I don't understand.
If "big business," "multinational corporations," "the bottom line," "extraordinary CEO salaries and benefits packages" are the problem,
then why is United Healthcare--marketing its policies thru AARP and paying AARP commissions "like an insurance agent"--NOT a "Big Business" problem in the Medicare system people are grappling with here?
"UnitedHealth Group Incorporated is a diversified managed health care company headquartered in Minnetonka, Minnesota, U.S. It is No. 17 on Fortune magazines top 500 companies in the United States. UnitedHealth Group offers a spectrum of products and services through two operating businesses: United Healthcare and Optum.
Through its family of subsidiaries and divisions, UnitedHealth Group serves approximately 70 million individuals nationwide.
In 2011, the company posted a net earnings of $5.142 billion.
UnitedHealth Group is the parent of
UnitedHealthcare, the largest single health carrier in the United States. It was created in 1977, as United HealthCare Corporation (it was renamed in 1998), but traces its origin to a firm it acquired in 1977, Charter Med Incorporated, which was founded in 1974.
In 1979, it introduced the first network-based health plan for seniors.
In 1984, it became a publicly traded company."
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Now, I don't have an MBA, and I'm not a CEO nor a CFO, but it sure looks to me like United Healthcare is "Big Business" and is surely focused on "the bottom line"......and its CEO gets "extraordinary salaries, benefits and stock options":
"Stephen J. Hemsley (born 1952) has been CEO of UnitedHealth Group Inc since 2006. Before joining the company in 1997, he had a career at Arthur Andersen, where he was Managing Partner and Chief Financial Officer.
According to bizjournals.com the country's highest-paid CEO, Stephen Hemsley, made $101.96 million in 2010. In 2011 he was named the highest paid CEO by Forbes following a large gain in the value of his stock ownership.
In late 2011, Hemsley's most recent annual compensation was estimated by Forbes at $48.8 million."
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AARP
"Approximately seven million people have AARP branded health insurance, including drug coverage and Medigap, as of April 2007 and AARP earns more income from selling insurance to members than it does from membership dues.
In 2008, AARP plans to begin offering several new health insurance products: an HMO for Medicare recipients,
in partnership with UnitedHealth Group; and a PPO and "a high-deductible insurance policy that could be used with a health savings account" to people aged 50–64,
in partnership with Aetna.
AARP will likely become the largest source of health insurance for Medicare recipients, and AARP estimates the new products will increase its health insurance customers to 14 million by 2014.
AARP is not an insurer and does not pay insurance claims. Instead, AARP allows its name to be used by insurance companies in the sale of insurance products,
for which it is paid a commission like an insurance agent."
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UnitedHealth Group - Wikipedia, the free encyclopedia
Stephen J. Hemsley - Wikipedia, the free encyclopedia
AARP - Wikipedia, the free encyclopedia