Thursday, April 25, 2002 | 9:17 a.m.
There is another insurance issue that I believe needs to be brought to the attention of the public and our government officials, namely medical insurance.
There has been a lot of publicity concerning malpractice insurance and the utility rate increases, but somehow the Nevada State Insurance Commission continues to grant the premium increases for medical insurance and no one informs the policyholders of when the hearings are held. When the policyholders are not made aware, we can't voice our objections. Consequently the premium increases are granted.
I am a 63-year-old female and have medical insurance with Sierra H & L. In June 2000 my monthly premiums were $203; in 2001 they were increased to $376. I have just been informed by certified mail that my monthly premiums are being increased again, to $445, plus I have a $1,500 deductible, co-pays are $20 and prescriptions are 30/15. That is a 108 percent increase in just two years. How in the world can a for-profit company, whose stock increased from 4.50 per share to 15.45 in one year, justify increasing premiums to this extent. I believe that the Nevada State Insurance Commission should be investigated to find out why they keep granting this obvious greed.
With these kind of increases it's no wonder that there are so many people, young and old, without coverage. My premiums will be taking all but $80 of my Social Security benefits. My husband and I worked, saved and invested to prepare ourselves for retirement, but with the economy the way it has been, we, along with many others, are running backwards. If our state officials allow this to continue, there are going to be more and more people on the welfare rolls.
DOROTHY M. SOBCZAK
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