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The U.S. Chamber of Commerce: From Fighting Obamacare to Defending Big Pharma

HEALTH CARE un-covered • 559 implied HN points • 20 Aug 24
🇺🇸 U.S. Politics Healthcare policy Lobbying Legislation Insurance Industry
  1. The U.S. Chamber of Commerce has a history of opposing health care reforms like Obamacare, fighting to protect the insurance industry's profits. Their actions have often prioritized big business over the needs of everyday people.
  2. Recently, the Chamber has also opposed Medicare's efforts to negotiate lower drug prices. They claim it will harm the pharmaceutical industry, but many seniors could benefit from cheaper medications.
  3. Overall, the Chamber does not represent small businesses or local interests as much as it represents large corporations. Their lobbying efforts highlight how some businesses prioritize profit over the well-being of the public.

Republican Calculation: Don't Support Obama's Affordable Care Act

HEALTH CARE un-covered • 499 implied HN points • 21 Aug 24
🏥 Health Politics Health Reform Public Policy Misinformation Insurance Industry Bipartisanship
  1. The Affordable Care Act (ACA) was designed to help many people, especially those with preexisting conditions, get health insurance. However, there was a lot of confusion and misinformation surrounding it from the start.
  2. Many Republicans initially rejected working with Democrats on the ACA, believing it would help them in future elections by framing it as a 'government takeover of health care.' This strategy worked, as Democrats faced significant losses in the following elections.
  3. Despite the ACA being based on ideas that once had bipartisan support, misinformation continued to spread, making it harder for people to understand its actual impact and benefits over the years.

Fifteen Years Ago Today I Became a Whistleblower

HEALTH CARE un-covered • 1039 implied HN points • 24 Jun 24
🇺🇸 U.S. Politics Health Policy Whistleblowing Insurance Industry Government reform Political Advocacy
  1. Becoming a whistleblower can be a big, brave step. It means standing up for what's right, even when it could hurt your career.
  2. Working in healthcare, some companies mislead the public and lawmakers. This can lead to serious consequences, like denying care to patients who need it.
  3. Transparency and honesty are vital in healthcare. Sharing insider knowledge can help push for important reforms and make the system better for everyone.

FTC: Big Insurance’s PBMs “Profit at the Expense of Patients by Inflating Drug Costs and Squeezing Main Street Pharmacies"

HEALTH CARE un-covered • 579 implied HN points • 09 Jul 24
🇺🇸 U.S. Politics Healthcare policy Regulatory Affairs Insurance Industry Consumer Advocacy
  1. Big insurance companies and pharmacy benefit managers (PBMs) are making money by increasing drug prices and hurting small pharmacies. This means patients often pay more for their medications.
  2. The FTC found that just six companies control most of the pharmacy benefit market, limiting options for patients and squeezing independent pharmacies.
  3. Many people struggle to afford their medications, with some saying they skip doses because of high costs. This shows the serious impact of PBMs on healthcare access.

Investigations into health care consolidation, profiteering lack necessary insurer angle

HEALTH CARE un-covered • 499 implied HN points • 20 May 24
🏥 Health Politics Healthcare system Policy Analysis Insurance Industry Market Regulation Corporate Accountability
  1. Private equity firms are not the only problem in healthcare. Insurers, especially those owned by Wall Street, are also making big profits and taking over more doctor practices.
  2. A lot of attention is on private equity's role in healthcare, but insurance companies like UnitedHealth are also growing and may pose an even bigger issue. They have control over many doctors and healthcare facilities.
  3. There's a new effort from the DOJ to look into how much power insurers have in the healthcare market. This could bring more focus on the actions of insurance companies, not just private equity.
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Foundational Steps Vital on the Road to Universal Health Care

HEALTH CARE un-covered • 379 implied HN points • 09 May 24
🏥 Health Politics Healthcare policy Insurance Industry Economic Impact Public Health
  1. Incremental changes in health care shouldn't be viewed negatively. They can be seen as essential steps that help us get closer to universal health care.
  2. The pandemic showed how unprepared many health systems were, revealing deep flaws that need fixing for better care in the future.
  3. Fighting for universal health care means understanding the complex ties between health care and finance, as both sectors are deeply connected and affect each other's success.

