To back up a bit – My wife and I are responsible for paying for our own group coverage through our retirement. Clearly, the health insurance industry as a whole needs to get an an eye exam; they seem to be rather blind regarding recognizing the parallels between what happened to the Housing Bubble and the ever expanding Medical Insurance Bubble.
Let me bring it more in focus with a very personal example -- Our own personal medical insurance premium costs:
- 2009 1,122.11 13.7% increase
- 2008 987.98 10.4% increase
- 2007 894.65
I pay more each year to get less coverage.Do the CEO’s of Regents and other medical insurance companies really think this trend is sustainable? They’re not stupid – they are only looking out for their self-interest. They will unfurl their Golden Parachutes and bail when this bubble pops.
Recently Regents notified me that I can no longer take Lipitor to lower my cholesterol. I switched to the generic alternative which caused me to experience… uh, well symptoms akin to having eaten a Tijuana Taco. My request to go back to Lipitor (which had worked well for me for a decade) was refused. The ONLY reason Regents wants me to switch to the generic is to save THEM money! In turn they will charge me MORE in premiums and cover LESS of my visits and procedures.
In the mean time I watch Republican Senator John Boehner (yes, I will pronounce it “boner”) asking at a press conference “do Americans really want Washington-Run Medical?” YES, John – we do! We want the same Washington Run medical care that YOU get.
I am now personally motivated to do whatever I can to completely disassemble the current private medical care system in this country.