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Health Insurance Companies Say That They Plan To Raise Premiums Significantly Because Of The New Health Care Reform Law

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On some level, we all knew that this was going to happen.  Health insurance companies across the United States are announcing that health insurance premiums are going to go up substantially.  Why?  Well, many of these health insurance companies are openly admitting that they are raising rates because of the mandates contained in Barack Obama’s new health care reform law.  Of course when the health care reform bill was being debated, Barack Obama swore up and down that this would never happen.  At the time, Obama promised that the average American family would save $2,500 in yearly health care premiums under the new law.  But did any of us actually believe that load of nonsense?  The instant Obama made his pledge we all should have started reaching for our wallets.  Of course this insane “health care reform” law was going to raise health insurance rates.  The only question to be answered was by how much.

Already, Americans spend far more for health care than anyone else in the world.  According to a recent report, Americans spend approximately twice as much as residents of other developed countries on health care.  In return, Americans get surprisingly low quality and far less efficiency than other nations are able to achieve.

But soon Americans will be paying even more for health insurance.

According to The Wall Street Journal, the following are just some of the health insurance companies that have announced rate hikes that are at least partially attributed to Obamacare….

*Aetna says that the extra benefits that the new health care reform law is forcing it to cover are behind rate increases for new individual plans of 5.4% to 7.4% in California and 5.5% to 6.8% in Nevada.

*Regence BlueCross BlueShield of Oregon claims that the cost of providing additional benefits under Obamacare will account for 3.4% of a 17.1% premium rise for small employers.

*Celtic Insurance claims that half of a whopping 18% health insurance premium increase it is seeking comes from complying with mandates in the new health care law.

All over America, health insurance for an individual premiums are absolutely soaring.  Whether it is as a result of Obamacare or not, health insurers have decided that this is the seasons to raise rates.  Just consider the following excerpt from a recent article on Fox News….

Here is the terse reason CareFirst/Blue Cross/Blue Shield of Washington gave its subscribers for raising a monthly premium from $333 to $512 on a middle aged man who is healthy, is not a smoker and is not obese: “Your new rate reflects the overall rise in health care costs and we regret having to pass these additional costs on to you.”

512 dollars a month for health insurance for one person?

The American people cannot possibly afford this nonsense.

But thanks to Obama, we are all now going to be forced to buy health insurance.  Barack Obama, Nancy Pelosi, Harry Reid and the rest of the Democrats have created a national health care nightmare and every single one of us is going to pay dearly.

And the health insurance companies don’t even need the money.  In fact, they are making record profits already.  The truth is that America’s health insurance companies increased their profits by 56 percent in 2009.

Yes, you read the correctly.

56 percent.

And now they are about to make even more money as they raise rates on you and I and the rest of the American people.

You see, the reality is that the large health insurance companies don’t just make millions of dollars in profits.

They make billions.

According to a report by Health Care for America Now, America’s five biggest for-profit health insurance companies ended 2009 with a combined profit of $12.2 billion.

That is the real reason why health insurance companies like to raise rates so much.

They have got to keep the record breaking profits rolling in.

For example, did you know that the top executives at the five largest for-profit health insurance companies in the United States received nearly $200 million in total compensation in 2009?

I would like to get a little slice of that.

Wouldn’t you?

Life is good if you are a health insurance executive these days.

They seem to particularly like to stick it to small businesses.

According to an article on the Mother Jones website, health insurance premiums for small employers in the U.S. increased 180% between 1999 and 2009.

Things have gotten completely and totally out of control.

As I have written about previously on our sister site, the entire U.S. health care industry has become all about making as much money as possible.  It has become an industry that is far more about greed than it is about actually taking care of people.

Meanwhile, the American people are getting drained in multiple ways.

We are all going to have to pay much higher health insurance rates and we are all going to have to pay higher taxes to pay for all of the new bureaucracy in the new health care law.

