Insurance Companies Increase Cost of Medical Treatment: Privatization is About Making Corporations B

http://blog.buzzflash.com/node/12775

The Republican effort to privatize Medicare insurance is nothing but a strategy to redistribute wealth upward. It has nothing to do with improving care and cutting costs. In fact, it would decrease access and the quality of health care for seniors, with the exception of the richest Americans.

That is because for-profit insurance companies make money, as BuzzFlash has noted before, by adding overhead (profit) to the cost of health insurance and denying as many medical services as possible to increase net revenue.

Wendell Potter, a former CIGNA vice president, reveals where some of that profit goes:

You might be surprised to learn that more and more of the dollars you pay for coverage are being sucked into a kind of black hole.

Much more at the link --