For the Lowest Health Insurance Rates, Go Insurance Rates

For-profit insurance companies are on the hot seat after Senators have discovered that the companies have been using premium dollars deceptively. The companies have been reporting that they use a large majority of premium dollars strictly to pay medical claims, when in actuality, a much smaller amount is been applied to claims while the rest go to marketing, administrative costs, and of course profit.

A Senate analysis, released the second week of Nov. 2009, revealed that consumers are indeed getting the shaft on their premium dollars spent. When looking at the six largest insurers, the analysis showed that the following amounts were applied to medical claims in insurance plans:

• 74 percent is set aside for individual insurance plans.
• For small businesses, 80 percent is set aside.
• 84 percent is set aside for large businesses.

These numbers differ drastically from Medicare, which is reported to pay as much as 98 to 99 percent of its revenue on claims.

In other words, consumers in private plans are paying more than ever for their health insurance premiums and actually getting less in return, Sen. John Rockefeller (D-WV) explained.

He is pushing for health care reform in Senate that is similar to that in House, which would require insurance companies to rebate customers if they spend less than 85 percent of their premium on actual health care.

The insurance industry is opposed to putting any type of cap on profit, claiming that this will undermine other reform efforts to cut costs and improve patient care. However, Rockefeller disagrees and plans to continue his push in Senate.

How do you feel about your insurance company using some of your premium payment for profit?

You already know that health insurance is a complicated topic, but who knew even basic health could be so difficult? Thanks to YahooAnswerFail.com, we've rounded up the 10 worst health questions ever posted to Yahoo!Answers.

If it's one thing we've learned, it's that you shouldn't get your medical advice from strangers on the internet. Instead, get the medical attention you need from a doctor or start looking for free health insurance quotes courtesy of Go Insurance Rates.

President Obama has been promising a completed health care bill by the end of 2009 since virtually all year, but now Senior Congressional Democrats say this probably won't happen. This news comes only a week after Obama declared that he was "absolutely confident" that he would be able to sign...

Dealing with the high costs associated with health care can be difficult for retirees. According to recent research conducted by the Center for Retirement Research at Boston College, 60 percent of retirees will likely be unable to maintain the lifestyle they were accustomed to before retirement...

A baby born 21 weeks premature in the United Kingdom was denied resuscitation at the discretion of the doctor because her survival likelihood was too low and the costs associated would be too high. This incident has sparked a debate in the United States as to how much money can (or should) be...

In an effort to shed some light on the number of people who fall victim to the health care system each year, a new website has been launched to honor those who have died as a result of health insurance denials. Rep. Alan Grayson (D-FL) started the site, which was launched in October 2009, to...

Senate members are in a mad scramble for cash to finance the health care overhaul, leaving them to look the money they lose every year to Medicare and Medicaid fraud. According to Senate Judiciary Committee Chairman, Patrick Leahy (D-Vt.), cracking down on this type of fraud could help reduce...

Return to the Denied Health Insurance Learning Center

If you've been itching to get your H1N1 vaccine but fear it's too late, you'll be happy to know it's not. According to Health and Human Sources secretary, Kathleen Sebelius, who spoke recently on ABC's Good Morning America , over 250 million doses have been ordered and as many as 16.5 million...

If Senate Majority Leader Harry Reid (D-Nev.) gets his way, states will be able to opt out of a proposed government-run insurance plan. The plan, which was recently placed on the table, would serve as a low-cost alternative to private insurers.

The Basics of the Proposal

Reid's government-run...