A recent review of the profits claimed by the large health insurance companies in this state and nation can lead to only one conclusion and that is The Health Insurance Companies Love President Obama.
WellPoint, which is made up of Blue Shield Anthem and Blue Cross will now be anticipating a profit of $73 Billion for 2014. That information is based upon their latest press release dated April 25, 2014. It appears the value of the WellPoint shares have increased from $8.00 per share to $8.20 based upon the estimated one million new policyholders due to the Affordable Care Act.
United Health Group reported $31.7 billion in revenues for the first quarter of 2014 which still was not as high as Wall Street anticipated for this Group. For the full year of 2014, United Health Care Group anticipates an income of $129 billion.
Before I conclude this article I would like to state that I believe that when President Obama leaves the White House, he will eventually be provided with a seat on the governing board of a major health care insurance company in payment for being the best salesman they ever had. I use to think that Snoopy was a good sales rep for Met Life, but Mr. Obama has them all beat.
Two months ago I published an article dealing with freedom from the Affordable Care Act. I will repeat a portion of the article here with a warning that higher health care premiums are just around the corner.
“More peace of mind for the low price of just $522.78 per month.” That was the thrust of the latest advertisement received at my home concerning the benefits offered by the Affordable Care Act (ACA). The advertisement was sent to my wife by The Kaiser Permanente Health Plan, due to the fact that neither my wife nor I have signed up with the new program yet, and never will.
The advertisement states that based upon my wife’s age, and the zip code she resides in, that she is eligible for Kaiser Permanente (KP) CA Bronze HSA 4500/40%. This means that a $4,500 deductible will need to be paid by my wife, and then she would be responsible for 40% of the billed charges.
I have two questions concerning this offer, first, if we lived in a different zip code would the plan being offered be different, and second, how would survival be possible for her, and other people her age living in the same zip code, receiving a similar amount of Social Security Benefits?
The time has now arrived for people to grasp the fact that the Affordable Care Act has developed
into a financial boom for the insurance industry. Instead of a plan which is controlled by the Federal and/or State governments, the public is being forced into the purchase of insurance policies from the very companies which were being vilified for price gouging and lack of care for their customers.