I own a small business and use a PEO called Oasis Outsourcing to perform all my payroll and benefit administration. I use their Aetna Health Care Plan for all my employees. Yesterday, Oasis informed me that for the next plan year, starting on October 1, that Aetna was increasing their rates by 23%; and that we were on the low end of their increase scale.
Now I have already heard all sorts of excuses as to why that is:
a:) Colorado introduced legislation to ensure uninsured Coloradans received care, and that cost is being passed through to the insured residents of Colorado.
and
b:) In general, people are using their health care more now than they were (doesn't make sense to me?) due to the economy.
The timing of the increases seems odd to me. If they ever wanted the Government to get involved and push public sentiment against insurance companies, now is a great time to look like you are trying to hose the public.
Maybe they are trying to get as much $$ as they can before the public option becomes a reality? I don't know, but in a SH***Y economy, their timing couldn't be worse. Many employers can barely afford to provide coverage right now, and this may put them over the edge. You've got to admit, Aetna has got some balls.
Anyone else out there with similar stories? We need get get some publicity going on this. The timing is perfect for the democrats to demonstrate how the insurance companies are screwing the public. WE NEED A PUBLIC OPTION NOW.