Health Insurance Companies are Booming Even in Economic Downturn

How do you feel when you hear the term “health insurance?” After reading the New York Times article, Health Insurers Making Record Profits as Many Postpone Care, I shutter!

Due to the economic state, many Americans have chosen to abandon or postpone medical care. They are more conscious of costs because gas and food (other necessities) are more expensive. Because of this, health care (especially mental health care) goes out the window. Insurance companies have since increased their premiums and are now racking in record profits. They claim it is largely due to the fact that they are protecting themselves for when Americans have the money to spend on health care again. Many who are in need of health care are scared that they cannot afford what is prescribed.

This is a case of the big bad companies playing into the fears of the little guys. They are exploiting the natural fear that humans have and are using it for their financial gain. Greed is ugly! This is the reason why privatization of health care does not work. If you are shopping for health insurance, make sure to find out about mental health care benefits. Click here to read a blog about what you need to keep in mind when you are in this situation.