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Friday, November 09, 2007
Health Insurance scoundrels
By VictorM:The "for profit" health system we have in this country is at the heart of the many problems we're facing. The Los Angeles Times, in a nice investigative report, nails another health insurer practicing the despicable practices that those of us who care have known all along:
One of the state's largest health insurers set goals and paid bonuses based in part on how many individual policyholders were dropped and how much money was saved.
Woodland Hills-based Health Net Inc. avoided paying $35.5 million in medical expenses by rescinding about 1,600 policies between 2000 and 2006. During that period, it paid its senior analyst in charge of cancellations more than $20,000 in bonuses based in part on her meeting or exceeding annual targets for revoking policies, documents disclosed Thursday showed.
The revelation that the health plan had cancellation goals and bonuses comes amid a storm of controversy over the industry-wide but long-hidden practice of rescinding coverage after expensive medical treatments have been authorized.
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