Health insurers’ earnings plunge for 2nd quarter

Deirdre Cummings, legislative director for the nonprofit Massachusetts Public Interest Research Group, said that while premium increases have been moderating, businesses and individuals still haven’t felt sufficient relief after enduring a decade of soaring premiums.

“We all talk about wanting to bring down the cost of health care,” Cummings said. “What that means is that all the industries that are supported by health care are going to make less money. If we want to control health care costs, we have to control it from somewhere. The insurance companies will do just fine. Their profits just won’t be as obscene as in the past.”