Insurance Providers' Profits Are Up While Coverage Dwindles, Claims New Report

Thursday, February 11, 2010 at 1:13PM
Talk Radio News Service (Admin) in Frontpage 1, Health Care for America Now, News/Commentary, Sofia Sanchez, health care reform

By Sofia Sanchez - University of New Mexico/Talk Radio News Service

A new report compiled by the organization Health Care for America Now finds that leading insurance providers made record profits in 2009 while simultaneously dropping many Americans' coverage.

“These companies increase their profits by 56 percent last year while shedding 2.7 million people from private insurance,” said Richard Kirsch, National Campaign Manager for Health Care For America Now, during a conference call with reporters.

Kirsch says that these companies are spending more money on administrative work than distributing health care to individuals, and notes that these companies have also spent 25 percent more lobbying against comprehensive health care than in 2008.

In light of the report, Rep. Rosa DeLauro (D-Conn.) reiterated the economic case for reforming the health care system.

“We need to press forward to have health insurance reform to provide economic security for American families,” said DeLauro. “We have seen bad behavior come from the health insurance industry."

Article originally appeared on Talk Radio News Service: News, Politics, Media (http://www.talkradionews.com/).