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Health Insurance Preimums to Rise 94 Percent by 2020: Report

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Robbien Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 03:05 AM
Original message
Health Insurance Preimums to Rise 94 Percent by 2020: Report

A report released Thursday by the Commonwealth Fund, a 90-year-old non-profit health care charity, shows what's on the line without health care reform: a 94% increase in health insurance premiums.

The analysis of health care costs, called "Paying the Price: How Health Insurance Premiums Are Eating Up Middle-Class Incomes," forecasts that employer-sponsored family plans will rise from an average cost of $12,298 in 2008 to $23,842 in 2020. In contrast, the same coverage would have cost around $9,200 in 2003.

The title has the key point: middle-class. Don't think health care costs just affects the poor; it's eating away at middle-class incomes as earnings stagnate for the middle-class, and health care costs increase.

In response, Deborah Burger, RN, co-president of the 86,000-member California Nurses Association / National Nurses Organizing Committee said the following :

"These findings are merely the shocking state of premiums, not even including a concurrent jump in out-of-pocket costs for deductibles, co-pays, and other fees. It's no wonder that medical bills now are the leading factor in 62 percent of bankruptcies, and half of American families are rationing medical care because they can't afford it.

"Yet, rather than show any compassion for how their price gouging practices have harmed so many families, the insurance giants are planning to continue to plunder the American people with more huge increases in premium prices.

"Such practices should remind us why there is such a desperate need for real reform. Unfortunately, there is little in the major plans being discussed to crack down on the pricing practices of the insurance industry.

http://www.huliq.com/3257/85286/health-insurance-preimu...

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Chemical Bill Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 06:57 AM
Response to Original message
1. That's all? n/t
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ejpoeta Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 07:35 AM
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2. why should they show any compassion for anyone or anything.... it's obvious their tactics have
worked in the past and barring some miracle growth of balls and backbone soon, they will be free to continue it for the foreseeable future. And if we don't get our reforms, then i don't want to hear any bellyaching from my brother or anyone else that has pissed and moaned about the effort to get the healthcare issue under control.... when the rates go up and none of these people can afford insurance, i'll be like... oh well.... at least the government isn't getting between you and your doctor. well, you don't HAVE a doctor anymore, i guess... but the government can't get in the middle of it.
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Doctor_J Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 12:10 PM
Response to Original message
3. Since only 40% or so of Americans will have access to health care by then,
this makes perfect sense. This of course supposes that We The People haven't hunted down the health insurance execs and their congressional whores with some torches and rope by then.
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justinaforjustice Donating Member (519 posts) Send PM | Profile | Ignore Sun Aug-23-09 01:47 PM
Response to Original message
4. Kill the Insurance Companies: Medicare for All. n/t
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thelordofhell Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-23-09 01:50 PM
Response to Original message
5. Health insurance industry's "peak oil"
Let's see how long your business will last when you price your customers out of the market. The only people in this industry not making any sacrifices are the CEO's and BOD's.
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