This years health insurance cost increases are legal and profitable

[mdmc]

Health insurance companies (and employers that provide health insurance to employees) are claiming that the health insurance reform bill is causing these severe increases in health insurance costs.

It is.

The health insurance bill allows insurance companies to profit, and they will do so. Kudos to the White House for asking the health insurance industry to please not blame the bill for huge increases.

[w8liftinglady]

1. this is how they suffered last year.

http://www.aflcio.org/corporatewatch/paywatch/ceou/industry.cfm

CEO salaries

AET AETNA INC Ronald A. Williams 2009 18,058,162
AFL AFLAC INC Daniel P. Amos 2009 13,591,511
ABK AMBAC FINANCIAL GP David W. Wallis 2008 2,832,065
AEL AMERICAN EQTY INVT LIFE HLDG David J. Noble 2008 514,624
AIG AMERICAN INTERNATIONAL GROUP Robert H. Benmosche 2009 2,706,530
ANAT AMERICAN NATIONAL INSURANCE Robert L. Moody Sr. 2009 22,325,432
ACAP AMERICAN PHYSICIANS CAPITAL R. Kevin Clinton 2009 1,844,272
AGP AMERIGROUP CORP James G. Carlson 2009 5,232,249
AIZ ASSURANT INC Robert B. Pollock 2009 6,444,198
AGO ASSURED GUARANTY LTD Dominic J. Frederico 2009 7,661,221
CNC CENTENE CORP Michael F. Neidorff 2009 6,077,900
CI CIGNA CORP H. Edward Hanway 2009 18,818,467
CIA CITIZENS INC Harold E. Riley 2009 1,032,943
SUR CNA SURETY CORP John F. Welch 2009 2,210,807
CNO CONSECO INC C. James Prieur 2009 3,326,059
DFG DELPHI FINANCIAL GRP -CL A Robert Rosenkranz 2009 2,393,125
FFG FBL FINANCIAL GROUP INC-CL A James W. Noyce 2009 2,204,218
FNF FIDELITY NATIONAL FINANCIAL Alan L. Stinson 2009 5,379,038
FAF FIRST AMERICAN CORP Frank V. McMahon 2009 6,439,941
FPIC FPIC INSURANCE GROUP INC John R. Byers 2009 2,704,376
GNW GENWORTH FINANCIAL INC Michael D. Fraizer 2009 7,252,186
HNT HEALTH NET INC Jay M. Gellert 2009 3,643,342
HS HEALTHSPRING INC Herbert A. Fritch 2009 3,966,635
HUM HUMANA INC Michael B. McCallister 2009 6,509,452
IHC INDEPENDENCE HOLDING CO Roy T.K. Thung 2008 657,764
LNC LINCOLN NATIONAL CORP DENNIS R. GLASS 2009 6,996,596
MKL MARKEL CORP Alan I. Kirshner 2009 1,021,709
MBI MBIA INC Joseph W. Brown 2009 5,167,360
MET METLIFE INC C. Robert Henrikson 2009 11,600,338
MTG MGIC INVESTMENT CORP/WI Curt Culver 2009 2,279,259
MOH MOLINA HEALTHCARE INC J. Mario Molina 2009 1,866,260
NWLI NATIONAL WESTERN LIFE -CL A Robert L. Moody 2008 3,136,353
NYM NYMAGIC INC A. George Kallop 2009 1,208,970
ORH ODYSSEY RE HOLDINGS CORP Andrew A. Barnard 2008 4,460,033
PNX PHOENIX COMPANIES INC James D. Wehr 2009 3,439,396
PMI PMI GROUP INC L. Stephen Smith 2009 3,032,733
PPD PREPAID LEGAL SERVICES INC Harland C. Stonecipher 2009 1,852,538
PLFE PRESIDENTIAL LIFE CORP Herbert Kurz 2008 723,496
PFG PRINCIPAL FINANCIAL GRP INC Larry D. Zimpleman 2009 4,909,023
PRA PROASSURANCE CORP W. Stancil Starnes 2009 2,522,909
PL PROTECTIVE LIFE CORP John D. Johns 2009 4,606,270
PRU PRUDENTIAL FINANCIAL INC John R. Strangfeld Jr. 2009 18,425,632
RDN RADIAN GROUP INC Sanford A. Ibrahim 2009 2,828,960
RGA REINSURANCE GROUP AMER INC A. Greig Woodring 2009 3,546,187
SFG STANCORP FINANCIAL GROUP INC J. Gregory Ness 2009 3,723,004
STC STEWART INFORMATION SERVICES Stewart Morris Jr. 2009 962,333
TMK TORCHMARK CORP Mark S. McAndrew 2009 2,836,298
GTS TRIPLE-S MANAGEMENT CORP Ramon M. Ruiz-Comas CPA 2009 1,318,431
INDM UNITED AMERICA INDEMNITY LTD Larry A. Frakes 2008 1,779,955
UNH UNITEDHEALTH GROUP INC Stephen J. Hemsley 2009 8,901,916
UAM UNIVERSAL AMERICAN CORP Richard A. Barasch 2008 3,503,701
UNM UNUM GROUP Thomas R. Watjen 2009 9,378,363
WCG WELLCARE HEALTH PLANS INC Heath Schiesser 2008 8,077,718
WLP WELLPOINT INC Angela F. Braly 2009 13,108,198
XL XL CAPITAL LTD Michael S. McGavick 2009 6,212,437

[AldebTX]

2. The City I Work for

received their increase of 15% this year. They blamed the increase on the health bill and this is despite the fact we had a reduction in claims this year.

Our HR director was cussing about Obama's Health Care bill costing us so much and when I asked HOW and where it caused the increases....she couldn't give me specifics. She was just told by the rep that the increase was due to the new Health Care bill.

I may not have training in HR matters but the accountant in me wants to know WHERE and WHY the increases occurred and what caused them.

[Javaman]

3. as long as the right wing choose to willfully believe anything anti-Obama

they don't and never will need facts.

They believe that talking points are facts unto themselves and require no explanation.

[mdmc]

4. exactly

My agency and NAMI (national alliance for the mentally ill) both supported the reform bill.
We were told by our insurance companies (we offer 3 choices, all three providers said) that the increases were due to the bill.
The how and why are easy - IT IS LEGAL AND PROFITABLE TO DO SO.

[TheKentuckian]

5. Failure to prevent and actually causing are tightly linked because we just passed the damn bill

Essentially it is like having crap quality control on a product.

You don't have to be real sharp or knowledgeable to have predicted the gouging and if something is easily predictable but you allow it anyway then don't be surprised if you catch heat.

You aren't guilty but good luck avoiding blame.