Is privatization the answer?

As one of my first blog posts, I'm including an excerpt from a paper I recently wrote regarding the death of healthcare reform:

"The Blue Cross Blue Shield of Michigan and Aetna, both represented by AHIP or America's Health Insurance Plans, an organization dedicated to lobbying on behalf of health insurers, reported staggering increases in revenue associated with premiums and fees (America's Health Insurance Plans)*. Blue Cross Blue Shield of Michigan reported 8,686.5 million dollars in total premium and fee revenue in 2006 and 9,849 million in 2007 (5). In a single year, the insurance company accounted for a nearly thirteen percent increase in total revenue associated with premiums and fees (5). Aetna reported comparable rates of increase between 2005 and 2007 (7). In 2005, Aetna reported 16,924.7 million dollars in revenue on premiums alone (7). Furthermore, Aetna reported 19,153.5 million in 2006 and 21,500.1 million in 2007 (7). Between 2006 and 2007, the insurance company accounted for an approximately eleven percent increase in revenue based on premiums (7). Similarly, Aetna experienced a tremendous thirteen percent increase between 2005 and 2006 (7). As profits skyrocket, insurance companies benefit as the numbers of uninsured individuals and families rapidly increase and individuals with insurance face increasing premiums as healthcare costs amplify."

In summary, health insurers line their pockets as individuals lose access to coverage, driving up the cost of healthcare and premiums for the insured.

*Website utilized to estimate quantity of health insurer members of AHIP only

“2007 Aetna Annual Report, Financial Report to Shareholders.” Aetna. 12 Apr. 2009
America's Health Insurance Plans. 12 Apr. 2009
“Blue Cross Blue Shield of Michigan and Subsidiaries: Consolidated Financial Statements as of
and for the Years Ended December 31, 2007 and 2006, and Independent Auditors’
Report.” Blue Cross Blue Shield of Michigan. 12 Apr. 2009