New reports detail UnitedHealth's latest acquisitions under shady pretenses

HEALTH CARE un-covered • 479 implied HN points • 11 Mar 24
🏥 Health Politics Healthcare system Insurance Industry Acquisitions Regulatory issues Financial impact
  1. UnitedHealth is buying a lot of clinics, especially in areas where it already has many Medicare Advantage members. This helps them earn more money from the government.
  2. As UnitedHealth grows, it doesn't have to publicly announce many of its deals. This means they can make several acquisitions without much notice to shareholders.
  3. The company seems to be taking advantage of crises in healthcare, such as when a recent hack affected doctors’ payments, by pushing through acquisitions that profit them during tough times.

UnitedHealth Group takes Wall Street hit because of investors' fears about Medicare Advantage profitability, Department of Justice antitrust investigation

HEALTH CARE un-covered • 519 implied HN points • 28 Feb 24
🏥 Health Politics Healthcare policy Insurance Industry Regulatory Affairs Market Trends
  1. UnitedHealth Group is experiencing a big drop in its stock value because investors are worried about how profitable Medicare Advantage plans are. Many insurance companies are losing millions as healthcare usage by seniors increases.
  2. The Department of Justice is investigating UnitedHealth for possible antitrust issues related to its many acquisitions. This investigation is looking into how its insurance and healthcare services may be violating federal rules.
  3. There are growing concerns among both political parties about how Medicare Advantage plans are run. Bills are being introduced to make these plans more transparent and to reduce overpayments to them.

The top 10 recipients of campaign cash from seven health insurance industry PACs

HEALTH CARE un-covered • 639 implied HN points • 03 Nov 23
🏥 Health Politics Healthcare Reform Insurance Industry Campaign Finance Medicare Advantage Political Influence
  1. Health insurance companies are heavily funding politicians, especially those in powerful positions. This gives them influence over healthcare policies, especially Medicare.
  2. A lot of Medicare-eligible people are being pushed towards private insurance plans called Medicare Advantage, which can lead to worse care for patients.
  3. There's a lot of money involved in keeping the status quo for insurance companies, including political campaign contributions and lobbyists working to protect their interests.

How UnitedHealth became Goliath, Medusa and mythical sirens all wrapped into one

HEALTH CARE un-covered • 619 implied HN points • 05 Oct 23
🏥 Health Politics Healthcare policy Insurance Industry Corporate Influence Public Health Economic Impact
  1. UnitedHealth has grown to be one of the biggest companies in the world, worth nearly half a trillion dollars. It has more members than the population of many countries, showing just how large its impact is.
  2. UnitedHealth is more than just an insurance company; it employs thousands of doctors and has various services like pharmacies and clinics. This makes it a big player in the healthcare industry.
  3. The article suggests it's important to understand how companies like UnitedHealth affect our healthcare costs and decisions about care. Their influence is significant, and we need to be aware of it.

Health insurers have spent over $141 billion buying back their own shares since 2007 while premiums and deductibles have skyrocketed

HEALTH CARE un-covered • 619 implied HN points • 04 May 23
🏥 Health Politics Healthcare Costs Insurance Industry Corporate ethics Legislation
  1. Health insurers have spent about $141 billion on buying back their own shares since 2007. This means money that could help lower premiums is going to make executives richer instead.
  2. As health insurers buy back shares, premiums and deductibles for customers have gone up a lot. Many people are struggling with high medical debts while companies focus on profits.
  3. There are efforts to change laws around stock buybacks, but so far, nothing has passed. Many believe that these buybacks hurt workers and families instead of helping them.

