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American health insurance: a failed model

DCblogger's picture

Via Atrios: Health Net ordered to pay $9 million after canceling cancer patient's policy

One of California's largest for-profit insurers stopped a controversial practice of canceling sick policyholders Friday after a judge ordered Health Net Inc. to pay more than $9 million to a breast cancer patient it dropped in the middle of chemotherapy.

The ruling by a private arbitration judge was the first of its kind and the most powerful rebuke to the state's major insurers whose cancellation practices are under fire from the courts, state regulators and elected officials.

Check out the insider trades for Health Net, corporate management has dumped 525,356 shares. That is a sure sign that management knows that they have a failed business model. They are just going to milk this for everything it is worth until we shut them down.

Single payer now!

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Sima's picture
Submitted by Sima on

A private arbitration judge coming down on the side of the sick. My goodness this is really great news.

Submitted by lambert on

The right people are making a ton of money, and the wrong people are dying.

What's not to like?

[x] Any (D) in the general. [ ] Any mullah-sucking billionaire-teabagging torture-loving pus-encrusted spawn of Cthulhu, bless his (R) heart.

First they ignore you, then they ridicule you, then they fight you, then you win. -- Mahatma Gandhi