Monday, June 22, 2015

US Health Care In A Nutshell

I was happy to hear AG Loretta Lynch announce the arrest of hundreds of healthcare fraudsters, including docs, nurses, and various suppliers. But really, that's small potatoes. The real ripoff of health care dollars is totally legal, and by design.

Want to know why I and so many others were disappointed when President Obama went with a conservative plan for health care reform? Need evidence that insurance companies are sucking untold amounts of money from the system and putting it into the pockets of investors? Think that has nothing to do with the cost of health care in the US? Believe that the ACA is making it tough on insurers? Yeah. Right.

SAN FRANCISCO (AP) — Health insurer Cigna Corp. has rejected a $47 billion offer to be acquired by its larger rival, Anthem Inc., saying the terms of the bid are inadequate and "woefully skewed in favor of Anthem shareholders." 
Cigna's sharply worded rejection came just one day after Anthem went public with its cash-and-stock offer, which amounts to about $184 for each Cigna share or about an 18 percent premium on Cigna's closing stock price on Friday.
What a shameful situation. As people still struggle to afford access to health care in the US, dollars meant to pay for that care are being handed over, right in front of all of us, to insurance CEOs and investors. It makes no damn sense. It's a scam and a travesty.

Billions. They'd pay billions to get in even deeper on the racket. Rejected because it's not enough of a ripoff from premium payers, too little of a windfall for investors.

And Obama's a socialist.

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