Healthcare Horrors

The lead article in today’s New York Times, “Health Insurers Profit as Many Postpone Care,” makes me glad the Democrats finally passed national health insurance. The nation’s major insurance companies are raising premiums substantially faster than the rate of inflation despite record profits and a decision by many consumers to forego medical treatments they believe are unnecessary.

Many wonder whether the rapid increase in premiums is based on a fear by many insurance companies about the launch of President Obama’s healthcare act, primarily slated to kick in around 2014 or 2015. One of the most expensive provisions, a requirement to cover people despite potentially expensive pre-existing conditions, may be unpredictable in its effect on private insurance companies.

Still today, many people still suffer from high deductibles; 10 percent of people with employer-based coverage are hit with a yearly deductible of $2,000, and, in these uncertain economic times, that is making them think twice about elective procedures, using brand versus generic drugs and even preventive tests such as a mammography or colonoscopy.

Insurers are claiming that they expect patient demand for procedures to increase again later in the year, but noone knows that for sure, and meanwhile these predatory companies are rolling in cash and increasing rates by double digits to boot.