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WASHINGTON (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi on Thursday ramped up her criticism of insurance companies, accusing them of unethical behavior and working to kill a plan to create a new government-run health plan.
"It's almost immoral what they are doing," Pelosi said to reporters, referring to insurance companies. "Of course they've been immoral all along in how they have treated the people that they insure," she said, adding, "They are the villains. They have been part of the problem in a major way. They are doing everything in their power to stop a public option from happening."
"It's almost immoral what they are doing," Pelosi said to reporters, referring to insurance companies. "Of course they've been immoral all along in how they have treated the people that they insure," she said, adding, "They are the villains. They have been part of the problem in a major way. They are doing everything in their power to stop a public option from happening."
"Private health insurance companies do not make a huge percent of profit."
In the past 13 years, more than 400 corporate mergers have involved health insurers, and a small number of companies now dominate local markets but haven’t delivered on promises of increased efficiency. According to the American Medical Association, 94 percent of insurance markets in the United States are now highly concentrated, and insurers are thriving in the anti-competitive marketplace, raking in enormous profits and paying out huge CEO salaries.
When you "buy insurance" what you are in fact doing is giving somebody money in exchange for nothing.
They control who you can go to for a doctor, they control what sort of treatment you can get, and if it turns out that you really do need treatment, and they may have to pay their part, they can simply refuse to do so
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But CEO William McGuire, of UnitedHealth Group, a health insurance company, stands alone. His annual salary in 2005 was 124 million dollars and he has been provided stock options worth more than 1.7 billion dollars, according to Forbes.com. As part of his retirement package, he and his spouse will receive free health care for as long as they live, according to AFL-CIO Corpwatch.
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CEO William McGuire, of UnitedHealth Group, a health insurance company, stands alone. His annual salary in 2005 was 124 million dollars and he has been provided stock options worth more than 1.7 billion dollars
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This year, an estimated 1.5 million Americans will declare bankruptcy. Many people may chalk up that misfortune to overspending or a lavish lifestyle, but a new study suggests that more than 60 percent of people who go bankrupt are actually capsized by medical bills.