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WellPoint Raising Premium Rates By Double Digits In At Least 11 States

Discussion in 'Political Discussion' started by Holy Diver, Feb 24, 2010.

  1. Holy Diver

    Holy Diver Rookie

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    #80 Jersey

    – California: Average rates are expected to increase 25 percent in 2010, with increases as high as 39 percent for some policyholders.

    – Colorado: Average rates are expected to increase 19.9 percent in 2010, with increases of up to 24.5 percent for some policyholders.

    – Indiana: Rates are expected to increase 21 percent in 2010.

    – Maine: Anthem Blue Cross and Blue Shield requested a 23 percent increase for 2010 after five straight years of double-digit increases for individual policyholders. Anthem is suing the Maine Insurance Commissioner for rejecting its request last year for an 18.5 percent rate hike and allowing a 10.9 percent increase.

    – Ohio: Average individual rates are expected to decline 40 percent in 2010 due to a new state law that went into effect in 2010.




    Private Insurance!


    This is what happens when you deregulate an industry that alreayd has an anti-trust exemption. Don't try and sell me on Tort reform, or state line restrictions...

    Who is able to budget for anything that increases 20-30% semi-annually at the biller's whim?
    Last edited: Feb 24, 2010
  2. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    It's a "health care cost" problem, not an insurance problem. Until healthcare costs less per unit - or at least only goes up at the rate of inflation - this will continue. Which is why obama's plan is useless, he's got all this crap but nothing to reduce the cost of each healthcare unit.
  3. JackBauer

    JackBauer On the Roster

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    That, as usual, is a lie. But you already knew that, since we've been down this road before.
  4. Holy Diver

    Holy Diver Rookie

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    #80 Jersey

    Oh, man....


    BF,


    the cost of care didn't jump in Cali by 39% in the last 4 months....it didnt jump in Maine by 25% in the last 2 months....


    you are really being awesomely funny about that aspect of the rate hikes.


    Especially when Wellpoint not only made record profits, but slashed their OWN employees heath benefits.


    On the White HOuse's proposals...I couldn't agree with you more. They are kinda sounding and looking like YOU. Defenders of a middle man that comes to your home about twice a month....rapes your dog, steals your savings, poops in your washing machine and sends you a bill for the per diem.
  5. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    This particular increase also has to do with healthy people choosing not to buy insurance. I know "that's in the bill" but so much of the industry in too regulated, if people could pick their health insurance "ala carte" the costs would go down for premiums and it would be more affordable. I want insurance for a $200K heart operation if I have a heart attack. I don't want insurance for a 10 minute doctor's consultation.

    Oh well - ironically I'm off to the orthodontist with my kid; speaking of which, why do braces cost $5K ?
  6. ljuneau

    ljuneau Rookie

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    It is the cost of healthcare that is the problem. Health insurance companies make, on average, around 3.5% profit. That's all.

    If healthcare costs increase, the insurers have to raise rates. And yes, healthcare costs, nationwide, have risen dramatically over the past couple years - for a bunch of reasons.
    Last edited: Feb 24, 2010
  7. ljuneau

    ljuneau Rookie

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    My daughter is also getting braces in early March. It only costs 4K here in TN. I guess I should feel lucky.
  8. Holy Diver

    Holy Diver Rookie

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    #80 Jersey

    Q: What is a fair profit for health insurers?

    A: This has become a stickier issue as medical costs rise. Insurers need to make a profit to generate a return on investment that makes their stocks attractive to shareholders, who supply the capital necessary to underwrite policies.

    -Gary Claxton, an expert on the private insurance market at the Kaiser Family Foundation.


    Note: Not a single word in his answer deals with health.



