October 1st starts the official marketing by the insurance companies for Medicare Advantage and Part D Plans. It’s time for you to make a comparison. Needless to say, plans that were affordable during 2009 are now increasing monthly premiums for 2010.
We enrolled in AdvantraRX for 2009 because the premiums and copayments were reasonable compared to the huge increase Humana initiated for 2009. But sticking in the back of my mind was the question whether AdvantraRX was going to be like every other insurance company who “low balled” their premiums and hit you with a substantial increase for 2010. The answer to this is YES!
AdvantraRX has increased our Part D premium by a 60%+ increase for 2010. This is unconscionable and really shouts “Greed Factor.”
Alan F. Wise took over as CEO of Coventry Healthcare in January 2009 and signed an employment agreement that guarantees him $2.75 million for 2009 and will be paid another $2.75 million in January 2010. Now Mr. Wise isn’t making the $24 million like other CEOs in the health insurance industry, but he has no conscience to allow this type of greedy premium increase, and it’s immoral. He is 66 years old and probably enrolled in Medicare.
According to Wikipedia – A Person with no Conscience -- "Conscience - ability or faculty that distinguishes whether one's actions are right or wrong. In plain English, it is a person's inner sense of what is right or what is wrong morally. It leads to feelings of remorse when one does things that go against his/her moral values and to feelings of rectitude or integrity when one's actions conform to our moral values. It is also the attitude which informs one's moral judgment before performing any action. The extent to which such moral judgments are based in reason has been a matter of controversy almost throughout the history of Western philosophy."
Seniors on Medicare won’t be receiving any COLA (Cost of Living Increase) for 2010 and probably none for 2011, but the insurance industry doesn’t care. As a matter of fact, some of this gross greed is because our legislators have allowed it to take place and there are no regulations or oversights for premium increases that the insurance industry is allowed to initiate to those enrolled in Medicare.
My question to you Mr. Wise: Do you fit the definition of a person with no conscience? Your rate increase certainly justifies it.
And to all on Medicare – shop around for 2010, contact your representatives and let them know if you have been a victim of immoral and unconscionable premium increases. You can also write to President Obama by going to http://www.whitehouse.gov.
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