Many of you who closely followed the national debate leading up to the Affordable Care Act of 2010 know about Wendell Potter. He’s the former VP of Communications at health insurer giant CIGNA who resigned his head PR job in May 2008 after he came to believe his job and the industry he was shielding were morally offensive.
|By: Scarecrow Sunday February 13, 2011 1:59 pm|
|By: Jon Walker Wednesday September 22, 2010 6:10 am|
Private insurers are the scorpion in the story of turtle and the scorpion. They have proven for decades they will do anything to avoid regulation, and will always put profits over the health care needs of regular Americans. Heck, by law, as for-profit corporations, they are required to put profits over everything else. Democrats let insurance companies hop on their back, and now they are smack-dab in the middle of the river with them. Don’t scream when they sting you–it is just their nature.
|By: Jason Rosenbaum Tuesday December 22, 2009 3:17 pm|
Ed Hanway, CEO of Cigna, one of the nation’s largest health insurance companies, will step down at the end of this year, in just over a week. When he does, he’ll get $73,200,000 as compensation for a job well done.
|By: Jane Hamsher Friday November 13, 2009 8:01 am|
Goldman says the “bear case” scenario — in which earnings per share for the top five insurers would decline an estimated one percent from 2010 through 2019 and the variance with current valuation is projected to be negative 36 percent. If nothing is done, they estimate stock prices will increase 47%.
|By: Tula Connell Thursday October 15, 2009 2:05 pm|
Stopping by the Rachel Maddow Show on MSNBC last night, AFL-CIO President Richard Trumka discussed why the AFL-CIO supports health care reform legislation that makes sure Big Insurance doesn’t monopolize the health care field—and why the bill passed this week by the Senate Finance Committee, which does not include a public option, must be improved as it goes through Congress.
Right now as your last guest [Wendell Potter, former Cigna executive] said, American insurance companies have a stranglehold on the health care industry. In 90 percent of the markets, they’re called highly concentrated, or there’s one or two companies that control them. As a result, profits have gone up 1,000 percent and premiums have gone up 300 percent. The only way to hold them accountable is to create competition and the only way you can create competition is with a robust public option.
Alison Stewart, who filled in for Maddow, asked Trumka:
Let’s talk about the public option. Is it a make or break issue?