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Big Insurers OK With People Getting Priced Out Of Health Insurance

March 9th, 2010 by admin | Filed under Uncategorized.

President Obama has criticised health insurance companies in this country for raising their premiums and denying coverage to the critically ill.

“The other day, on a conference call organised by Goldman Sachs, an insurance broker told Wall Street investors that insurance companies know they will lose customers if they keep raising premiums,” Obama said.

“But since there’s so little competition in the insurance industry, they’re OK with people being priced out of health insurance because they’ll still make more by raising premiums on the customers they have.”

“They will keep doing this for as long as they can get away with it.”

What this means according to Wall Street analysts, is that the best thing for the insurance industry is “business as usual”. It allows insurers to keep consolidating their monopolies, keep pricing sick customers out of the market, and thus perpetually increasing their already record profits.


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