Health Insurance Profits Soar

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by Political Junky, Nov 11, 2010.

  1. Political Junky
    Online

    Political Junky Gold Member

    Joined:
    May 27, 2009
    Messages:
    20,796
    Thanks Received:
    3,117
    Trophy Points:
    280
    Ratings:
    +6,364
    Health Insurance Profits Soar, Dem Calls For Rebates

    WASHINGTON -- Health insurance profits are skyrocketing in 2010 compared to last year's returns and the outgoing chairman of the House subcommittee that oversees the companies is calling on them to return the profits to consumers in the form of premium reductions.

    "Your ten firms alone have reported over $9.3 billion in profits for the first three quarters of 2010," writes Rep. Pete Stark (D-Calif.), chairman of the Ways and Means health subcommittee -- and, for a day, chairman of the full committee. "On average, your profits have gone up 41 percent from last year."
    <more>
     
  2. Revere
    Offline

    Revere BANNED

    Joined:
    Jan 23, 2010
    Messages:
    7,427
    Thanks Received:
    415
    Trophy Points:
    0
    Location:
    Watching you in my profile page
    Ratings:
    +415
    They are still 3-4% of revenues. Is that "excessive?"
     
  3. Trajan
    Offline

    Trajan conscientia mille testes

    Joined:
    Jun 17, 2010
    Messages:
    29,048
    Thanks Received:
    4,752
    Trophy Points:
    48
    Location:
    The Bay Area Soviet
    Ratings:
    +4,758
    it is when you are statist and the productive bourgeoisie need to be beat down.
     
  4. Soggy in NOLA
    Offline

    Soggy in NOLA Platinum Member

    Joined:
    Jul 31, 2009
    Messages:
    34,669
    Thanks Received:
    4,565
    Trophy Points:
    1,130
    Ratings:
    +13,582
    To our Marxist comrades, yes.
     
  5. Care4all
    Offline

    Care4all Warrior Princess Supporting Member

    Joined:
    Mar 24, 2007
    Messages:
    34,967
    Thanks Received:
    7,216
    Trophy Points:
    1,170
    Location:
    Maine
    Ratings:
    +12,872
    Hi Revere,

    Got a recent link that supports they are STILL at only 3-4%with their 40% increase in profit?

    (fyi=Walmart runs around 3.5% in profit)

    the corporations I've worked for strives for 4%....
     
  6. boedicca
    Offline

    boedicca Uppity Water Nymph Supporting Member

    Joined:
    Feb 12, 2007
    Messages:
    43,370
    Thanks Received:
    13,198
    Trophy Points:
    2,250
    Location:
    The Land of Funk
    Ratings:
    +25,300
    Pete Stark is one of the most Rabid Moonbats in Congress.

    Let's look at Aetna. Last quarter, it had net profit of 5.8%. It reduced its operating expenses by $240M from the Q4-09 level - hence much of the increase in profits was due to operational savings. That's what companies do in poor economies - cut costs. It's revenue has actually decreased - contrary to the Moonbat Spin that the insurance industry is drastically gouging consumers with huge fee increases. Its net profit was $497M after paying $270M in income taxes.

    Stark can complain all he wants about Insurance Company profitability - but the government itself takes a bit chunk of it (35%).

    AET Income Statement | Aetna Inc. Common Stock Stock - Yahoo! Finance
     
    Last edited: Nov 11, 2010
  7. Care4all
    Offline

    Care4all Warrior Princess Supporting Member

    Joined:
    Mar 24, 2007
    Messages:
    34,967
    Thanks Received:
    7,216
    Trophy Points:
    1,170
    Location:
    Maine
    Ratings:
    +12,872
    I would give my big toe, to be getting 3-4% interest on the money we have in CD's or in our Savings accounts.:(
     
  8. Care4all
    Offline

    Care4all Warrior Princess Supporting Member

    Joined:
    Mar 24, 2007
    Messages:
    34,967
    Thanks Received:
    7,216
    Trophy Points:
    1,170
    Location:
    Maine
    Ratings:
    +12,872
    that 35% is deceiving Boe....that is 35% of their profit, after all bills and bonuses and perks and bennies to employees and cost of goods and overhead etc is paid....this is not 35% of their Revenues.... or 35% of their income, as it would be for an individual.
     
  9. iamwhatiseem
    Offline

    iamwhatiseem Gold Member

    Joined:
    Aug 19, 2010
    Messages:
    15,242
    Thanks Received:
    3,215
    Trophy Points:
    280
    Location:
    Not There
    Ratings:
    +6,646
    It is just a story to put out there for the MSM to lap it up and pass it on much in the same fashion as the OP.
    When you say "Profits has SOARED 40%!!"...that sounds like fightin' words to anti-capitalist liberals.
    But afterall...if a company with $400,000,000 in revenue made $1.00 in profit last year...and then made $1.40 the next year.
    You could technically say the above.
     
  10. WillowTree
    Offline

    WillowTree Diamond Member

    Joined:
    Sep 15, 2008
    Messages:
    69,559
    Thanks Received:
    10,480
    Trophy Points:
    2,030
    Ratings:
    +16,501
    Funny. They don't make the oil companies return revenue when they profit billions. oh wait Mrs. Palin did.
     

Share This Page