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Blue Cross Insurance

Posted: Mar 2, 2010

Losing an Arm and a Leg

CAP Action analysis from Scot J. Paltrow shows that California isn’t the only state seeing double-digit health insurance rate increases from WellPoint.

More: Wellpoint Raising Rates by Double Digits in at Least 11 States

today's cartoon

;

Are you an insurance company executive? - Gee - who knew?

[ In Reply To ..]
Wonderful how people who have NO idea what they're talking about get to talk anyway.

Simple logic would suggest to anyone who thinks for a single second that the current unemployment situation, which has been exacerbated by Obama et al, MUST have changed the actuarial situation for insurance companies. In fact, no one can suggest any way that it would NOT have done so.

But ain't it wonderful how people who know nothing about a subject (like running an insurance company) can talk about it anyway? That's why so much conversation on the Web is nothing but ignorant blather.

Facts on Wellpoint - NJ

[ In Reply To ..]
It was profitable ($300mil+ in the fourth quarter alone) in 2009 even though we had an economic meltdown. Now it's raising premiums. One doesn't have to be a company executive to know that corporate greed is one reason for the health care problem in this country.

NJ

Then how do you explain - sm

[ In Reply To ..]
$4.75 billion profit = 91% increase over 2008, a 7.3 profit margin, the highest among the top 5 insurers, who as a group saw record profits of 56%, in a deep recession....DESPITE the loss of policyholders? Table won't format. First number is 2008, second number is 2009, third number is gain/loss.

WellPoint $2.5B $4.7B +91%
UnitedHealth $3.0B $3.8B +28%
Humana $647M $1B +61%
Cigna $292M $1.3B +346%
Aetna $1.4B $1.3B â��8%
Totals $7.8B $12.2B +56%

Source: US Securities and Exchange Commission. Saavy enough to suit you?

http://www.indystar.com/article/20100212/BUSINESS03/2120342/1278/BUSINESS03/Health-group-spotlights-profits-at-WellPoint

http://www.tampabay.com/news/politics/national/profits-for-the-five-largest-us-health-insurers-rose-56-percent-in-2009/1072701

No, but I love how you seem to pass judgment - based on a cartoon

[ In Reply To ..]
I did not even talk about it-just posted a cartoon!! Not sure what your problem is to immediately get into the personal attacks with no provocation.

Blaming unemployment and Obama for obscene profits - based on unadulturated greed

[ In Reply To ..]
does not exactly impart a sense of unbiased acumen for one who claims to know so much about the industry. Neither does throwing out an industry term or trying to defend them by ascribing the reason for double-digit premium hikes to a single cause such as the "actuarial situation."

The link provided a rather exhaustive list of incontrovertable evidence that remains unadressed, as do the subsequent posts. Seems to me that someone with such vast knowledge would jump at the chance to dispute those facts, assuming they were sufficiently armed with contradictory evidence.

Instead, we see yet another tiresome descent into direct personal (yawn)attack, which at least supports the proposition that there is certainly much conversation on the Web that is nothing but ignorant blather. At least the poster got that part right.

This is exactly what I mean about unprovoked - attacks-I said nothing in that

[ In Reply To ..]
post-just the cartoon. I did not "claim to know so much about the industry" although anyone with 2 brain cells to rub to together can see what is happening here, as NJ also points out) I only posted to get an intelligent conversation going and see the responses. It did not deserve the sarcastic response it got.

Yeah,uh-huh! The left does all of the provoking, never the right. If you say so.

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