    If an insurere has to raise rates by 39%...they are FAILING. If the governemnet wanted to raise your taxes by 39% because of "Operating costs" I wonder how many of you conservatives would be on board....


    hmmmmmmm?
  9. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    Why do you bother???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? :singing:
  10. Holy Diver

    Holy Diver Rookie

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    #80 Jersey

    I'm into self torture I guess....
  11. Real World

    Real World Moderator Staff Member

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    If the cost of care rises, then so do the costs of the insurance premiums that cover it. Reduce costs, then premiums will come down. Increase costs, and premiums go back up. Medicare Advantage premiums rose 14%. Why? Cuz the cost of care rose. It's not rocket science.
  12. Holy Diver

    Holy Diver Rookie

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    #80 Jersey

    Uh Oh.....

    Think Progress Internal WellPoint e-mails reveal company increased premiums to maintain higher profits.

    Today, during a hearing before the House Energy and Commerce Health Subcommittee, Reps. Bart Stupak (D-MI) and Henry Waxman (D-CA) questioned WellPoint CEO Angela Braly about the company’s proposed rate increases in California’s individual health insurance market. The congressmen read from a series of internal company emails which revealed that WellPoint was rising premiums simply to increase its profits...





    RW....




    sounds like you got your talking points from WellPoint....




    – “The average increase is 23 percent and is intended to return California to a target profits of 7 percent, versus 5 percent this year.” [WellPoint email, October 7, 2009]

    – “We’re asking for premiums that would put us $40 million favorable…if we get the increases on time, we will see an opt gain upside of $30 million downgrades and rate cap.” [WellPoint email, November 2, 2009]

    – “[W]e needed to reach agreement on filing strategy quickly — specifically in the area of do we file wth a cushion allowed for negotiations.” [WellPoint email, 10/24/2009]



    YouTube - Internal WellPoint Emails And Profits
  13. Real World

    Real World Moderator Staff Member

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    This is why I stand clear of certain threads. A 7% margin dude, seriously. I'll post some fun facts for you.

    WellPoint Rate Hike Brings Calif. Probe | Insurance | Financial Articles & Investing News | TheStreet.com

    Bring that margin down 2%, back to 5%. Heck, take out that 7% margin altogether. Is HC now affordable? IT'S THE ******* COST PEOPLE.

    I'm done with talking HC in this forum, cuz people truly have no ******* clue as to what reality is. I HATE paying $500+ a month for the BCBS coverage. I DESPARATELY want reform, so that my COSTS GO DOWN. The plan being pimped, DOESN'T DO THAT!

    Enjoy your circular discussions everyone.
  14. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    That's the thing, even if WellPoint is making too much money (which I am not agreeing with) the way to fix it isn't for the government to take over. The solution is to have less regulation, less mandates and let real competition take over. I have health insurance I don't want and don't need. If I could pick and choose from a more a la carte policy and from more insurers all with their own a la carte pricing my premiums would come down. Insurance pricing is very predictable with all the numbers from the actuaries, that's why they can survive with fairly low profit margins. Less government intrusion, not more, is what we need. I want my health insurance to be like my car insurance - and I don't want to have to insure my car for oil changes.
  15. sdaniels7114

    sdaniels7114 Rookie

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    Did deregulating the savings and loan industry under Regan improve things there? What about the financial industry of late? I know that you Republicans like to pretend that it was Barney Frank who wrecked our economy, but those with some sense say it was the near complete lack of oversight regarding credit default swaps that set the bomb off. Now, even though our health care industry is both the least regulated and least effective in the entire world you wanna do even more of the same and expect that to fix things?
  16. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Who is responsible for the banks is another matter, I just want health insurance to be like car insurance. I can pick and choose what I want covered, pick and choose my deductible, get discounts for good behavior, etc. As it stands, I have a dozen or so health insurance choices - but they're all basically the same. The only significant difference is which ones have my local hospitals/doctors as preferred providers.
  17. ljuneau

    ljuneau Rookie

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    Wow, sorry to see you so confused. Try running a small business then get back to me. Nothing like a real life experience to give you a realistic perspective.

    It's rather simple, really. If health care costs rise, insures have to raise rates. It's very silly of you to say that the insurers failed because the costs they are insuring increased by some arbitrary percentage.

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