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Thread: FACT CHECK: Health insurer profits not so fat

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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by Kali View Post
    They make hidden money.
    Oh wow.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by apdst View Post
    I didn't know this. Health insurance companies only make a 6% +/- profit? That's a going out of business profit margin. I wouldn't own a business that only made a 6% profit margin. Hell, if I had a business that didn't make 10%+, I would close it down and walk off and that's still below the bottom end of the national average. I mean, a business that actually meant to make money and not just a tax shelter. The tax shelters I own make negative profits, but that's what they're supposed to do.

    These are the evil, greedy, money grubbin' insurance companies that the Libbos tell us about? Really? No wonder insurance companies turn people away for pre-existing conditions. With a 6% profit margin, there's no way an insurance company could staty afloat if they insured every swinging dick that signed up. Good God!!!

    This just goes to how how dishonest Libbos and the MSM really are. How dare they not reveal this information before now?
    Keep in mind what they're getting 6% of. 6% of 50,000 isn't that much; however, 6% of the billions made by insurance companies annually is actually pretty damn good.

    Don't by the hype. 6% is more than they need.

    Do not by the hype.

    Examples:

    UnitedHealth earned $859 million. But that's not a record for quarterly net income. During the same period in 2007, for example, its net income was $1.23 billion.

    Full article: http://www.politifact.com/truth-o-me...rofit-not-rec/

    Have a look at the political message at: http://www.angryasianman.com/2009/09...companies.html
    Last edited by Vader; 10-25-09 at 10:32 PM.

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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by Vader View Post
    Keep in mind what they're getting 6% of. 6% of 50,000 isn't that much; however, 6% of the billions made by insurance companies annually is actually pretty damn good.
    Do you know what a profit margin means?

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by apdst View Post
    On a billion, obviously. The part that you obviously don't understand, is that either way, you still only have a 6% profit to operate off of for the following year. Which means, that you spent 940 million bucks this past year, and for next year, you only have 60 million bucks to cover the years expenses, in case there are any shortfalls. And, that means, that if you go through that 60 million in the first 4-6 months, well, you're ****ed for the rest of the year. Yeah, they call that operating capital. Surely, the math just jumps out at you. Now, that is common sense...
    Considering labor costs are proportionate what would you rather make? 6% on a 100k or 6% on 1 billion.

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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by Kali View Post
    They make hidden money.
    And, that's not illegal. What is illegal, is for the government to go on a witch hunt because of it. I know it may come as a shock to most on the Left, but this is America and there's nothing wrong with making money.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by winston53660 View Post
    Considering labor costs are proportionate what would you rather make? 6% on a 100k or 6% on 1 billion.
    You're missing the whole point. It's irrelevant what your gross figure is, the point is, that a company has to have a safe amount of operating capital for the upcoming year. 6% profit, even on a gazillion dollars, isn't what would be called a safe profit margin.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by apdst View Post
    You're missing the whole point. It's irrelevant what your gross figure is, the point is, that a company has to have a safe amount of operating capital for the upcoming year. 6% profit, even on a gazillion dollars, isn't what would be called a safe profit margin.
    Oh so you are calling for some form of regulation.

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    Re: FACT CHECK: Health insurer profits not so fat

    They’re not hurting when they can cough up a bonus like this to a CEO. Note the bolded part about backdating stocks.



    <n March, the Wall Street Journal raised questions about possible options backdating at UnitedHealth (a practice that, while permissible under certain circumstances, can amount to outright theft of shareholder assets.>


    <No wrongdoing has so far been established, but the company, the SEC, and government prosecutors are all still investigating. Even so, the stock is down 22%, a drop that has lowered the value of McGuire's trove of in-the-money options from $1.6 billion in December to a still hefty $1 billion today.>

    FORTUNE: The real CEO pay problem - July 10, 2006
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by donc View Post
    They’re not hurting when they can cough up a bonus like this to a CEO. Note the bolded part about backdating stocks.



    <n March, the Wall Street Journal raised questions about possible options backdating at UnitedHealth (a practice that, while permissible under certain circumstances, can amount to outright theft of shareholder assets.>


    <No wrongdoing has so far been established, but the company, the SEC, and government prosecutors are all still investigating. Even so, the stock is down 22%, a drop that has lowered the value of McGuire's trove of in-the-money options from $1.6 billion in December to a still hefty $1 billion today.>

    FORTUNE: The real CEO pay problem - July 10, 2006
    If the guy made a profit for the company, when thy only expect a 6% profit margin, then he most certainly earned it.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: FACT CHECK: Health insurer profits not so fat

    Quote Originally Posted by winston53660 View Post
    Oh so you are calling for some form of regulation.
    No, if anything, I'm calling for de-regulation of the insurance industry, to spur competition and lower insurance rates. That would make too much sense and be waaaaaay too easy, so of course the Libbos aren't going to do that.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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