy, for those not quite so fortunate. I do think reform is needed; I am just terrified of being forced to use an entity that has let me down in the past. I put the needs of my children and my spouse above all else. If it makes me a selfish person to feel this way, which I am sure it does to some, then I am guilty of being selfish. I will not be a squawk box and shout about tort reform or any of the other solutions that seem to be so popular with the conservatives. Truth be told, I don’t know what will work. In a perfect world, we would all enjoy a high level of care and wouldn’t have to worry with it. Sadly though, I don’t think that any of the solutions offered so far will accomplish this.
I hate to dwell on this, but shutting our wallets and purses is the only way to rid ourselves of the extortion being wreaked on us. When will the nation wake up to it? Follow WHAT money, eh???
National Drop Your Insurance Day is finally just around the corner, so rejoice!!!
So, how's that "no socialized healthcare" thing workin' for yah, teabaggers?
Why is that not surprising for an unregulated industry whose explicit goals are to do everything possible to avoid paying for medical procedures (despite the public's high out of pocket costs of premiums and deductibles) to ensure people do NOT get adequate medical care to maximize their own profits and bonuses?
Hello, there go your death panels teabaggers!
Bob,
You're 100% correct slamming the so-called 'free market' of health insurance. In what competitive market would you be able to raise your prices (premiums) on average 24% with many customers getting a 39% hike? Only in the 'free market', no anti-trust, charge-all-you-can insurance business of California. If Anthem Blue Cross actually had competition they would be in no position to do so.
As you point out, the 'free market' is a myth.
Then 2 Mil ended up screwed on one phony basis or another. Sweeeeet ! For the Insurance Companies.
At what point is everyone going to realize we are being warred upon?
Get it through your heads... These "people" will kill you to increase their profits.
The report has some detail. Of the 2.7 million taken off the roles, 680,000 were moved to public progams (CHIP, Medicare, and Medicaid). The other 2 million were dropped.
It would be interesting to know the details of those 2.7 million less people with insurance. Where they deceased or were they people whose insurance was cancelled ? I'll bet that's something we'll never know.