The reality is that there is no way that we can afford this new health care law.  At this point, 61% of all American voters believe that the health care law will increase the federal deficit.

Without a doubt, Obamacare has quickly become one of the most unpopular laws in U.S. history.  In fact, the political winds have shifted so much that now even many Democrats are openly campaigning against the health care reform law as the midterm elections approach.

So let us hope that at some point Obamacare gets repealed.

But for now, health insurance companies will continue to use Obamacare to continue to stick us with huge rate increases.

Isn’t our system great?

  • Not so Mad Max

    I knew this was going to be a mess when they did it, I still hear people bleating for a single payer plan. Before anybody starts with the madness that a single payer plan is the salvation for all of mankind’s ills please point to anywhere on the planet it works. The UK papers have daily NHS horror stories the NHS hemorrhages money, the UK is the fattest nation in Europe the fifth in the world. I wont go into the cut backs in Japanese Health care and Canucks wait times, and don’t point out the Cubans they’re too poor to have the life style issues we in the west have. You have to work to survive in Cuba and work damn hard. That’s something to be said for Communism no Big Mac’s, no sitting in cubicle, no cable.

    The issue is we are too fat too many people still smoke with cigarettes around ten bucks a pack. Too many people use their bodies as a playground and when things start to go wrong expect somebody to pay for it. What started with LBJ’s “Great Society” has done grown government and people expect somebody else to take care of them. Until you run out of other people’s money that day is looming BTW.

    • will m

      “I won’t even go into these other countries and their problems” – That’s because every time someone starts talking about the problems that other countries have with single payer, or universal health care, it’s all a big lie. Have you ever actually talked to people from these countries?? I’ve talked to plenty. It’s not a perfect system, but its far better than what we have! You talk about wait time – People in USA have to wait or just go without health care all the time! You talk about the system homorageing money – in the USA the insurance company can bankrupt you and the bank can take your house! How the hell is THAT better than socialized medicine!? People in those countries LOVE their health care, even if its not perfect, because thye know that they will ALWAYS get live saving care, that they will only be forced to wait when it’s not life threatening, and that they will never go bankrupt or lose their house because of a medical emergency, accident, or disease.

      How the hell people defend OUR system, while decrying the “Obamacare” system (which is NOT socialist, it’s a sell out to the insurance companies still! It’s what the Republicans fought for in the 90s when Hillary Clinton wanted real health reform! It’s exactly what republicans pass for car insurance: a mandate so that everyone else is not on the hook when you have an accident!)

      It blows my mind how partisan people get that they can tear apart this bill and find only what they are looking for. It’s not a great bill, and the reason is that it leaves too much power in the hands of insurance companies. But it DOES limit their power: limits their power to increase premiums (which this article suggests it doesn’t) it limits their power to deny care (which this articles suggests it doesn’t)

      And YES, a public option (a public INSURANCE option) would be great! The government isn’t trying to control the health care in these other countries, only the INSURANCE. The sooner people realize that insurance and banking are the oldest scheme in the book (I have money, therefore I will hold it over you at the cost of more money, force you into debt and you will be my slave forever) the sooner we can move forward in our society. Debt is the new slavery, and they are not even being very subtle about it any more, because they have this sharp partisan divide they can rely on! Obama said this, he’s a socialist! Romney said this, he’s a capitalist crook! Oh wait, they both said the same thing….

  • Gary

    Single payer is the only way. ALL other first world countries have this. Could it be that they know something we don’t? Most of them also have better health outcomes.

    We need to take health-care out of the profit driven greedy scumbag insurance companies.

    Its bad enough that some of the less informed still think capitalism is viable and can’t see it as the morally bankrupt system it is.

    It has no place in health-care (much less anywhere else)

    The insurance companies are raising rates as the CEO’s are getting obscene salaries as are many of the top insurance executives.

