Why target Health Insurance companies who only make 2.2% profit margin?
Communications make 20% profit
Railroads make 12%
Tupperware out performed the best health insurer for profit margin
So where are the evil insurance companies stacking up bodies to make billions of dollars?
Nancy Pelosi
""I’m very pleased that Democratic leaders will be talking, too, about the immoral profits being made by the insurance industry and how those profits have increased in the Bush years."
Maryland Rep. Chris Van Hollen
Keeping the status quo may be what the insurance industry wants their premiums have more than doubled in the last decade and their profits have skyrocketed."
2.2% real numbers
vs the lies of the democrats
Which one will you believe?
Sorry
http://www.aol.in/news-story/fact-check-health-insurer-profits-not-so-fat/638358
http://www.baynews9.com/content/9/2009/10/25/537797.html?title=FACT+CHECK:+Health+insurer+profits+not+so+fat++++
Washington AP?
Is that rush or beck?
Nope
Sorry
Liberals hate free enterprise and capitalism. For them profit is a dirty word.
I wonder if any of them would be happy with a savings account that paid no interest?
23 Responses to “Why target Health Insurance companies who only make 2.2% profit margin?”
Why don’t you have source?
Comment made on November 23rd, 2009 at 5:18 amReferences :
Because, like oil companies, they are EVIL.
Comment made on November 23rd, 2009 at 5:55 amEVIL because they stand for something the left want to tear down and control.
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2.2% profit?!?!? Who have you been duped by? Fox? Rush?
LMAO
The real numbers are between 20-30% depending on the company.
Comment made on November 23rd, 2009 at 6:43 amReferences :
Why not?
Because they are against Obama’s notion of what health insurance should look like. They are free market. Obama, et. al. can’t control them
Comment made on November 23rd, 2009 at 7:04 amReferences :
margin. Not profit.
Think about that, and how the board of directors pay, bonuses,marketing, paying off politicians, and everything else counts into "operating expenses" and is deducted.
Comment made on November 23rd, 2009 at 7:48 amReferences :
Insurance companies would never be able to survive on 2.2%. They have stockholders who expect more from them and that’s why private insurance doesn’t serve the public interest because it’s all about profit.
20-30% is the realistic profit level of private insurance companies.
Meaning 20-30% not reach actual sick people who need it.
Comment made on November 23rd, 2009 at 8:29 amReferences :
that number is a lie
the health insurance industry is the only industry where the company doesn;t have to uphold its end of the deal
you could pay your whole life and then you have a heart attack and your insurance would be dropped like that isn;t that call stealing?
Comment made on November 23rd, 2009 at 8:48 amReferences :
1) Where is you link?
2) Is that before or after they pay off the lobbyists and take their obscene bonuses?
I’m sure they have no problem cooking the books to screw the investors too.
Comment made on November 23rd, 2009 at 9:02 amReferences :
Because making any profit on human misery is immoral. It’s time to end it now and go to government only system.
Comment made on November 23rd, 2009 at 9:50 amReferences :
Some companies choose to show profits, others don’t for various reasons.
Comment made on November 23rd, 2009 at 10:12 amReferences :
Link from the AP: http://www.google.com/hostednews/ap/article/ALeqM5iorq8FSpX_4LX_UG_xHQIjJY3SvgD9BI5VB00
Comment made on November 23rd, 2009 at 10:58 amReferences :
Because they only make a profit by cutting off medical treatment and thus condemning human beings to die in pain and suffering.
Comment made on November 23rd, 2009 at 11:06 amReferences :
I won’t believe you without a verifiable link.
AND, it’s still confounding how insurance companies – or any American company for that matter – can still earn a 2.2% profit after paying multimillions and billions annually to their thieving rich class executives. In fact – many don’t pull a profit after these inflated salaries and bonuses, and then come begging from working class tax coffers (see Bush Administration Fall 2008).
Or can’t you figure out how profits, retained earnings (belonging to workers), and company reinvestments are reduced by thieving execs and shareholders in this fashion?
Comment made on November 23rd, 2009 at 11:53 amReferences :
It’s easier to demonize when ignorance is so rampant in our society. The truth of health insurance company’s profits is irrelevant when there are partisans trying to destroy them. Health insurance companies make between 2-4 cents profit on every dollar in revenue. The sources are financial statements submitted to the government. Those in disbelief or denial are actually admitting their ignorance of this matter.
Sorry Capt Cold is one of those so ignorant of facts, he makes himself look so foolish. Is this your adherence to DailyKos thinking-points? Must be, to be so utterly wrong.
20-30% profit margins are just ridiculous, and not supported by facts. People alleging these margins are just dumb about business.
Comment made on November 23rd, 2009 at 12:07 pmReferences :
Okay-I have read that same article, and-exactly what are the "lies" of the democrats? What specifically did they say? What percentage did they say the health ins companies made in profits. If they specifically said like "they make 50%", then please provide a link as well. thank you.
EDIT:
"Profit" comes after all of the executives get their multi-million dollar salaries and bonuses for denying people health care services, BTW.
ANNUAL COMPENSATION OF HEALTH INSURANCE COMPANY EXECUTIVES (2006 and 2007 figures):
• Ronald A. Williams, Chair/ CEO, Aetna Inc., $23,045,834
• H. Edward Hanway, Chair/ CEO, Cigna Corp, $30.16 million
• David B. Snow, Jr, Chair/ CEO, Medco Health, $21.76 million
• Michael B. MCallister, CEO, Humana Inc, $20.06 million
• Stephen J. Hemsley, CEO, UnitedHealth Group, $13,164,529
• Angela F. Braly, President/ CEO, Wellpoint, $9,094,771
• Dale B. Wolf, CEO, Coventry Health Care, $20.86 million
• Jay M. Gellert, President/ CEO, Health Net, $16.65 million
• William C. Van Faasen, Chairman, Blue Cross Blue Shield of Massachusetts, $3 million plus $16.4 million in retirement benefits
• Charlie Baker, President/ CEO, Harvard Pilgrim Health Care, $1.5 million
• James Roosevelt, Jr., CEO, Tufts Associated Health Plans, $1.3 million
• Cleve L. Killingsworth, President/CEO Blue Cross Blue Shield of Massachusetts, $3.6 million
• Raymond McCaskey, CEO, Health Care Service Corp (Blue Cross Blue Shield), $10.3 million
• Daniel P. McCartney, CEO, Healthcare Services Group, Inc, $ 1,061,513
• Daniel Loepp, CEO, Blue Cross Blue Shield of Michigan, $1,657,555
• Todd S. Farha, CEO, WellCare Health Plans, $5,270,825
• Michael F. Neidorff, CEO, Centene Corp, $8,750,751
• Daniel Loepp, CEO, Blue Cross Blue Shield of Michigan, $1,657,555
• Todd S. Farha, CEO, WellCare Health Plans, $5,270,825
• Michael F. Neidorff, CEO, Centene Corp, $8,750,751
Comment made on November 23rd, 2009 at 12:35 pmReferences :
They have a preexisting condition.
Comment made on November 23rd, 2009 at 1:21 pmReferences :
I can’t believe you would even ask such a question…..Like her or not , that little snippet from Nancy Pelosi is correct………And the last thing the rich controlling insurance companies want is to remove the status qou………Did the CEO of Tupperware make the same as Well Point CEO—-Angela Braly—- $24 million last year ??? Doctors are trained and swore an oath to provide care and insurance exec. deny the claims……..It’s ok for the crook to have a beach house , but if you need chemo then have a bake sale ?????
Comment made on November 23rd, 2009 at 1:51 pmReferences :
Just posting the AP article reporting that number.
Some of the profits listed in it:
Tupperware Brands, 7.5 percent; Yahoo, 5.9 percent; Hershey, 6.1 percent; Clorox, 8.7 percent; Molson Coors Brewing, 8.1 percent; construction and farm machinery, 5 percent; Yum Brands (think KFC, Pizza Hut, Taco Bell), 8.5 percent.
Oil companies were at an 8.5% average last year and time period that data came from Google was 25%. Talk about profit.
Add in to the mix denial of claims now. The government has the highest percentage.
UHC 2.7%
Coventry 2.9%
Humana 2.9%
CIGNA 3.4%
Health Net 3.4%
Anthem BCBS 4.6%
Aetna 6.8%
Medicare 6.85%
Aetna is the only one that comes close to the government. When you average all of the private insurers their rate of denial is 3.89% including the high Aetna number. 4% is much better than Medicare’s nearly 7%. The government is not quite as benevolent as they lead you to believe when you read the actual numbers.
Since private companies are required to turn a profit they will likely be better watchdogs of fraud, waste and abuse. Something the government is infamous for.
References :
http://www.google.com/hostednews/ap/article/ALeqM5iorq8FSpX_4LX_UG_xHQIjJY3SvgD9BI5VB00
http://money.cnn.com/2008/04/29/markets/thebuzz/
2009 AMA National Health Insurer Report Card.
Comment made on November 23rd, 2009 at 2:08 pmhttp://www.ama-assn.org/ama1/pub/upload/mm/368/2009-nhirc-long.pdf
Liberals hate free enterprise and capitalism. For them profit is a dirty word.
I wonder if any of them would be happy with a savings account that paid no interest?
Comment made on November 23rd, 2009 at 2:53 pmReferences :
even if we assume that you have a credible source to support your claim that insurance companies operate with a 2.2% profit margin, the problem is that those profits have risen astronomically within the past decade. The profit margin is not the issue at all – the dollar amount of that profit margin is th problem. By relentlessly raising the cost of health insurance, and systematically paying out less and less to policy-holders, the insurance companies bring in a substantially larger amount of money with which to operate. Of that consistently-growing pool of money, 2.2% means a WHOLE LOT MORE in real dollars today than it did last year or the year before or the year before.
if you really want to see the bottom-line profits of a health insurance company, don’t look at it’s profit margin… look at it’s profit.
Comment made on November 23rd, 2009 at 3:20 pmReferences :
"immoral profits" LOL doesn’t Pelosi own some tuna company in Samoa or something? making profit on food?
Comment made on November 23rd, 2009 at 3:43 pmReferences :
You do know that leftist try to control all insurances especially health insurance for the hudge ammounts and to hold poeple by fear of sickness.
In anycase they will charge more the smallest one who don’t follow their rules
Care too MUTUELS they are their Trojan horse.
Comment made on November 23rd, 2009 at 4:05 pmI have been fighting them 5 years here at a social security health insurance cash.Same brend same way to work…..
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This is another in a long series of intelligence tests. How many claims does the Left have to make that are untrue before their supporters realize they are being duped?
The government should never target any company. The reality is, the current administration is specifically not interested in having the economy improve nor providing quality health care nor protecting investors. They are doing everything possible to get as many citizens in the Untied States dependent on the government. Why? See link below. This has been going on since the 1960’s.
*
Comment made on November 23rd, 2009 at 4:33 pmReferences :
http://cloward-piven.com/
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