At a time when health insurance rates are rising at an almost surreal pace, it will likely not come as a great surprise that the nation’s largest health insurance companies are posting record profits for the third year in a row.
But this good fortune is not simply the result of skyrocketing premium charges.
The really good news for insurers is that people are staying away from doctors and hospitals in droves – allowing the insurance companies to keep those premium payments locked in their bank accounts rather than paying it out to health care providers.
So, to what does the insurance industry owe this debt of gratitude for this sudden lack of interest in our own health?
They can thank the growing popularity of high deductible health insurance polices and larger co-pays combined with tough economic times.
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