Christmas cards
Question
why are some of us forced to pay more and more for insurance that covers less and less?
when i was employed my insurance i was required to have was outrageously expensive.even when i'd get doctors preapproved,there would be a loophole where nothing got paid.i had to quit my job,due to medical problems and no way to fix them. the insurance company would send out christmas cards,telling us how many millions they raked in and little they paid out. i'm not a stockholder, i was a customer. Category if they didn't profit from the thousands i paid in,where did it go?
1 month ago - 3 answers
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Health insurance premiums have doubled in the past 10 years. Some of that's because people are getter older and hence, sicker, some is because medicine is getting more expensive because of expensive tests (cat scans, MRIs) that have become commonplace that weren't even around 10 yrs ago. We all want the best, and that costs. Another reason is that, like everyone else, they lost money in the financial debacle. Investments used to help pay their costs; now like everyone else, their investments are in the hole. So to keep the business running, they raise premiums. www ... "Washington, D.C. – Premiums for employer-sponsored health insurance rose an average of 6.1 percent in 2007, less than the 7.7 percent increase reported last year but still higher than the increase in workers’ wages (3.7 percent) or the overall inflation rate (2.6 percent), according to the 2007 Employer Health Benefits Survey released today by the Kaiser Family Foundation and Health Research and Educational Trust. Key findings from the survey were also published today in the journal Health Affairs. The 6.1 percent average increase this year was the slowest rate of premium growth since 1999, when premiums rose 5.3 percent. Since 2001, premiums for family coverage have increased 78 percent, while wages have gone up 19 percent and inflation has gone up 17 percent. The average premium for family coverage in 2007 is $12,106, and workers on average now pay $3,281 out of their paychecks to cover their share of the cost of a family policy."
Source(s)
Financial planner
by Susie T
1 month ago
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by snipper's zone- 1 month ago
Because we're becoming more and more likely to file more and more claims. Just like the 16 year old kid with two at fault accidents under his belt pays more for auto insurance, the older and fatter you get, the more you pay for health insurance. Insurance companies don't make profits off their premiums - they pay out $.99 for every $1 they charge. So . . .when rates are going up, it's because claims are going up. (They make their massive profits off of investing their reserves.)
by mbrcatz- 1 month ago