As Numbers of Uninsured Soar, Health Insurance Companies Plan Rate Hikes

[marmar]

from Mother Jones:



The latest report from the Census Bureau, which shows a significant rise in the number of Americans living in poverty in 2009, is making news today. Less widely reported are the figures for those living without health insurance, which indicate that in 2009 there were 50.7 million uninsured or 16.7% of the population, up from 46.3 million and 15.4% in 2008. Kaiser Health News has a roundup of stories on the sharp rise in the uninsured. The details from the Census Bureau report are as follows.

* The number of people with health insurance decreased from 255.1 million in 2008 to 253.6 million in 2009. Since 1987, the first year that comparable health insurance data were collected, this is the first year that the number of people with health insurance has decreased.
* Between 2008 and 2009, the number of people covered by private health insurance decreased from 201.0 million to 194.5 million, while the number covered by government health insurance climbed from 87.4 million to 93.2 million. The number covered by employment-based health insurance declined from 176.3 million to 169.7 million. The number with Medicaid coverage increased from 42.6 million to 47.8 million.
* Comparable health insurance data were first collected in 1987. The percentage of people covered by private insurance (63.9 percent) is the lowest since that year, as is the percentage of people covered by employment-based insurance (55.8 percent). In contrast, the percentage of people covered by government health insurance programs (30.6 percent) is the highest since 1987, as is the percentage covered by Medicaid (15.7 percent).
* In 2009, 10.0 percent (7.5 million) of children under 18 were without health insurance. Neither estimate is significantly different from the corresponding 2008 estimate.
* The uninsured rate for children in poverty (15.1 percent) was greater than the rate for all children.
* In 2009, the uninsured rates decreased as household income increased: from 26.6 percent for those in households with annual incomes less than $25,000 to 9.1 percent in households with incomes of $75,000 or more.

These figures are sure to reignite the health care squabbling in Congress, and add to the tea party shrieks that Obamacare won't cure the health care mess, which is now more of a disaster than ever. While their analysis is flawed, the tea partisans' conclusion is, sadly, pretty much on the mark.

In the wake of health care reform, insurance companies are raising their rates—apparently, in preparation for the tepid new rules that won't go into effect for years, and thus give the industry plenty of time to jack up their prices and protect their profits. The Wall Street Journal reports that premiums for individuals and small businesses will go up in 2011, in some cases by as much as 20 percent. ...........(more)

The complete piece is at: http://motherjones.com/mojo/2010/09/health-insurance-rate-hikes

[TBF]

1. Well that's lovely - we already pay about $1,000/month in premium -

and that's before we get to the deductibles & co-pays.

[w8liftinglady]

3. on long-term disability at work-and pay $650/month.What a deal

[QC]

2. How very, very hopeful and changealicious! n/t

[Bonhomme Richard]

4. Insurance companies are not dumb. It doesn't escape them that..

if they make this transition as painful as possible it will be repealed. All they have to do is stoke the fires using any and all loopholes.

[burnsei sensei]

5. How's that medicine for profit working out for you? nt

[underpants]

6. Max Caps end next Thursday

Sept 23rd any new policies or renewed policies after 9/23 can not have Maximum Caps on benefits.

[KansDem]

7. Did we expect differently? When you have government-protected monopolies...

...they can charge whatever they want.

Real competition keeps prices low and quality high. That's not the American health-care industry.

I'm not all that savvy in ways economic but I knew this would happen.

I believe the pharma and health-insurance companies are preparing to suck 310 million tits...

[dotymed]

10. There should be no "real competition" for,

"for profit health care." All other "civilized nations" in the world recognize this basic human right.
"Let us make huge profits or you will die."
What?
Really, who does not realize that an inalienable right HAS to be the right to live?
There can be no more basic right than that.
A system that propagates health, death, suffering..etc...on an individuals ability to PAY, is worse than torture.

[area51]

11. +1

Each day, 273 people die due to lack of health care in the U.S.; that's 100,000 deaths per year.

We need single-payer health care, not a welfare bailout for the serial-killer insurance agencies.

We don't need the GingrichCare of mandated, unregulated, for-profit insurance that is still too expensive, only pays parts of medical bills, denies claims, and bankrupts people. Republinazi '93 plan:

"Subtitle F: Universal Coverage - Requires each citizen or lawful permanent resident to be covered under a qualified health plan or equivalent health care program by January 1, 2005."

"We will never have real reform until people's health stops being treated as a financial opportunity for corporations."

[KansDem]

13. Oh, I agree 100%...

One of the reasons against public-financed, single payer was "competition" and how private corporations couldn't compete with a government-system.

I don't remember who it was but a GOPer was complaining during the "health-care" debate that corporations wouldn't be able to compete and would go out of business.

I thought "WHAT? Corporations have been saying for decades how competition keeps prices low and quality high. Now they're saying they can't compete with an entity that would give them competition?" How deliciously ironic!

Keep the fat cat health-care "providers" happy by compromising the "American way."

I consider health care, defense, the environment, education, and energy to be national security issues and should not be left in private hands.

Do we really think a small, powerful group of CEOs, working in secret for the benefit of "investors," have the best interests of the nation at heart?

[dotymed]

14. Everyone knows that the

gubmint can't compete with corporations. The GOP constantly calls for the end of the postal system. They cite FedEX et al...

[Big Bill Jefferson]

8. Naturally

That's how capitalism works.

[Stinky The Clown]

9. I understand a stern letter has been drafted, signed, and dispatched to the inurance company CEOs.

[L0oniX]

12. As more people drop insurance they will raise rates for the rest.