Anthem Says Health Care Costs Unsustainable

http://www.latimes.com/news/nation-and-world/la-fi-anthem14-2010feb14,0,747384.story

I think I have heard this before somewhere?? Wow, a 40% rate hike, and not a single law has been changed in the US. This is just business as usual for insurance companies, and even they call this unsustainable. So why are they fighting changing the system??

I am VERY surprised to read that California allows a 70% rate on actual expenditures on benefits. That leaves the companies 30% of every dollar to use for operations, bonuses and profit. And by the way, Blue Cross is owned by WellPoint since 2004.

Wellpoint posted almost $5 Billion of income in 2009. Oh, that answers why they really don't want to change a thing. Just make it seem as such.

I recommend anyone stumbling onto this post, to read this: http://hcfan.3cdn.net/a9ce29d3038ef8a1e1_dhm6b9q0l.pdf