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The Real Problem with Health Insurance, GREED

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posted on Aug, 9 2009 @ 02:11 PM
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This article and video that follows is only about one of the CEO's of a Health Insurance Company.

Why is it that health insurance is soo expensive?

Well, one of the reasons is "The GREED" at the top of these companies!

Sick for Profit: Stephen Hemsley's Millions Come From Your Health

Meet Stephen Hemsley. He's the CEO of UnitedHealth. In 2007, he earned $13.2 million dollars. His unexercised stock options total three-quarters of a billion dollars. That's right - billion.

Why do people feel that they are soooo important that they need/should be paid such huge sums of money?

Here's a video, notice how much this guy has made EVERY DAY this year, every day this year, this guy has made $819,363.10! (screenshot @ 2:32)

Fight back against health insurance lies


Hope you also noticed the part where they say that $1.00 out of every $700 spent on health care premiums goes to pay him!

Of course, the insurance have to raise premiums and deny some people treatments in order to keep a person like him "happy".

Health Insurance Profits Soar as Industry Mergers Create Near-Monopoly


Profits at 10 of the country’s largest publicly traded health insurance companies rose 428 percent from 2000 to 2007, while consumers paid more for less coverage. One of the major reasons, according to a new study, is the growing lack of competition in the private health insurance industry that has led to near monopoly conditions in many markets.

The report says such conditions warrant a Justice Department investigation

Health Insurance Industry Fudges Data To Downplay Its Astronomical Profits

Within the context of companies’ revenues, insurers skim off 15-20 percent of premium dollars for administrative costs and profits. In fact, an examination of insurers’ medical loss ratio — the fraction of revenue from a plan’s premiums that goes to pay for medical services– suggests that within the last 10 years, insurers have been spending less on medical care and more on administrative costs or profits:

THIS is a huge problem with our health care system that I think should be straightened out somehow.



[edit on 8/9/2009 by Keyhole]




posted on Aug, 9 2009 @ 02:25 PM
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reply to post by Keyhole
 


This video is twisting the facts. He was only paid 13 million out of the revenue of the company. All the money he made from stock options would have came from the stock market. It is a great incentive for him to drive up the value of the stock for the shareholders. Pretty good business if you ask me.

[edit on 8/9/2009 by grapesofraft]



posted on Aug, 9 2009 @ 07:17 PM
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Originally posted by grapesofraft

This video is twisting the facts. He was only paid 13 million out of the revenue of the company. All the money he made from stock options would have came from the stock market.


YEAH!!!!

These are the stock options that the company GAVE him for working there!

More or less, it's part of his salary!



posted on Aug, 10 2009 @ 01:10 AM
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Originally posted by grapesofraft
He was only paid 13 million out of the revenue of the company. All the money he made from stock options would have came from the stock market.


Okay, so you think the "company" he's "working for" didn't actually "PAY him or GIVE himm these stock otions as pay?

PLEASE



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