Aetna gets OK to hike rates on individual health policies in California

[Francesca9]

Source: LA Times

The increase will average 19% and will take effect Oct. 1 along with double-digit hikes by Anthem Blue Cross, Blue Shield of California and Health Net that also had been reviewed by the Department of Insurance.

Read more: http://www.latimes.com/business/la-fi-aetna-20100918,0,6467137.story

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19%.

This is a real increase!

[golddigger]

1. Time for another strongly worded letter.

[valerief]

2. Yep, and a really firm finger wag. nt

[DJ13]

3. In one year weve gone from a public option to the option to publicly criticize increases

This is progress?

[wordpix]

9. of course, there's the option to make the insurance corpos richer - stats here

http://blogs.palmbeachpost.com/on-call/2010/08/20/focusing-on-health-costs-a-close-up-look-at-health-ceo-salaries/

And here’s what the CEOs at the major insurance companies serving our area made in FY 2009.

UnitedHealth Group: CEO Stephen Hemsley made $7.46 million in annual compensation, plus he exercised stock options worth $98.578 million, for total compensation of more than $106 million.

Cigna CEO H. Edward Hanway earned annual compensation of $17 million, and exercised stock options worth just under $1 million.

Humana CEO Michael McCallister earned $3.1 million, with exercised stock options worth more than $11 million.

Aetna CEO Ronald Williams earned $8.17 million, and exercised stock options worth more than $5.4 million.

WellPoint CEO Angela Braly earned $9.1 million and exercised stock options worth more than $1 million.

What about the major pharmaceutical companies? The New York Times’ Prescriptions blog took this issue up last month, using data from FiercePharma.

[chill_wind]

4. Sweet Jesus!

[notadmblnd]

5. Well of course they do.

The poor destitute health insurance corporations must not be allowed to suffer.

[wordpix]

6. All I can say is "remember Enron, California." Energy & stock price manipulation, all a big hoax

These health insurance corpos should be investigated, pronto, before this goes any further.

[Francesca9]

7. Rate increases are regulated

California requires that increased expenses be proven to support any rate increase. The Insurance Commissioner is a Democrat

Anthem Blue Cross asked for a 39% increase but this was denied. Apparently they will be limited to about 19%.

[wordpix]

8. and this is OK by you? People don't have jobs, much less can afford a 19% increase

I repeat, these companies should be investigated. :puke: Next thing they'll be wanting is a bailout.

http://blogs.palmbeachpost.com/on-call/2010/08/20/focusing-on-health-costs-a-close-up-look-at-health-ceo-salaries/

And here’s what the CEOs at the major insurance companies serving our area made in FY 2009.

UnitedHealth Group: CEO Stephen Hemsley made $7.46 million in annual compensation, plus he exercised stock options worth $98.578 million, for total compensation of more than $106 million.

Cigna CEO H. Edward Hanway earned annual compensation of $17 million, and exercised stock options worth just under $1 million.

Humana CEO Michael McCallister earned $3.1 million, with exercised stock options worth more than $11 million.

Aetna CEO Ronald Williams earned $8.17 million, and exercised stock options worth more than $5.4 million.

WellPoint CEO Angela Braly earned $9.1 million and exercised stock options worth more than $1 million.

What about the major pharmaceutical companies? The New York Times’ Prescriptions blog took this issue up last month, using data from FiercePharma. snip

Aw poor widdle health insurance corpo-wations, they don't have enough profits to continue to pay their CEO's $10-20 million/year. I wonder how much they paid off the regulators? :grr:

[xchrom]

10. Recommend

[orbitalman]

11. To me, all this means...

health care reform is NOT working for me AND most others.:mad:

[christx30]

12. That's because

the HCR law is a gift to the insurance industry, with a big, red bow.
Looks like perfect was the enemy of the good this time as well. We all talk about it and complain about it, but whenever someone brings up repealing the act, it gets shouted down here at DU.
You want real change? Vote EVERYONE out and start over with a whole freshman class.

[Trajan]

13. Thanks to the half-assed 'reform' that bipartisanship brought us ...

19% ? .... That matches my 19% raise I have received this year ......

Oh .. wait .... That was LAST year ....

Oh my .... How could I have forgotten ?

Was it 5 years ago I got that 19% raise ?

10 ?

20 ?

30 ?


Where has my mind went ?

[Joe Bacon]

14. I told you so!

I repeatedly pointed this out with Mad Max's miserable mishmash! Every time I posted about it, there were those who flamed me and kept telling me it's just a first step.

I also reminded folks about what happened with the Medicare Catastrophic Care and we're going to see a full blown push for a complete repeal of the bill in the next Congress.

[Francesca9]

15. The opportunity came and went.

We had complete control of the government and may not soon again.