| Health insurers warned against the Obama | | | | However, an increasing number of people are doubting |
| administration's reforms. According to them, the | | | | the industry's motives. During a period when |
| premiums from the guaranteed influx of customers | | | | consumers and small businesses have been forced to |
| complying with the law's individual mandate would not | | | | cut back, some chief executives have not followed |
| offset the higher medical costs resulting from their | | | | suit. In fact, most of them effectively received raises! |
| being forced to accept patients with pre-existing | | | | According to filings with the Security and Exchange |
| conditions. | | | | Commission, the five major for-profit health insurance |
| Indeed, several major health insurance companies | | | | providers paid their heads about $200 million during the |
| have increased their rates since healthcare reform | | | | last fiscal year. |
| passed in March. Democrats in Congress have sternly | | | | The most egregious example is with Cigna; former |
| told insurers that purposely increasing rates ahead of | | | | chief H. Edward Hanway received a nearly $111 million |
| the deadlines for rate caps is strictly verboten. It | | | | golden parachute for his retirement. That does not |
| remains to be seen if recent increases would be | | | | even include the over $20 million his successor was |
| considered justified. | | | | also paid in 2009. That is a hard pill for many to |
| Said increases include a 29% jump in health insurance | | | | swallow when affordable health insurance has |
| rates for Humana policyholders in Utah, as well as a | | | | become more difficult to find. |
| nearly 16% increase in individual premiums for Rhode | | | | On the other hand, kudos must be given to the CEO |
| Island residents under UnitedHealth. If these are truly | | | | of Aetna. Ron Williams' total compensation (consisting |
| based on medical inflation and increased administrative | | | | of base salary, bonuses, and stock options) dropped |
| costs, the changes are painful, yet reasonable. | | | | from $24.4 to $18.2 million. |