Originally Posted by csp
Blue Cross has just announced that it’s immediately raising premiums charged to hundreds of thousands of individual customers by as much as 39%—even though their parent company’s profits soared to a record $4.7 billion last year.2 Even worse, the insurer has so far refused to explain why they’re increasing their rates, and warned that they might do so again this year without warning.
The Obama administration is demanding answers from Anthem Blue Cross, and Congress has opened an investigation.3 But Blue Cross is only going to respond if this story becomes a major public-relations problem for them.
So it’s time to turn up the heat. Let’s join the growing call for an explanation and send a powerful public message that these abuses by Big Insurance are unacceptable.
This is one I found just by doing a google search (insurance record profits raising rates).
I have not received that notification yet. BC/BS of Texas has been my insurer for four years without a premium increase. Thinking back, that may be the only bill I pay that hasn't gone up annually or less. And they just added my spouse whom happens to be a cancer survivor at a lower premium than they charge me. And I think I'm healthy as a horse. Go figure!
And just out of curiosity...their profits soared to $4.7 billion last year on what kind of investment. I don't own stock in this company but I'm willing to wager you, they made less than 10% ROI. I have been blessed, owned businesses with ROI of more than 30% but of course never earned billions.
Its all relative. ROI. I continue to pray capitalism will someday return to our country.