Sunday, October 20, 2013

Private Insurer Profits? $13 Billion. Medicare Fraud? $48 Billion. Health Reform? Priceless.
...In fact, health insurance is one of the least profitable industries in America. 2010 profit margins for publicly-traded health insurers averaged a measly 4 percent. By comparison, cigarette manufacturers have margins of 20%; railroads 15%; long-distance carriers 14%; and soft drink manufacturers 13%. If health insurers are profit-hoarding devils, so is the rest of the private economy.

Jeffrey Anderson of The Weekly Standard points out that a recent government report estimates that Medicare fraud alone is at least $48 billion a year, almost four times the profits of the private insurance industry...

Rate Shock: In California, Obamacare To Increase Individual Health Insurance Premiums By 64-146%
...If you’re a 25 year old non-smoker, buying insurance for yourself, the cheapest plan on Obamacare’s exchanges is the catastrophic plan, which costs an average of $184 a month. (By “average,” I mean the median monthly premium across California’s 19 insurance rating regions.)

The next cheapest plan, the “bronze” comprehensive plan, costs $205 a month. But in 2013, on (NASDAQ:EHTH), the median cost of the five cheapest plans was only $92.

In other words, for the typical 25-year-old non-smoking Californian, Obamacare will drive premiums up by between 100 and 123 percent....

Report: Obamacare To Increase Health Premiums in 45 States
A comprehensive 50-state study has found that insurance premiums will increase under the first year of Obamacare in 45 of 50 states. This finding flies in the face of President Obama's promise that his health care overhaul would cause premiums "for the typical family" to fall by $2500....