Thursday, August 6, 2009
Editor's Note: The RoundUp has arrived at one of those philosophical quandaries we all come to periodically: Why is it, again, that our country's health care system is profit-based and not people-based? Lots of citizens are falling thru the cracks, can't afford it anymore, or just outright being denied coverage. All the while the private for-profit monopoly providers are getting bankrolled to the hilt. Best answer gets a free bottle of aspirin, those little pink St. Joseph tablets that are good for the heart and blood pressure.
The top five earning (health) insurance companies averaged profits of $1.56 billion in 2008 and reported spending an average of "more than 18 percent of their revenues on marketing, administration, and profits." That year, CEO compensation for these companies ranged from $3 million to $24 million. [snip] Despite lower than expected profits, insurers are not holding back. The industry already set records from January to March, “when health-care firms and their lobbyists spent money at the rate of $1.4 million a day” on campaigns designed to influence the health care reform legislation now moving through Congress.
Read more here
Sources: Families USA and others
Posted by RoundUp Editor at 1:34 PM