UnitedHealth expects 2011 profit to slip
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#2 Nov 29, 2010
As 60 Minutes reported last November , Medicare fraud is rampant and has now replaced the cocaine (ahem) business as the major criminal activity in South Florida. Both 60 Minutes and the Washington Post report that Medicare fraud now costs American taxpayers roughly $60 billion a year. That may sound like a lot of money, but surely it pales next to the extraordinary profits of private insurance companies, right?
Well, let's see.... Last year, the profits of the ten largest insurance companies in America were just over $8 billion -- combined. No single insurance company made even five percent of what Medicare reportedly loses in fraud.
$60 billion..."close enough for government work".
#4 Nov 29, 2010
UHC lies.. I worked there.. THis is just a ploy to lower the cost of their stock so the execs can buy it up cheep, then announce record profits so they make billions.
of course they will have to jack your rates by 20-30% again just like they always do.
Real healthcare reform would say all Health Insurance is non-profit. but that will never happen
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