The (insurance) facts don’t add up.

Last week Senator Harkin was talking about a subpoena to coerce insurance industry executives to explain the current round of rate increases. With just a little bit of research one can find examples of rate increases between 25% and 54% all over the country and from many different insurance companies. The Democratic majority’s rhetoric and their massive heath care bill are clearly based on the assumption that the evil insurance companies are behind the problem and that government needs to force them into line.

I found one liberal article that was decrying the fact that insurance companies that were paying 95% of each premium dollar for medical costs in the early ’90’s are only paying out 81% now. That fact was apparently fuel for another of Harkin’s speeches, where he cited a 428% increase in insurance company profit margins, while worker salaries increased only 29%. Go ahead, see if that doesn’t seem like a blatant attempt to mislead with statistics – I’ll wait.

Recently, the AP’s Calvin Woodward reported: “health insurance profit margins typically run about 6 percent’’ of revenue, a return “that’s anemic compared with other forms of insurance and a broad array of industries.’’

So, Senator Harkin, I say let’s do it. All the claims (no pun intended) don’t add up. Let’s put this massive misguided attempt to take over 1/6th of the economy on hold. Let’s get to the bottom of what is really driving the escalating cost of health care. Then let’s work on that.

All you insurance company executives, are you just waiting for the government to take over your business? You are grossly at fault in this situation by hiding the facts from the public you “serve”.  If you are tired of the Congress trying to make you the villain, don’t make it so hard to get to the truth.


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