For many people, health insurance premiums take a sizable bite out of their paychecks. Which would be somewhat tolerable if insurance companies did anything to ease the process of actually receiving medical care. Heck, most of us would tolerate the pricey payments if insurers just did the bare minimum of what they are supposed to do and didn’t put up roadblocks to getting the proper care. And yet that simple concept appears to be too complicated for some insurance providers to grasp.
Earlier this week, the Dept. of Health And Human Services announced that consumers had saved $1 billion thanks to a condition of the Affordable Care Act that requires state insurance authorities to review health insurance premium increases of at least 10%. But in some states, those reviews are merely a formality that have no ability to rein in insurance premiums.
Talk about the power of social media — one graduate student battling Stage IV colon cancer in Arizona found out his Aetna health insurance plan had exceeded his $300,000 limit.He took to Twitter to express his frustration as his medical bills continued to grow and it turns out someone very influential was listening — the CEO of Aetna, who has subsequently agreed to pay “every last penny” of the man’s medical expenses and agrees that the healthcare system is broken.