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Posts Tagged ‘Health Care’

By Mike Zaman

The Health care bill as passed by congress, consumers feel, was a bailout for the insurance industry that had been hit exceptionally hard by the level of foreclosures. Several have already folded or merged.

American workers have been faced with a whopping 14% jump in the costs to insure their families.

A typical employee is paying, as their share of insurance coverage, about $4,000.00 for a family of four, up by $482.00 from 2009. But this is only their part; the employer pays the major portion around $9,800 which brings the full coverage to $14,000.00

Over the past five years, employees share of insurance premiums have risen 47%. And employees could see even higher costs in their plans come open enrollment for 2011.

With mandatory coverage, if it is not declared unconstitutional by the Federal Courts, insurance companies will have a windfall, while consumers will actually have a diminished purchasing power.

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The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.

By Mike Zaman

Chevron second quarter earnings showed a triple increase in earnings amid higher oil and natural gas costs for consumers. Does this mean we are being gouged by the oil companies?

Higher pump prices are being blamed on consumer demand, but is this true?

Exxon Mobil Corp. posted income of $7.56 billion in the quarter, Royal Dutch Shell Group boosted second-quarter earnings 15 percent, and ConocoPhillips said profits nearly tripled in the April-June period, and Chevron Corp. reported net income of $5.4 billion.

The real story: Oil consumption in the US has fallen in each of the past three years. So the higher prices at the pump are not based on supply and demand so much as plain gouging.

The US is the largest oil producer in the world producing some 7.196 million barrels per day (Mb/d), or 8.5% of the world’s total. This is more than Iran and Kuwait combined.

But with consumers strapped for vacation money, and lacking confidence in the economy, and the higher prices at the pump, there is no doubt we are being gouged. Perhaps if congress really cared they would pass an excess profit tax, surely that would help stave off some of these large deficits, actually it could help pay for all Americans health care.

The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.

By: Mike Zaman

As if it isn’t bad enough that the economy is still teetering, jobless claims are still up, and salaries are still down, more depressing news about our healthcare costs is announced. Pricewaterhouse Coopers recently conducted a survey regarding healthcare which covered 700 employers nationwide and the results were disappointing for employees to say the least.

First, employers are expected to see their health plan costs rise by 9% in 2011, while employees are expected to pay higher deductibles. Of course, most employers intend to offset the increased health care cost by increasing employee contributions to such health plans.

In fact, by 2011 it is estimated that over 50% of all employees nationwide will have a deductible of $400 or more, up significantly from 2008 when only 25% of employees paid $400 or more a year.

For struggling families, these higher healthcare costs are going to be another thing that increases poverty and homelessness in this country.

Disclaimer:

The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of Crown Equity Holdings or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.