News Headlines Article

Stark presses insurers to lower premiums
Modern Healthcare

Rep. Pete Stark (D-Calif.), outgoing chairman of the House Ways and Means Health Subcommittee, has sent letters to the CEOs of the top 10 for-profit health insurance companies asking them to lower their premiums in light of rising profits. The 10 insurers reported combined profits of $9.3 billion in the first nine months of this year, about $2.1 billion more than the same period of 2009, a 41% increase, according to Stark.