Anthem Blue Cross follows the time honored health insurer practice of flushing high risk people out of the beneficiary pool by increasing rates. 39% increase for thousands of individual policy holders in California. It’s great for business but bad for healthcare.
Wellpoint is the owner of Anthem. It’s stock price is at 61.45. The company earned 4.7 billion dollars last year, yes billion, or $9.88/share. This is in the range of 15% of the stock price. A return of 15%/year is astounding in a bear market.
Medicynical Note: This company’s primary goal is not the care of the sick and infirm but profits. Is this a health care system? Or a money making system? It can’t be both without bankrupting us all.