FACT CHECK: Health insurer profits not so fat

[Yurt]

FACT CHECK: Health insurer profits not so fat

In the health care debate, Democrats and their allies have gone after insurance companies as rapacious profiteers making "immoral" and "obscene" returns while "the bodies pile up."

Ledgers tell a different reality. Health insurance profit margins typically run about 6 percent, give or take a point or two. That's anemic compared with other forms of insurance and a broad array of industries, even some beleaguered ones.

FACT CHECK: Health insurer profits not so fat - Yahoo! News

 

[Conservanoid]

I know really. Insurance companies need to make more money.

 

[PoliticalChic]

I know really. Insurance companies need to make more money.

"Also, it’s worth noting that while these figures sound like a lot of money — and few would dispute the fact that health insurance company CEOs make healthy salaries — these numbers represent a very small fraction of total health care spending in the U.S. In 2007, national health care expenditures totaled $2.2 trillion. Health insurance profits of nearly $13 billion make up 0.6 percent of that. CEO compensation is a mere 0.005 percent of total spending."

Pushing for a Public Plan | FactCheck.org

So, "I know really." is incorrect.

It seems you really don't know.

 

[The Rabbi]

Frankly what difference does it make if they make 6% margins or 60% margins?? If it is a competitive business and they run it for the benefit of shareholders, who cares? Why should it matter?
It is simply class envy and warfare, spurred by the Dems. In any sane society you would want businesses to do well and make money.

 

[MajikMyst]

The CEO of United Healthcare makes $102,000 dollars an HOUR!!! One hundred thousand dollars an HOUR!! That is obscene and that fact alone trashes this thread!! Keep in mind that profits are after everyone is paid.. I don't give a flying set of monkey nuts what their margin is.. $102,000 dollars an hour is insane!!

They also get 50% of premiums from every policy of flood insurance sold.. And they don't do flood insurance the government does.. They just sell it.. That is some 40 billion or so anually for doing next to nothing and having no exposure of their own..

Poor poor insurance companies!! They are are poverty stricken and barely make a profit.. MY ASS!! The facts say otherwise if you morons care to look at them and not some right wing spin site that was bought and paid by the insurance companies..

They make 30% on the dollar which is almost as much as a casino at 33% on the dollar..

Fact hurt don't it!!

 

[PoliticalChic]

The CEO of United Healthcare makes $102,000 dollars an HOUR!!! One hundred thousand dollars an HOUR!! That is obscene and that fact alone trashes this thread!! Keep in mind that profits are after everyone is paid.. I don't give a flying set of monkey nuts what their margin is.. $102,000 dollars an hour is insane!!

They also get 50% of premiums from every policy of flood insurance sold.. And they don't do flood insurance the government does.. They just sell it.. That is some 40 billion or so anually for doing next to nothing and having no exposure of their own..

Poor poor insurance companies!! They are are poverty stricken and barely make a profit.. MY ASS!! The facts say otherwise if you morons care to look at them and not some right wing spin site that was bought and paid by the insurance companies..

They make 30% on the dollar which is almost as much as a casino at 33% on the dollar..

Fact hurt don't it!!

Possibly you didn't conprehend the fact check re: industry profits and CEO pay.

Have a literate friend explain it to you.

Then, consider this as an mitigation for you your whining, envious sensibilities: choose a healthcare provider whose CEO makes what you consider a more reasonable salary.

And here's a hint: in the future, study harder in school.

 

[The Rabbi]

This class envy business is really sad. Who cares what anyone else makes, except for politicians, who work for us?

 

[Mr. H.]

These folks don't punch a time clock. It ain't Wal Mart.

 

[veritas]

Class envy? You can jump off of that. Money has nothing to do with class.

 

[MajikMyst]

The CEO of United Healthcare makes $102,000 dollars an HOUR!!! One hundred thousand dollars an HOUR!! That is obscene and that fact alone trashes this thread!! Keep in mind that profits are after everyone is paid.. I don't give a flying set of monkey nuts what their margin is.. $102,000 dollars an hour is insane!!

They also get 50% of premiums from every policy of flood insurance sold.. And they don't do flood insurance the government does.. They just sell it.. That is some 40 billion or so anually for doing next to nothing and having no exposure of their own..

