Who made health insurance companies the poster child for free enterprise? They have been cashing in big on government programs since the birth of medicare. In the last 40 years I have personally only seen their bottom-line-mania increase. Think AARP Medicare Advantage: The president of United Health Care took home $34,721,122.00 in compensation last year. * Even Obamacare (as amended before approval) is a cash cow for these guys. And still the shenanigans continue. The Kentucky Department of Insurance has fined Humana $65,430 because it offered policyholders an unapproved opportunity to amend their insurance as part of a letter that regulators have called “misleading.” ** Likewise, “Blue Cross successfully enticed tens of thousands of its individual policyholders to switch out of their grandfathered health plans and forever lose their protected grandfathered status,” states a recent lawsuit. “Blue Cross concealed information about the consequences of switching plans and intentionally misled its policyholders to encourage the replacement of grandfathered policies.” *** Those of us who believe in access to affordable care for all Americans (and even those of us who believe business should play it straight) need to recognize tactics when we see them - all the way from contractor failure to produce a viable federal web site to lack of transparency with clients from insurance providers. This financial bully, AKA poster child for free enterprise, will not go down without a big, expensive fight. (Jeanene) * startribune/business/204595621.html ** courier-journal/article/20130924/PRIME07/309240089/ *** thinkprogress.org/health/2013/11/07/2906861/major-insurance-company-lawsuit/
Posted on: Wed, 13 Nov 2013 19:13:06 +0000
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