By: Johnson, J. (2017, September 14). Common Dreams.
Warren said the insurance giant has no right to demand massive taxpayer giveaways after making nearly $900 million in profits in the second quarter of this year
During a Senate Committee on Health, Education, Labor, and Pensions hearing Thursday, Sen. Elizabeth Warren (D-Mass.) slammed the insurance giant Anthem for threatening to pull out of state Obamacare exchanges if they’re aren’t lavished with “bigger tax cuts and more giveaways.”
“If you’re curious about why a majority of Americans support Medicare for All, here’s exhibit A.”
—Sen. Elizabeth WarrenWarren highlighted the fact that Anthem pulled in $855 million in profits during the second quarter of 2017, more than half of which came from taxpayer-funded insurance programs like Medicare and Medicaid.
Despite their enormous profits, Warren said, “Anthem sent Congress a ransom note” demanding more taxpayer subsidies following the GOP’s failed attempt to strip healthcare from millions of Americans—an attempt Anthem endorsed.
“If you’re curious about why a majority of Americans support Medicare for All, here’s exhibit A,” Warren concluded.
In a Facebook post following the hearing, Warren wrote that if Anthem wants to “keep making huge profits from taxpayer money, they ought to be able to provide decent coverage through the [Affordable Care Act].”
COMMENTARY:
The bottom line is, corporate health insurance is FAILING us. Their greed – the basis of such cruel practices as denying medical treatment and medicine to sick people – is only part of the problem.
The fact is, they do a terrible job of taking care of us. For example, a study by the Commonwealth Fund, cited in Fortune magazine showed that:
Insurance coverage . . . does little to drive down a patient’s out-of-pocket costs when compared to the general adult population, the authors wrote. They cited figures that show high-need adults spend nearly $1,700 out of pocket vs. the $702 the average adult spends.
So when it comes to the core function of health insurance, which is to transfer the risk of financial loss from illness from each individual to a larger risk pool, corporate health insurance fails.
And that’s not all! A recent study of health insurance literacy in Connecticut, cited in the Hartford Courant, shined a light on a very serious problem with health insurance. It’s darned complicated and hard to understand!
Many consumers who obtain insurance through Connecticut’s health care exchange don’t understand the plans they buy — and can struggle to access care as a result, according to a new report.
Insurance plans typically use complicated language that is difficult to understand, according to the Health Disparities Institute, UConn Health. As a result, some patients have trouble accessing care, experience delays in care, encounter administrative hassles and face other hurdles, the study found.
This problem is not confined to Connecticut. Every American shares an equal opportunity to get screwed over by our health insurers and insurance policy small print, confusing terminology and ever-changing provider networks.
So what does corporate health insurance do extremely well? Only one thing. They are incredible at extracting huge amounts of cash from the American economy, specifically, from individuals and families, employees and employers and federal, state and local governments.
And what do they do with all that money? Help people? You must be joking!
Like any other good corporation, they spend their fortunes on mergers and acquisitions, shareholder dividends, and mind-bogglingly generous CEO salaries.
If you’ve had it with shoddy treatment by health insurance companies, it’s time to get on board with true healthcare reform. We can’t afford to maintain these parasites in our system!
What YOU Can DO
If you agree that we need California Medicare for All, take action!
> Tell your State Assemblymember to co-sponsor SB 562, The Healthy California Act!
> Sign our Open Letter to Governor Brown and Our Legislative Leaders!
Dear Governor Brown, Senate President Pro Tem DeLeón and Assembly Speaker Rendon:
Californians need and want guaranteed healthcare that covers everybody for everything for life!
We support the Healthy California Act introduced by Senator Ricardo Lara and co-sponsored by Senator Toni Atkins.
Help all Californians fight the heartless and cruel threats to our health care from Washington DC.
Let’s HEAL California with SB 562, the Healthy California Act!
Yours Truly,
I am a business owner who pays for my employees insurance on the exchanges. I am angry about anthem saying they are pulling out and I am tired of the insurance company racket. Health care is a human right.