    These people are the scum of the earth as they make profit on other peoples misery. (the capitalist way)

    • will m

      Yeah, and this article, while complaining about Obama’s “socialist” take over of healthcare (socialist yet not offering a social option and only relying on the insurance companies….) talks about how America has worse health care than these other countries. Then turns around and says what bad health care these other countries have because of socialized medicine.

      I’m sorry, what? The reason that these counrties have better health care than us is BECAUSE they have socialized medicine, becuase they DO NOT USE INSURANCE COMPANIES. Insurance companies and banking are the oldest scam in the book. They are like a ponzie scheme. They take their accumulated wealth (or in the case of the Federal Reserve and Banks, they create wealth from thin air) then hold it over us, force us to take their services at ridiculous costs, force us into debt, and keep us in debt. They take your house, your assets, your future! Debt is slavery!

      Some things should not be done for profit, or the profit needs to be limited because peoples’ greed is too massive. Banking, schools, health care, military, these are public services that should be run as a public service. Making a profit is fine, but not at the cost of services! That’s why we ALREADY HAVE A SOCIALIST COUNTRY! We already have minimum wage, public works for roads and water and schools! social security! It’s SOCIALISM, and it’s SECURITY in case something bad happens in the GREEDY CAPITALIST SOCIETY, so that you can still have enough money for food! These things are GOOD.

  • Gary

    Not so mad max-I really think your starting to sound irrational. It is hard for someone with a rational mind (like me) to figure out why someone who is irrational (you) is that way. It is an exercise in futility.

    I am sorry to be blunt, however, I do not know any other way to describe what you posted.

    I am sure your a nice person, I’m just sayin…

  • alice

    Vote out everyone who voted for the health care bill, big, big mistake, false promises, disappointments, Dems sold us out, Austerity measure needed to fix many problems!

    • will m

      Thank you, the Dems sold us out. Not because they’re socialist, or have some liberal agenda, but because they sold out to the corporate interests, the banks and the insurance companies. But the GOP actually PROMISES to sell out to these people. So the idea that voting GOP to stop the Dems from doing it is insane.

      Green party, Socialist party, and Libertarian party are running candidates all over the country for House and Senate, and Gary Johnson is the only other candidate on all 50 states for president. Start talking about it!

  • Craig

    You say that Obamacare is the cause of the insurance rate hikes, but then go on to say how greedy the insurance companies are. So it would seem that the insurance companies are using Obamacare as an excuse to increase their profits further.
    Not so Mad Max: Do some research. The system in the UK is not single payer, it’s government-run. I have experience the UK and US health care systems and I can tell you the NHS is not perfect but it is far better than the ludicrous, insanely expensive system in the US. How is the obesity rate in the UK even relevant? The NHS force-feeds people to get them that way? The insurance company profits speak volumes and you have fallen for their BS scare tactics about universal health care.

  • VegasBob

    Health insurance companies lie.

    The fact is that most insurance companies pay doctors and laboratories only 20-25% of the submitted billing. That’s a discount you’ll never see if you are a cash customer.

    Hospitals do get 100% of submitted billings, but those are at a substantially discounted rate. Just try to get the same rate if you are a cash customer. It ain’t gonna happen.

    The solution to all of our problems with ‘health care’ is to cut out all of the middlemen – government, insurance companies, and attorneys.

    The only kind of insurance that is really prudent in the health care field is LOW-COST CATASTROPHIC COVERAGE.

  • R4i

    The last sentence summed up everything perfectly: Isn’t Our System Great?

  • Justa Guy

    Thanks, Admiral Obama for purposely leading the Battlestar America into an ambush from which it will not survive. All of the politicians are sell-outs of the people. I would bet my last dollar (which will be worthless soon anyway) that this healthcare law has nothing to do with uninsured people’s health, and everything to do with adding more people to the insurance companies’ customer base to increase their profits (and they don’t care who has to pay to get these people on). I’m sure the politicians have been well compensated by the insurance companies for the pep rally they created to push this through. If you think the economy isn’t turning around now, wait until this Bomamacare kicks into high gear. You won’t need health care, because we’re all gonna starve to death paying for this first.

