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Labor & Employment Law

: AFL-CIO NOW BLOG

Record Profits Don?t Stop Health Insurer?s Record Rate Hikes

By Mike Hall

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Click to enlarge chart. There's a theory that trends happen first in California before spreading to the rest of the nation. If that's true in health insurance, we're all in deep trouble. Last week, Anthem Blue Cross--whose parent company WellPoint posted a record $4.7 billion profit in 2009--announced it was gouging even more money from its 800,000 California customers by raising premiums as much as 39 percent. Deborah Burger, RN, and co-president of the National Nurse United (NNU), says Anthem Blue Cross's "disgraceful behavior may be particularly offensive,"
but it is not out of character for an industry engages systemically in price gouging and denial of care.

Full post as published by AFL-CIO NOW BLOG on February 11, 2010 (boomark / email).

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