Something's are better stated by others--so here goes:
Tom Murphy and Ricardo Alonso-Zaldivar, Associated Press Writers wrote the following on Thursday February 11, 2010, 6:14 pm:
WellPoint insurance hike becomes target for Obama
Obama says premium hikes by WellPoint are reason for reform, insurer blames recession, costs
"INDIANAPOLIS (AP) -- Health insurer WellPoint blames the Great Recession and rising medical costs for its planned 39 percent rate increase for some California customers. To President Barack Obama, however, it's Exhibit A in his campaign to revive the health care overhaul.
"Health and Human Services Secretary Kathleen Sebelius, who received the company's explanation in a letter Thursday, said 'it remains difficult to understand' how premium increases of that size by can be justified when WellPoint Inc. reported a $2.7 billion profit in the last quarter of 2009.
"'This is a stark illustration of what the status quo means for American families,' said White House spokesman Reid Cherlin. 'You'd be hard-pressed to find a better example of why reform is so urgent, and it's going to continue to be part of the case the president makes.'"
For all of you Tea Party fanatics--notice how this company made a 2.7 billion dollar profit in the last quarter of 2009. I don't even want to know what they made the rest of the year. Now they want a 39% price increase.
This is why we need government intervention in healthcare.
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