Poor poor insurance companies!! They are are poverty stricken and barely make a profit.. MY ASS!! The facts say otherwise if you morons care to look at them and not some right wing spin site that was bought and paid by the insurance companies..

They make 30% on the dollar which is almost as much as a casino at 33% on the dollar..

Fact hurt don't it!!

Possibly you didn't conprehend the fact check re: industry profits and CEO pay.

Have a literate friend explain it to you.

Then, consider this as an mitigation for you your whining, envious sensibilities: choose a healthcare provider whose CEO makes what you consider a more reasonable salary.

And here's a hint: in the future, study harder in school.

I'm sorry?? The IRS says one thing and your fact check says something else where again?? How bout you study harder and learn to read!! Starting with tax forms you moron!!

Then how bout you explain the 20 billion in government subsidies that insurance gets??

Your article is a joke!!

 

[KittenKoder]

Our politicians make more than health insurance CEO's.

 

[MajikMyst]

Ok.. To take this topic else where?? Why the fuck do you care about insurance profits?? You can't deny that people have died due to lack of coverage or coverage being denied.. If they made a single penny off of killinhg someone then that is to much!!

Are you really an immoral asshole that you are going to defend the insurance companies and say they aren't profitable enough??

If a single person dies because they wrongfully canceled a policy or denied someone insurance because of some pre-existing condition like Acne.. Then a single cent in profit is way to much!!

How can you call yourself moral and argue with that?? You want them to make trillions at the cost of lives?? Look at the guy in New York that was just cancelled by Guardian Insurance.. If he dies, then the again the insurance would have made money because someone died..

Where do you neotards stand here?? Do you really want to argue that the insurance companies make no profit?? Even though that is completely absurd!! 40 billion a year for doing nothing but selling flood insurance policies covered by YOU the tax payer.. 20 billion in subsidies for nothing.. Deny any of it and you are a fool!! As is your right tard website that uses Kiaser as a source!! Kiaser is in the business of health Insurance you moron!! Factcheck talk to an insurance group and called it facts?? ROFL! How brainless can you be.. Well if you are a right tard website that caters to the views of the neotards.. Guess that answers the brainless question..

 

[MajikMyst]

Our politicians make more than health insurance CEO's.

Now this is truly funny!! The highest paid politician is the President.. He makes 400,000 a year.. That is his salary..

The CEO of United Healthcare makes 102,000 dollars an hour.. So he makes twice as much in a day than what the president does in a year..

United Health CEO earned $124.8 million in 2005
February 14, 2006 in Current Events, Health Insurance

Forbes magazine reports that William W. McGuire, CEO of UnitedHealth Group) received compensation of $124.8 million in 2005. Managed Care Magazine also says that the average executive compensation (excluding unexercised stock options) for an executive of a ‘top 10 for profit health plan’ was $11.7 million and that was back in 2000.

http://www.forbes.com/static/pvp2005/LIRRI3M.html

Do the math you morons!!

 

[KittenKoder]

Our politicians make more than health insurance CEO's.

Now this is truly funny!! The highest paid politician is the President.. He makes 400,000 a year.. That is his salary..

The CEO of United Healthcare makes 102,000 dollars an hour.. So he makes twice as much in a day than what the president does in a year..

United Health CEO earned $124.8 million in 2005
February 14, 2006 in Current Events, Health Insurance

Forbes magazine reports that William W. McGuire, CEO of UnitedHealth Group) received compensation of $124.8 million in 2005. Managed Care Magazine also says that the average executive compensation (excluding unexercised stock options) for an executive of a ‘top 10 for profit health plan’ was $11.7 million and that was back in 2000.

Do the math you morons!!

Do you know how many actual hours a CEO works?

 

[KittenKoder]

Ok.. To take this topic else where?? Why the fuck do you care about insurance profits?? You can't deny that people have died due to lack of coverage or coverage being denied.. If they made a single penny off of killinhg someone then that is to much!!

Are you really an immoral asshole that you are going to defend the insurance companies and say they aren't profitable enough??

If a single person dies because they wrongfully canceled a policy or denied someone insurance because of some pre-existing condition like Acne.. Then a single cent in profit is way to much!!

