Health Insurance Profits Soar

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

  1. Political Junky
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    Political Junky Gold Member

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    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."
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  2. Revere
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    Revere BANNED

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    They are still 3-4% of revenues. Is that "excessive?"
     
  3. Trajan
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    Trajan conscientia mille testes

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    it is when you are statist and the productive bourgeoisie need to be beat down.
     
  4. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    To our Marxist comrades, yes.
     
  5. Care4all
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    Care4all Warrior Princess Supporting Member

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    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
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    boedicca Uppity Water Nymph Supporting Member

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    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
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    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
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    Care4all Warrior Princess Supporting Member

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    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
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    iamwhatiseem Gold Member

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    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
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    WillowTree Diamond Member

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    Funny. They don't make the oil companies return revenue when they profit billions. oh wait Mrs. Palin did.
     

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