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51
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| $3.00 "Today Pennsylvania health insurance premiums rise faster than the U.S. average, according to Steve Foreman, professor of Health Policy Research. Dr. Mark Piasio, President of the Pennsylvania Medical Society, testified recently that Pennsylvania health insurers raised premiums 40% per enrollee, between 2000 and 2004, from $2,161 to $3,022, an increase nearly double the U.S. average. At the same time, "insurer surplus reserves rose from $5 billion to $6.8 billion. Total annual profits of Pennsylvania health insurers increased from $468 million in 2000 to $621 million in 2004. This translates to an annual per enrollee profit for Pennsylvania health insurers in 2004 of $93.45. The equivalent profit for health insurers in the rest of the country that year was $79.79." Medical News Today, 9/7/06 "There are really only two significant health insurers left serving Philadelphia's five county region - Independence Blue Cross and Aetna. Ten years ago there were about ten," says professor Foreman. In western Pennsylvania, Highmark, one of the nation's largest health insurers, received 2005 approval for a 9.9% average premium increase, then sought a 6.6% boost for individuals, more than twice the rate of inflation. "Insurers squeeze policyholders because they're investor-driven and therefore, notwithstanding mandated community programs, they have no primary interest in health. As outstanding proof, consider their stockholdings in cigarettes, which kill 440,000 Americans (23,000 Pennsylvanians) yearly. They love Philip Morris (Altria)-- UnitedHealth: $5.6 billion invested. Aetna: $3 billion. MetLife: $2.2 billion. Cigna: $1.6 billion. "A health insurer that buys tobacco stocks cares more about profits than the health of its patients," said Dr. Wesley Boyd. --Journal of the American Medical Association. March 2000 "They squeeze doctors, too. Aetna was ordered by a federal district court in 2003 to pay $470 million to 700,000 doctors for cheating them and interfering with recommended treatments." |
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