How can you call yourself moral and argue with that?? You want them to make trillions at the cost of lives?? Look at the guy in New York that was just cancelled by Guardian Insurance.. If he dies, then the again the insurance would have made money because someone died..

Where do you neotards stand here?? Do you really want to argue that the insurance companies make no profit?? Even though that is completely absurd!! 40 billion a year for doing nothing but selling flood insurance policies covered by YOU the tax payer.. 20 billion in subsidies for nothing.. Deny any of it and you are a fool!! As is your right tard website that uses Kiaser as a source!! Kiaser is in the business of health Insurance you moron!! Factcheck talk to an insurance group and called it facts?? ROFL! How brainless can you be.. Well if you are a right tard website that caters to the views of the neotards.. Guess that answers the brainless question..

That is wrong, people can get covered ... it's called Medicaid, they don't die from not being covered, they die from a lack of initiative on their part. Crying victim for someone too lazy to fill out the paperwork is lame.

 

[MajikMyst]

Our politicians make more than health insurance CEO's.

Now this is truly funny!! The highest paid politician is the President.. He makes 400,000 a year.. That is his salary..

The CEO of United Healthcare makes 102,000 dollars an hour.. So he makes twice as much in a day than what the president does in a year..

United Health CEO earned $124.8 million in 2005
February 14, 2006 in Current Events, Health Insurance

Forbes magazine reports that William W. McGuire, CEO of UnitedHealth Group) received compensation of $124.8 million in 2005. Managed Care Magazine also says that the average executive compensation (excluding unexercised stock options) for an executive of a ‘top 10 for profit health plan’ was $11.7 million and that was back in 2000.
Do the math you morons!!

Do you know how many actual hours a CEO works?

LOL!!! Do you really mean how many hours they are on the golf course?? Or on the yaught in some vacation resort?? Or at their Villa in Italy or some other Europian nation?? I don't really care how many hours he works because I would bet that he doesn't work as many hours as your local gas station attendent.. Or better yet, I guarantee you that he doesn't work the number of hours a Nurse does at your local ER.

Get a clue there dude!! Do you know how many hours he works?? I mean, keep in mind that at his salary, he has someone to do everything for him.. Including wipe his ass if he wanted.. He most likely worked less than Bush did his first year in office.. To put that in perspective.. Bush was in vacation for over a 3rd of his term before 9/11.. When he left office, he spent an entire year on vacation out of an 8 year term.. He worked less than congress.. And still I bet this moron works even less.. I think thbe last time this asshole did a 40 hour week was 20 years ago..

 

[KittenKoder]

Now this is truly funny!! The highest paid politician is the President.. He makes 400,000 a year.. That is his salary..

The CEO of United Healthcare makes 102,000 dollars an hour.. So he makes twice as much in a day than what the president does in a year..

United Health CEO earned $124.8 million in 2005
February 14, 2006 in Current Events, Health Insurance

Forbes magazine reports that William W. McGuire, CEO of UnitedHealth Group) received compensation of $124.8 million in 2005. Managed Care Magazine also says that the average executive compensation (excluding unexercised stock options) for an executive of a ‘top 10 for profit health plan’ was $11.7 million and that was back in 2000.
Do the math you morons!!

Do you know how many actual hours a CEO works?

LOL!!! Do you really mean how many hours they are on the golf course?? Or on the yaught in some vacation resort?? Or at their Villa in Italy or some other Europian nation?? I don't really care how many hours he works because I would bet that he doesn't work as many hours as your local gas station attendent.. Or better yet, I guarantee you that he doesn't work the number of hours a Nurse does at your local ER.

Get a clue there dude!! Do you know how many hours he works?? I mean, keep in mind that at his salary, he has someone to do everything for him.. Including wipe his ass if he wanted.. He most likely worked less than Bush did his first year in office.. To put that in perspective.. Bush was in vacation for over a 3rd of his term before 9/11.. When he left office, he spent an entire year on vacation out of an 8 year term.. He worked less than congress.. And still I bet this moron works even less.. I think thbe last time this asshole did a 40 hour week was 20 years ago..

Dude? Observant you are not.

But now you are on the right track ... sort of. Hourly pay is based on how much time is spent "at the office" ... which they spend little time there because ... well ... they are not needed most times.

 

[MajikMyst]

Do you know how many actual hours a CEO works?

