Health Insurers Making Record Profits? Hardly.

Tuesday, November 3, 2009, 6:12
Battleground Iowa
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6 comments

By Emily Geiger

Dr. Barry As always, the debate over healthcare “reform” is heated as ever. I saw an article about a week ago, and I purposefully waited to see if it gained any traction in the mainstream media.

Q: How many times have you heard those in the healthcare industry demonized by the proponents of Obamacare?

A: Too many times to count.

But is this really an accurate depiction? Are the Obamacare advocates being honest?

I think it was just last Friday night that I heard Dr. Alan Koslow on WHO claim that healthcare in the U.S. costs twice as much as other places. Of course, he didn’t compare the quality of care provided, but I digress.

The truth of the matter is that the average health insurance company usually earns profits of approximately 6%. Last year the average was 2%.

In case you are curious, here are the rates of profit for some other U.S. corporations.

-Tupperware Brands, 7.5 percent;
-Yahoo, 5.9 percent;
-Hershey, 6.1 percent;
-Clorox, 8.7 percent;
-Molson Coors Brewing, 8.1 percent;
-construction and farm machinery, 5 percent;
-Yum Brands (KFC, Pizza Hut, Taco Bell), 8.5 percent.

That evil Tupperware Corporation. How dare they make such exorbitant profits? And don’t even get me started on KFC. I should be getting 8.5% more chicken in every bucket, darn it.

Yes, that is ridiculous, but so is the vilification of the entire healthcare industry.

But despite this truth, here are some recent quotes from proponents of Obamacare.

-”I’m very pleased that (Democratic leaders) will be talking, too, about the immoral profits being made by the insurance industry and how those profits have increased in the Bush years.” — House Speaker Nancy Pelosi, D-Calif., who also welcomed the attention being drawn to insurers’ “obscene profits.”

-”Keeping the status quo may be what the insurance industry wants their premiums have more than doubled in the last decade and their profits have skyrocketed.” — Maryland Rep. Chris Van Hollen, member of the Democratic leadership.

-”Health insurance companies are willing to let the bodies pile up as long as their profits are safe.” — A MoveOn.org ad.

I guess some people won’t let a little thing like the truth get in the way of their political agenda.

Tags: Insurance Industry, Obamacare

About the Author

Battleground Iowa has written 184 stories on this site.

Emily Geiger writes from a conservative perspective on everything from politics to religion to pop culture. Like the original Emily of Revolutionary War era, this Emily is delivering important messages crucial to winning the raging war of the time, but today, this is a culture war rather than a traditional one. And, like the original Emily, sometimes it takes a woman to do (or say) that which lesser men lack the courage and tenacity to do.

6 Comments on “Health Insurers Making Record Profits? Hardly.”

Deace voted for Obama wrote on 3 November, 2009, 7:37
Typical modern-day Democrats!! The truth is irrelevant. They are economic illiterates but the bright spot may be that even in places like NJ, there may be enough people waking up to know they have to throw out the Democrats if they want to have anything left.
Silence Dogood wrote on 3 November, 2009, 16:39
Good, lord, emily is now defending the health insurance industry, I didn’t think she could be more of a lemming, but yet she proved me wrong.

silence
Silence Dogood wrote on 3 November, 2009, 16:44
I am writing off topic, since I know most of the people on here do not watch the colbert report, you are not aware that the US Speed skating team lost its primary sponsor and is scrabling for funds. Colbert has stepped in to help fundraise for them. I know many of you probably don’t like him, but this is a good patriotic cause I thought everyone could get behind. You can go to colbertnation or the US speed skating cite to make a donation.

silence
robpo wrote on 9 November, 2009, 11:10
Lets look at the whole truth, because this piece only covers part of it. Health insurance premiums are up 131% over the past 10 years. If its not going to insurance company profits, where is the money going? Doctors? Taxes? Executive compensation? Where is the money going?
Peggy wrote on 9 November, 2009, 11:23
Most likely to trial lawyers like Roxanne Conlin.
Al wrote on 9 November, 2009, 12:03
Rob, you completely missed the point if Emily’s article. She is pointing out the lies that the Democratic leadership have been using to try to ram a bill down our throats that the public does not want.