Big health insurers are using Washington-based trade group the Pharmaceutical Care Management Association (PCMA) to bankroll ad campaigns in the DC area

HEALTH CARE un-covered • 519 implied HN points • 20 Jun 23
🏥 Health Politics Healthcare policy Insurance Industry Pharmaceuticals Public Health
  1. Big health insurers are using a group called PCMA to run ads in Washington to protect their profits in the pharmacy supply chain. They want everyone to think they're on the side of patients.
  2. Pharmacy Benefit Managers (PBMs) are making more money than traditional health insurance companies. They decide which medications people can access and how much they have to pay.
  3. The ads you're seeing about PBMs being beneficial are actually paid for by the insurers, meaning the costs are coming from the money you pay in premiums and taxes.

Q1 2023: UnitedHealth Group made $27.8 billion from the drug supply chain; spent $3.5 billion buying back their own stock

HEALTH CARE un-covered • 539 implied HN points • 19 Apr 23
🏥 Health Politics Healthcare policy Pharmaceuticals Insurance Industry Government programs Patient Advocacy
  1. UnitedHealth made a huge profit of $27.8 billion from the drug supply chain in just the first quarter of 2023. They also spent $3.5 billion buying back their own stock to increase value for shareholders.
  2. The company has dramatically increased its revenues and profits over the past decade, primarily from government programs like Medicare and Medicaid. Their pharmacy benefit manager, Optum Rx, has seen massive growth, capturing more money from patients.
  3. Despite their growth, the company's enrollment in commercial health plans has barely changed. Instead, more people are signing up for their Medicare Advantage plans, which suggests they are shifting focus to government-supported programs.

December 5, 2024

Letters from an American • 17 implied HN points • 06 Dec 24
🇺🇸 U.S. Politics Health Policy Gun Violence Insurance Industry Corporate Power Public Sentiment
  1. The assassination of UnitedHealthcare's CEO has sparked outrage and debate about the power that big insurance companies have over people's lives. Many people feel anger towards these companies for prioritizing profits over patient care.
  2. UnitedHealthcare is facing numerous lawsuits and criticism for denying coverage and using flawed algorithms that frequently reject claims. This raises serious concerns about the practices of health insurance companies.
  3. There is growing public frustration with how government and big businesses interact, which is highlighted by this incident. People are starting to push back against the influence of wealthy executives on healthcare and regulations.

Cigna and CVS's CEOs pulled in $632 million while 100 million Americans are buried under medical debt

HEALTH CARE un-covered • 479 implied HN points • 24 Feb 23
🏥 Health Politics Healthcare access Medical Debt Insurance Industry Corporate Accountability
  1. The CEOs of Cigna and CVS made a staggering $632 million while many Americans struggle with medical debt. This highlights a big gap between executive pay and the financial struggles of everyday people.
  2. One of the main issues is that many in the U.S. have extremely high deductibles, which means they take on a lot of out-of-pocket expenses before getting any help from insurance.
  3. There is a huge disparity in pay between these executives and their employees, with ratios reaching as high as 458 to 1. This raises questions about how fairly companies value their workers compared to top management.

UnitedHealth Group's 2022 Earnings are in, PBM Optum outperforms health insurance division

HEALTH CARE un-covered • 199 implied HN points • 13 Jan 23
🏥 Health Politics Healthcare policy Insurance Industry Pharmacy Benefits Profit Margins
  1. UnitedHealth Group's pharmacy benefit manager, Optum, is now making more profits than its health insurance division. This shows a big shift in how these companies are making money.
  2. Over the past decade, Optum has seen huge growth in both revenue and profits, while the health insurance side has not grown as fast. This tells us where the real money is for these companies now.
  3. Many major companies, like Cigna and CVS, are also finding their profits mainly from managing drug supplies instead of just selling health insurance. This shows a trend in the healthcare industry where drug supply roles are becoming more profitable.

CVS/Aetna's $9 billion in profits paid for a lavish party and stock buybacks. Not patients' medical claims.

