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This is absolute gold! A professional from the health insurance sector, shares straightforward, mind-blowing facts.
It’s four minutes long, but absolutely 'must watch' if you live in the US.
#UnitedHealthcare #CEO #UHC #HealthInsurance #BigPharma #Doctors #Claims #Government
Since the Affordable Care Act’s passage, the top five health insurers’ annual profits have jumped 230 percent, with much of that going to #UnitedHealthcare
America’s largest health insurers have raked in more than $371 billion in profits since the passage of the #aca.
More than 40 percent of that net income went to UnitedHealth Group, whose annual profits skyrocketed by nearly 400 percent while the company denied nearly one in three medical claims from its policyholders.
Insurers garnered these profits as the average American families’ premiums have risen to nearly $26,000 a year. In all, since the ACA was passed in 2010, more than $9 trillion of revenue has flowed to the country’s largest health insurance companies.
#eattherich #MakeGuillotinesGreatAgain #uhc #uspol #healthcare
Y’all, let’s talk about American healthcare and Wall Street. Yes, insurance executives are monsters, but...the wolves of Wall Street are their masters: their relentless profit demands, their growing entanglement in the health care sector is a large factor in our pain.
The ACA required health plans to spend at least 80% to 85% of premiums insurers take in on enrollees’ care, known as the medical loss ratio. But insurers figured out if they also become health care providers — by buying physician practices, clinics, and pharmacy benefit managers — they can meet that threshold by paying themselves and avoiding payment for their customers’ care.
Hundreds of acquisitions later, UnitedHealth is now the fourth largest U.S. company — just behind Walmart, Amazon, and Apple. And traded companies care more about shareholders than patients.
statnews.com/2024/12/11/wall-s…
#uhc #unitedhealthcare #cigna #wallstreet #MakeGuillotinesGreatAgain #KillHedgeFunds
Don’t overlook Wall Street’s role in health insurance greed | STAT
As the former VP of corporate communications at Cigna, I used to protect the health insurance business. Today's public conversation is missing something.Wendell Potter (STAT)
"How is it that in a country filled with both assault rifles and unimaginable acts of murderous cruelty committed by fantastically wealthy corporations, people don't leap from their murderous impulses to their murderous weapons to commit murderous acts?“
@pluralistic thoughts on a crime he predicted in his novella Radicalized
pluralistic.net/2024/12/09/rad…
#uhc
The new UnitedHealthcare #UHC #CEO, #AndrewWitty, gave a zoom address to the company today that was leaked to independent journalist Ken Klippenstein.
Witty told employees "we will continue to guard against...unnecessary care" and to "tune out the critical noise".
There's absolutely no 'care' in #UnitedHealthcare.
And from his accent I suspect Witty grew up in a country that has #universal #healthcare.
Cowards. Do right by your customers and you’ll have nothing to be afraid of because customers will be happy and healthy.
They’re hiding now because they know they’re shitty people that are taking advantage of their customers.
404media.co/multiple-major-hea…
#UHC #UnitedHealthCare #HealthCare #HealthInsurance
Major Health Insurance Companies Take Down Leadership Pages Following Murder of United Healthcare CEO
Following the shooting of United Healthcare CEO Brian Thompson, multiple major health insurance companies have taken their executive leadership pages offline.Samantha Cole (404 Media)
Last November, the estates of two former UHC patients filed suit in Minnesota alleging that the insurer used an AI algorithm to deny and override claims to elderly patients that had been approved by their doctors.
The algorithm in question, known as nH Predict, allegedly had a 90 percent error rate — and according to the families of the two deceased men who filed the suit, UHC knew it.
futurism.com/neoscope/united-h…
#UHC #UnitedHealthCare #HealthCare #HealthInsurance
Murdered Insurance CEO Had Deployed an AI to Automatically Deny Benefits for Sick People
Before United Healthcare CEO Brian Thompson was murdered, a lawsuit filed against the firm revealed just how bad its claims-denying was.Noor Al-Sibai (Futurism)
Cory (@pluralistic) has thoughts:
Our whole economy is now composed of companies with sociopath-shaped holes at the tops of their org chart. The reason these companies can only be run by sociopaths is the same reason that they have become infrastructure that is crumbling due to sociopathic neglect. The reckless disregard for the risk of combining companies is the source of the market power these companies accumulated, and the market power let them neglect their systems to the point of collapse.
(UHC's) execs are the kind of execs on a relentless quest to be too big to care, and so they don't care. Which is why they had to subsequently announce that they had suffered a breach that turned the complete medical histories of one third of Americans into immortal Darknet kompromat that is – even now – being combined with breach data from Equifax and force-fed to the slaves in Cambodia and Laos's pig-butchering factories:
