Blockage Of Inexpensive Health Insurance By Decade-Long Profits

Blockage Of Inexpensive Health Insurance By Decade-Long Profits
Blockage Of Inexpensive Health Insurance By Decade-Long Profits

The health care reform now moves to the Senate and concerns over costs of legislation now raise.
Supporters of health reform are stating that reasonably priced health insurance is within reach if spending is managed.
They have a point there due to the fact a lot of health care companies which are listed on the Standard and Poor’s 500 have tripled their profits on average in the last 12 years.
Over a 10-year period there has been a considerable loss for most economic markets. But the health industry continues to make more and more money which really does make sense because people are still going to be getting sick and having to go to hospitals and clinics to be cured or healed.
The increasing health care costs over this period of time have really made it hard for people to continue to find the money for coverage.
The usual scapegoats for more expensive health plans are the health insurers themselves. There is no doubt that health insurance companies had a profitable ten years. The six health insurance companies in the S&P 500 made over $10 billion in profits.
These massive profits seem to be what’s standing in the way of people getting affordable health insurance.
But I bet you did not realize that insurance companies are the least profitable of the health care industry.
If insurers are not the one responsible for shortage of cheap health insurance then who is? Medical device makers and medical suppliers have seen the most improvement in the past decade. The latter raised their profits by 15% while the former increased theirs by almost 17%.
In the mean time, pharmaceutical firms doubled their profits, while raising their margins to nearly 25 percent. All of these industries have been responsible for valuable scientific advances in medicine. On the other hand, they have also triggered the soaring cost of insurance during the same time frame.
How can we solve this problem? Control of prices is very improbable but regulations enacted for the health care bill will be able to help the health care industry and make health care insurance a bit more affordable.
There will definitely be more affordable health insurance if health insurers are not required to pay for very expensive rates for their services and supplies but no one is sure how to make it occur.