HEALTH CARE un-covered • 239 implied HN points • 10 Aug 22
🏥 Health Politics Healthcare access Corporate Profits Patient Advocacy Medical Debt Insurance Industry
  1. CVS/Aetna made $9 billion in profits, which they used for parties and buying back stocks, not helping patients with their medical costs.
  2. Many patients are struggling with high out-of-pocket medical expenses, leading them to seek help through crowdfunding platforms like GoFundMe.
  3. Executives at CVS/Aetna are making huge salaries, while the company is spending less on actual patient care, raising concerns about corporate priorities in healthcare.

EXCLUSIVE: UnitedHealth Group made $81 billion in revenues during Q3 2022, billions subsidized by American tax dollars

HEALTH CARE un-covered • 199 implied HN points • 14 Oct 22
🇺🇸 U.S. Politics Health Policy Corporate Influence Insurance Industry Economic Impact
  1. UnitedHealth Group's revenues hit $81 billion in just one quarter of 2022, showing a huge profit increase over the last decade. Despite this, they have fewer people enrolled in private health plans compared to ten years ago.
  2. Many Americans are facing higher medical costs, including premiums and out-of-pocket expenses, with UnitedHealth contributing to this inflation. This means more financial strain on people, especially those with employer-sponsored insurance.
  3. The growth of UnitedHealth's Medicare and Medicaid plans highlights how private insurers are benefiting from government-funded healthcare. This creates concerns about fairness and access to care for low- and middle-income Americans.

In 2021, 72% of UnitedHealth’s $222.9 billion revenue came from taxpayers.

HEALTH CARE un-covered • 259 implied HN points • 27 Jan 22
🏥 Health Politics Healthcare system Insurance Industry Government programs Public funding Health economics
  1. In 2021, most of UnitedHealth's revenue, about 72%, came from taxpayer money, highlighting their dependence on government programs.
  2. The majority of UnitedHealth's growth in the last decade came from government programs like Medicare and Medicaid, not from private insurance.
  3. Healthcare costs for families are rising, with premiums and deductibles taking a larger slice of their income compared to a decade ago.

Wall Street investors punish Cigna for not promising them bigger profits.

HEALTH CARE un-covered • 139 implied HN points • 04 Feb 22
🏥 Health Politics Healthcare system Insurance Industry Investor Relations Prescription drugs
  1. Cigna's stock dropped significantly because investors were unhappy with the company's profit expectations for the year. This shows how much pressure companies face to make big profits.
  2. Instead of using their money to help customers with lower premiums and out-of-pocket costs, Cigna preferred to buy back shares to boost profits just for shareholders.
  3. Overall, more people are feeling underinsured as healthcare costs rise, even with higher premiums, just so big companies like Cigna can keep investors satisfied.

80% of UnitedHealthcare’s growth is coming from Uncle Sam.

HEALTH CARE un-covered • 159 implied HN points • 02 Jul 21
🇺🇸 U.S. Politics Healthcare policy Government programs Medicare Advantage Insurance Industry
  1. Most of UnitedHealthcare's growth, about 80%, comes from government programs like Medicare and Medicaid. This shows how much the company relies on taxpayer money.
  2. Since the Affordable Care Act, UnitedHealthcare has shifted from individual customers to mainly serving Medicare and Medicaid patients. This change has helped them grow significantly in the last decade.
  3. Private insurance revenue has only seen modest growth, while government revenue has tripled. This trend raises concerns about the privatization of Medicare and how it affects overall healthcare.

U.S. Chamber of Commerce Swings Into Action to Protect Health Insurers’ Profits at the Expense of Its Members

HEALTH CARE un-covered • 139 implied HN points • 24 Aug 21
🇺🇸 U.S. Politics Health Policy Corporate Influence Insurance Industry
  1. The U.S. Chamber of Commerce is actively defending employer-sponsored health insurance, which is important for insurers' profits. They claim it provides significant value, but many people have lost this coverage, especially during the pandemic.
  2. Recent legislation in some states for public health options is making insurers nervous. They see any movement towards alternatives to employer-sponsored insurance as a threat to their profits.
  3. The insurance industry is using powerful lobbying and public relations strategies to protect their interests in Washington. They are pushing hard to maintain the status quo, especially as proposals for public options or Medicare expansion gain traction.