LOL!!! Do you really mean how many hours they are on the golf course?? Or on the yaught in some vacation resort?? Or at their Villa in Italy or some other Europian nation?? I don't really care how many hours he works because I would bet that he doesn't work as many hours as your local gas station attendent.. Or better yet, I guarantee you that he doesn't work the number of hours a Nurse does at your local ER.

Get a clue there dude!! Do you know how many hours he works?? I mean, keep in mind that at his salary, he has someone to do everything for him.. Including wipe his ass if he wanted.. He most likely worked less than Bush did his first year in office.. To put that in perspective.. Bush was in vacation for over a 3rd of his term before 9/11.. When he left office, he spent an entire year on vacation out of an 8 year term.. He worked less than congress.. And still I bet this moron works even less.. I think thbe last time this asshole did a 40 hour week was 20 years ago..

Dude? Observant you are not.

But now you are on the right track ... sort of. Hourly pay is based on how much time is spent "at the office" ... which they spend little time there because ... well ... they are not needed most times.

So your point is that he makes 124 million a year for nothing?? Because he is not needed most times to use your words.. You are making my arguement for me..

 

[KittenKoder]

LOL!!! Do you really mean how many hours they are on the golf course?? Or on the yaught in some vacation resort?? Or at their Villa in Italy or some other Europian nation?? I don't really care how many hours he works because I would bet that he doesn't work as many hours as your local gas station attendent.. Or better yet, I guarantee you that he doesn't work the number of hours a Nurse does at your local ER.

Get a clue there dude!! Do you know how many hours he works?? I mean, keep in mind that at his salary, he has someone to do everything for him.. Including wipe his ass if he wanted.. He most likely worked less than Bush did his first year in office.. To put that in perspective.. Bush was in vacation for over a 3rd of his term before 9/11.. When he left office, he spent an entire year on vacation out of an 8 year term.. He worked less than congress.. And still I bet this moron works even less.. I think thbe last time this asshole did a 40 hour week was 20 years ago..

Dude? Observant you are not.

But now you are on the right track ... sort of. Hourly pay is based on how much time is spent "at the office" ... which they spend little time there because ... well ... they are not needed most times.

So your point is that he makes 124 million a year for nothing?? Because he is not needed most times to use your words.. You are making my arguement for me..

No, I am not making your argument at all. Actually the whole point here is that they are only getting a 6% profit from services they render, meaning that most of what is paid to the insurance companies (94%) goes to taking care of their clients, not into the pockets of the company.

 

[MajikMyst]

Dude? Observant you are not.

But now you are on the right track ... sort of. Hourly pay is based on how much time is spent "at the office" ... which they spend little time there because ... well ... they are not needed most times.

So your point is that he makes 124 million a year for nothing?? Because he is not needed most times to use your words.. You are making my arguement for me..

No, I am not making your argument at all. Actually the whole point here is that they are only getting a 6% profit from services they render, meaning that most of what is paid to the insurance companies (94%) goes to taking care of their clients, not into the pockets of the company.

But see your arguement is flawed.. You really don't know how much they take in and you don't know how much they pay out.. Nobody really accurately knows that because the insurance companies aren't required to tell anyone.. They claim they make a lot less to the IRS so they don't pay their share in Taxes.. That has been proven.. The SEC just orded McGuire to pay 400+ million back due to some type of fraud..

William W. McGuire, M.D.: Lit. Rel. No. 20387 / December 5, 2007

The bottom line here is this.. Fact check or not, nobody has a clue what their profits are.. But a good indicator is how much they pay their CEO.. He gets paid a ton of cash!! Below is a break down..

William W McGuire, CEO of UnitedHealth Group (UNH), Earns $124.8 mil

There is simply no way that a company that is only at a 6% profit, which they are not, it going to pay their CEO that much.. Because here is what you are forgetting.. HE is the CEO.. How much are the top 100 people in United healthcare getting?? How much are their bonuses or stock options? You see his $124 million a year is just the tip of the iceberg..

But as a last closing note, why do you care about their profits anyways?? They make a profit by denying people medical care.. They make a profit off of people dying.. If they make a single penny off of someone dying then that is to many.. 44 thousand people die each year due to being denied insurance or having their coverage terminated for some bullshit reason.. And you are worried about their profits??