To Aetna’s CEO – Did you Read the Bill?

It looks like the CEO of Aetna was not well prepared for a Business Week Interview. Here is Mr. Williams comment:

Will insurance premiums go up? (BW)
The answer is yes, and some of the things that will drive those premiums are significant additional taxes the industry will ultimately have to pay in the first year.

The problem with this comment is that is flat out wrong and misleading. One might call it a lie.

There are NO new taxes on Insurers until 2013 per the Tax Foundation.

Remember Aetna is the same insurer that showed such respect for the new HIPAA HITECH law that they didn’t even communicate with their producers until days before its 2/17/2010 deadline.

At least Cigna CEO, David Cordani offers a bit more honest but still self serving appraisal of why costs increase in an interview with Neil Cavuto:

Insurance commissioners in every state will continue to be very diligent…the underlining premium costs are driven by underlining health care costs and in an environment where emergency room utilization and costs have quadruped in five years, use of MRIs have doubled in the last five years, biomedical utilization is growing rapidly. The costs will continue to grow and that’s the opportunity that wasn’t addressed.

Once again we see one of the major players in health insurance, who according to him represents 35,ooo employees not telling the truth.

This is why people find it hard to trust any insurer when even the simplest facts are disregarded.

Explore posts in the same categories: brokers, Employee Benefits, Healthcare, Healthcare Insurers, Healthcare Reform, Insurance, politics

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One Comment on “To Aetna’s CEO – Did you Read the Bill?”

  1. […] Industry Radar Insights Knowledge is Power. More Knowledge is the Ultimate Power. « To Aetna’s CEO – Did you Read the Bill? […]

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