  • Greg

    Rockefeller founded the AMA. The Rockefellers want the world population reduced by about 66%. Health insurance is provided to make it more affordable for people to go to the doctors that are trained by an association that was founded and funded by a family that wants you dead. Maybe the best thing that can happen is for you to not be able to afford to go to the death camps.

    There are good people who are doctors just as there are good people who are public school teachers. The systems are corrupted so these good people still lead their victims down the same path that ends with a cliff. I realized the inherent trap and health demise of doctors 20 years ago when my daughter was sick for two months every time I took her to the doctor like a good daddy is supposed to do. I switched to natural health remedies and never went back.

  • El Pollo de Oro

    The lying, thieving Republi-Cons are too dishonest to admit that Obamacare/Pelosicare is really Romneycare because the Demo-craps ended up passing a weak bill that was modeled after what Republi-Con Mitt Romney did when he was governor of Massachusetts. Romney himself is so audacious a liar that he rails against a bill that was closely modeled after his own health insurance “reform” program in Massachusetts. The audacity of some politicians knows no limits.

    The problem with Obamacare/Romneycare/Pelosicare is that even though it outlaws some of the more egregious practices of health insurance companies (dropping people’s coverage when they get sick, excluding people with pre-existing conditions), the wolves and hyenas (Blue Cross, Aetna, United, etc.) are still guarding the henhouse. And make no mistake: health insurance companies are thoroughly evil. They are the #1 cause of bankruptcies in this Third World hellhole called The Banana Republic of America (BRA). They make life-and-death decisions that only doctors should be making. Health insurance companies cause a tremendous amount of unnecessary death, misery and suffering; they are domestic terrorists, pure and simple. And no doubt about it, health insurance ghouls will use Obamacare/Romneycare/Pelosicare as an excuse for continuing to raise premiums through the roof. But they would have done that anyway.

    One of the problems with having 51 million people uninsured in the BRA is that some of them have communicable disease–and when they don’t get the treatment they need, they are more likely to spread those diseases to others. Of course, politicians in France, Italy, Spain, Holland and the rest of the civilized world are smart enough to realize that if someone has tuberculosis or pneumonia or even a really bad case of the flu, it is in EVERYONE’S best interests that he/she be treated ASAP. But this is the BRA, where the well being of the public must take a back seat to the profits of the oligarchy.

    Capitalism, of course, works really well when you have honest-to-God competition. But health insurance companies don’t believe in competition or free enterprise. They believe in monopolies. They believe in violating anti-trust laws and buying off politicians through their wicked lobbyists. They believe in rigging the game. They believe in corporate welfare.

    Rachel Maddow put it best when she said that Obamacare/Romneycare/Pelosicare makes health insurance companies suck a bit less–in other words, the Demo-crap bill didn’t have nearly enough teeth in it. And sucking a bit less means that health insurance companies still suck………actually, they still suck a lot.

  • El Pollo de Oro

    What’s the difference between an Islamo-terrorist and a CEO for a health insurance company?

    The CEO is likely to have killed a lot more Americans.

    • will m

      Yup, I wish we could throw CEOs in jail. More people died last year from furniture accidents in America than from terrorists…. and a LOT more people died because of Insurance Companies, Military Contractors, Banks, the Federal Reserve (all private corporations controlled by Rockefellers and a few other ‘royal’ families)

  • jesse

    All Americans need to take a stand. We are allowing the insurance companies to rip us off and the govt to grow into a sluggish costly organization that not getting nothing done to achieve affordable health care. If every body pays into the med pool minus all greed it can work wi th good management

  • jesse

    Doctors need to quick being drug dealers

  • jesse

    Drug stores biggest business is people on some goverment aid so off to
    work you go to pay for more sluggards to get more drugs free