New Report Focuses on BlueCross BS(Blue Shield)

Tomarrow, the Health Care for America Now! campaign will be releasing a report pointing out some of the major problems posed by the lack of competition in the health insurance industry.

Here are some of the problems which the report focuses on:

• BlueCross BlueShield of Tennessee, the dominant health insurer, holds 45 percent of the market. Together with United Health Group Inc., the state’s second largest health insurer, they control 61 percent of the market.

• Blue Cross Blue Shield of Tennessee recorded profit of $149 million in 2004. United Health reported a 721 percent increase in profit from its Tennessee operations from 2004 to 2007. During that time net earnings in the state climbed from $5.6 million to $46 million,while membership grew 28 percent.

• Health insurance premiums for working families have skyrocketed, increasing62 percent from 2000 to 2007.


You can get a copy of the report by clicking on the Tennessee link on from this link