Lois Capps: “The news that private health insurance companies earned a record $12.2 billion in profits last year is a stark reminder…”

“The news that private health insurance companies earned a record $12.2 billion in profits last year is a stark reminder of the need for enacting health reform now. Their profits are up 56 percent from the previous year, yet more and more Americans can't afford health insurance and are being dropped when they get sick. As we have seen with Anthem Blue Cross in California, insurance companies are raising their premiums on individuals by as much as 40 percent. This is ridiculous. Fortunately, we have a plan to address this huge problem. Our colleagues on the other side of the aisle may think the status quo is fine. I certainly don't. We must enact health reform legislation, holding insurance companies accountable, ensuring that patients have access to affordable care, improving the quality of health care for everyone. I welcome the release of the President's proposal to achieve these important goals. I look forward to the outcome of Thursday's summit. As these outrageous premium increases show, we have an urgent need to move forward on health care reform.”