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The health insurance rates for our very small group are going up by 34.86%. This is shocking.
We need reform, and we need it NOW!
Brian, I wish you would talk about the cost of health care in New Jersey. Everything is more expensive than in New York. I wonder why that is.
Most large insurers are large public corporations, and so report profits quarterly. You can go on SEC.gov and look at how much profit these companies take.
Brian - has your guest examined the percentage these companies spend on marketing and administration? It's commonly called the SGA line in financial statements. This is another figure worth examining.
What percent of my premiums go to lobbying and marketing?
Ask how these companies compare to utility companies in the area. There has been discussion (since lost) that health insurance should be viewed like public utilities-monopolies who are regulated by a public trust. Can this parallel be established?
My advice to young people is don't be a freelancer. My Empire Blue Cross Blue Shield premiums have increased more than 50% in the past two years. I expect that to continue, and I'm now considering dropping health insurance all together because I can no longer afford it.
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