by Deb Cupples | Certain health-care-industry lapdogs who call themselves "Blue Dog Democrats" are retarding health-care reform. Apparently, the Blue Lapdogs don't want to give us hardworking Americans the freedom to choose between private health insurance and a non-profit, public option.
Bizarre, I know, given that having choices is good.
Blue Lapdog Mark Ross (D-Ark) claims that he wants affordable health care -- he just wants lower costs. (Huffington Post)
If reducing the costs is all that concerns the Blue Lapdogs, then they should examine at least these three factors contributing to our massive health-care costs: 1) insurance company profits, 2) executive pay at insurance companies, and 3) health-care-contractor fraud.
Every dollar that goes toward insurance company profits or executive pay is one less dollar to pay for our health care. Period. A recent report states:
Profits at 10 of the country’s largest publicly-traded health insurance companies rose 428 percent from 2000 to 2007, from $2.4 billion to $12.9 billion, according to U.S. Securities and exchange Commission filings." (HCAN report)
Note that profits are calculated after executive pay (which is a pre-profit "expense"). The table below gives a tiny glimpse of how much money insurance company execs have been funneling into their personal pockets.
Compensation for Top 5 (or 4) Insurance Company Execs (2006-2007)
["m" is short for million]
|
2006
|
2007
|
2-year Total
|
% Change
|
Aetna
|
. $35.7 m .
|
. $40.1 m .
|
$75.8 m
|
+ 12.3%
|
CIGNA
|
$32.9 m
|
$43.5 m
|
$76.4 m
|
n/a
|
Humana
|
$14.9 m
|
$22.4 m |
$37.3 m
|
+ 50.3%
|
MetLife
|
$41.3 m
|
$45.9 m
|
$87.2 m
|
+ 11.1%
|
WellPoint....
|
$45.5 m
|
$33.2 m
|
$78.7 m
|
n/a
|
Totals
|
$170.3 m
|
$185.1 m
|
$355.4 m
|
|