Sen. Dianne Feinstein: Urgent Action Necessary to Stop Health Insurance Corporation Greed

Posted by Trish Riley, July 11, 2010

My own Blue Cross policy recently increased by 100 percent. What’s going on with your health insurance? Thanks to Diane Feinstein for fighting this:

“Aetna has scrapped plans for rate hikes of nearly 20 percent, just two months after Anthem Blue Cross — a subsidiary of WellPoint, Inc. — was forced to cancel controversial plans for rate hikes of nearly 40 percent…

At a time of great hardship for many Americans, it is unconscionable that these mega-corporations can simply misplace a few decimal points and quickly rack up millions in unjust profits. Given the recent instances of corporate malfeasance that have shaken Wall Street to its core and created a disaster of historical proportions in the Gulf of Mexico, these actions beg for more scrutiny.

I believe it is time to shine a bright spotlight on how health insurance companies calculate the need for rate hikes.”

read more Sen. Dianne Feinstein: Urgent Action Necessary to Stop Health Insurance Corporation Greed.