Why did wellpoint raise premiums 36% before healthcare vote?

Discussion in 'Wall St. News' started by KINGOFSHORTS, Mar 25, 2010.

  1. Makes no sense, they handed obama free ammunition. Why did they not wait till next year to raise insurance premiums to its customers 36% that way healthcare does not pass and they get their money.

    now they kind of shot themselves in the foot or did they and this was planned so they can now make guaranteed money by getting paid from the government to insure the other 30 million.
  2. pspr


    Obama has been working with insurance companies on Obamacare from day one. I suspect the insurance companies see the massive new numbers of customers the bill will send to them under threat of penalty and raised rates to help push the bill through Congress.
  3. lrm21


    Insurance companies see the writing on the wall.

    They are barely profitable as is., 39 million on 6.8 billion for 2009 for wellcare

    They have been effectively nationalized, and will become public utilities, they will begin failing leaving a few connected entities that will run as defacto government monopolies.