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Insurance Companies See Record Profits In 2010
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The economy may be stagnant, and American citizens may still be struggling to cover their insurance premiums, but major insurance companies certainly aren't suffering from the same problems.
This week it was reported that health insurance companies are reporting a startling 41% increase in their profits for 2010, and about $9.3 billion dollars in profits for the first three quarters of 2010.
In an economy struggling with unemployment, and where many small business can't afford to offer coverage to their employees, this news has caused quite a stir. Pete Stark, the outgoing chairman of the House of Representatives, has asked health insurance companies to return some of these profits to the public by lowering the cost of their premiums.
His open letter was addressed to most of the major insurance companies, including Aetna, United Healthcare, Humana, WellPoint, and more.
In response insurance companies have suggested that Democrats spend less time worrying about health insurance companies' profits, and more time working on the overall cost of health care and medical treatments.
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