OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Insurance Company Profits

Date: July 28, 2009
Location: Washington, DC
Issues: Health and Health Care


INSURANCE COMPANY PROFITS -- (House of Representatives - July 28, 2009)

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Mr. STUPAK. Mr. Speaker, right now just about 60 percent of Americans receive their health insurance from their employer. But from 2000 to 2007, the annual health insurance premium for employers and employees rose from $6,628 to $12,153. The average worker's share of premiums grew by 116 percent, and the average employer's share rose by 75 percent, while wages only went up 4 percent.

Americans can no longer afford health insurance through the insurance company. In fact, a recent study found that 73 percent of all Americans who seek an individual insurance policy do not end up purchasing one, either because they were turned down due to preexisting conditions or their premiums were unaffordable.

Mr. Speaker, all Americans should be entitled to health insurance. But according to the SEC, Security and Exchange Commission, filings from 2000 to 2007, profits at the top ten publicly traded health insurance companies rose an astonishing 428 percent, from $2.4- to $12.9 billion.

Get the excessive profit out of health care. Provide health care for all Americans.

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