Search This Blog

Thursday, July 22, 2010

Health insurers sit on billions in cash while hiking premiums

An examination of 10 health insurance company plan finances found that in 7, the companies were holding more than three times the minimum required cash reserves while hiking rates by double digit numbers every year.

Recently there was a considerable fuss when Anthem/Blue Cross in California announced increases of up to 39% for individual policy owners. The State Insurance Commissioner's office found that they had flagrantly cooked the books to justify the increase.

While the health care reform will won't initially cure all these ills it has opened the door for further reforms down the road unless the GOP get's its way and repeals the whole bill.

Full story here.

No comments: