Health Insurers Wipe Themselves With Money!
Matt | On 14, Feb 2010
Now this is some sh*t!! A new report out by Health Care for America Now shows that the top five for-profit health insurers posted combined PROFITS of over $12.2 BILLION last year. According to my math, that’s over $33 MILLION in profit every single day, among those five insurers, for the past year. At the same time, they dropped 2.7 MILLION Americans from their coverage rolls.
The “MoneyBag Five” include Cigna, Wellpoint, Aetna, UnitedHealth Group, and Humana. While they were busy posting profits (i.e., revenue minus expenses), nearly three million Americans were denied coverage! It just doesn’t make sense. I’m all for a company making money, but weighing people’s lives against a balance sheet is straight insanity.
The insurance industry trade group that reps the insurers, America’s Health Insurance Plans, wants you to believe that you’re hallucinating. They say that for every dollar spent on health care, less than a penny goes toward profit. They put the blame on expensive doctors, hospitals, etc., not these crazy bills you and your employer receive in the mail. That’s a damn lie.
I will admit that costs all across the industry need to be lowered, but that is only part of the problem. Insurance premiums are at an all time high!! People are filing bankruptcy every single day because they can’t sell their material possessions – including their body, kids, and hair – fast enough to pay their healthcare pimps. Then when you do have coverage, they nitpick every service you use – (i.e., “We cover these two procedures, but don’t cover those three…”). There is never any rhyme or reason WHY premiums go up either. As a self-employed person, I’ve almost been put in the hospital .. just from opening the monthly statement!
Meanwhile, as the insurers take a crap on consumers, they use our money to clean it all up!! It sounds really familiar to another hustle I know called the OIL INDUSTRY. It all comes from the same B-S playbook. They posted record profits, but gas was nearly $5.00/gallon in 2008?! I guess they thought we were putting that high ass gas in our sippee cups instead of the tank?!
The health insurance industry knows they are out of order. That’s why they fought so hard against the public option. Hell, I don’t know any criminal that would give up that kind of hustle without some kinda fight. ::smh::