> Obama Regime Report < Obama Regime Report: FACT CHECK: Health insurers' profits 35th of 53

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Monday, October 26, 2009

FACT CHECK: Health insurers' profits 35th of 53

Nothing but lies are all that come from these people in this white house and that includes the Chief Community Organizer himself when he lied accusing Insurance Companies of obscene profits.

Only to a Neo Marxist like Obama would a 2% profit margin be considered Obscene..In fact health insurance companies made the same profit levels made by the sale of Tupperware ! That's right, those sick Shysters over at the Tupperware corporation should be drawn and quartered according to the left and Obama's lie filled speech.

Here's the lie from last week I believe.....

And here's the facts....
Yahoo! News: "WASHINGTON – In the health care debate, Democrats and their allies have gone after insurance companies as rapacious profiteers making 'immoral' and 'obscene' returns while 'the bodies pile up.'

But in pillorying insurers over profits, the critics are on shaky ground. Ledgers tell a different reality.

Health insurance profit margins typically run about 6 percent, give or take a point or two. That's anemic compared with other forms of insurance and a broad array of industries, even some beleaguered ones.

Profits barely exceeded 2 percent of revenues in the latest annual measure. This partly explains why the credit ratings of some of the largest insurers were downgraded to negative from stable heading into this year, as investors were warned of a stagnant if not shrinking market for private plans.

Insurers are an expedient target for leaders who want a government-run plan in the marketplace. Such a public option would force private insurers to trim profits and restrain premiums to compete, the argument goes. This would 'keep insurance companies honest,' says President Barack Obama.

The debate is loaded with intimations that insurers are less than straight, when they are not flatly accused of malfeasance."  continued..


The urge to save humanity is always a false front for the urge to rule it. H. L. Mencken

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