Why We Need Single-Payer Health Care In Ohio: Top Five Health Insurers Posted 56

[irishbobcat]

Why We Need Single-Payer Health Care In Ohio: Top Five Health Insurers Posted 56 Percent Profit Gains in 2009

John Bryne wrote last week : According to a study by a pro-health reform group last published Thursday, the nation's largest five health insurance companies posted a 56 percent gain in 2009 profits over 2008. The insurers including Wellpoint, UnitedHealth, Cigna, Aetna and Humana, which cover the majority of Americans with insurance.
The insurers' hefty profit gains came even as 2.7 million more Americans lost their insurance coverage due to the declining economy.

Notably, the study also found that insurers spent less money on medical care as a percentage of their premiums from customers. Salaries, administrative expenses and profits made up more of the insurer's expenses in 2009.

Wellpoints Anthem Blue Cross California created a stir last week by announcing that they will raise premiums on individuals by 39 percent in 2010. The increase was so high it drew a rebuke from the Obama Administration.

This is why we need The Health Care for All Ohioans Act passed. As long as Ted Strickland accepts $10,000 in donations from Medical Mutual, insurance rates, premimums, and expenses will continue to skyrocket for the aveage Ohioan and their family.

This is why I support passage of the Health Care for All Ohioans Act.