What the Hell?!?!?!?

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    Jun 04, 2009 3:34 AM GMT


    http://ca.news.yahoo.com/s/afp/090604/business/us_health_cancer_tobacco_canada_britain


    Major US, Canadian and British life and health insurance companies have billions of dollars invested in tobacco companies, a study published Wednesday in the New England Journal of Medicine said.
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    Wesley Boyd, the study's lead author, found that at least 4.4 billion dollars in insurance company funds are invested in companies whose affiliates produce cigarettes, cigars and chewing tobacco.

    "Despite calls upon the insurance industry to get out of the tobacco business by physicians and others, insurers continue to put their profits above people's health," said Boyd, a faculty member of Harvard Medical School.

    "It's clear their top priority is making money, not safeguarding people's well-being," he wrote.
    *********************************************************

    ...apparently the same health insurers that are refusing coverage or charging excessive premiums for smokers and ex smokers are working both ends.


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    Jun 04, 2009 3:37 AM GMT
    Oh man. Stuff like this scares meicon_eek.gif
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    Jun 04, 2009 3:38 AM GMT
    TrowelMonger saidOh man. Stuff like this scares meicon_eek.gif

    Stuff like what? ... alzheimer's? ... icon_eek.gif
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    Jun 04, 2009 3:54 AM GMT


    We're wondering how many of these companies caring about your health are investing in McDonald's etc.

    Ugh.
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    Jun 04, 2009 3:58 AM GMT
    Caslon11000 said
    TrowelMonger saidOh man. Stuff like this scares meicon_eek.gif

    Stuff like what? ... alzheimer's? ... icon_eek.gif


    What?
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    Jun 04, 2009 5:24 AM GMT
    Thanks Doug and Bill

    Reminds of

    Thank You For Smoking

    http://www.imdb.com/title/tt0427944/
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    Jun 04, 2009 5:58 AM GMT



    Hey Erik, The yahoo article makes a pretty good (silent) example of what happens when private enterprise runs healthcare.

    That movie was pretty funny but had the effect of making us pretty choked too. Good one!


  • Sayrnas

    Posts: 847

    Jun 04, 2009 7:20 AM GMT
    That doesn't surprise me unfortunately. icon_confused.gif
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    Jun 04, 2009 7:22 AM GMT
    Another capitalist glory hole for sure!! Stick it in and suck it!!
    icon_twisted.gif
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    Jun 04, 2009 8:26 AM GMT
    meninlove said"It's clear their top priority is making money, not safeguarding people's well-being," he wrote.



    Shocking news - you mean to tell me big corporations like insurance companies do not have the well being of their insured clients uppermost in their minds at all times - oh God - another pane in my rose tinted window shattered!! icon_eek.gif
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    Jun 04, 2009 9:23 AM GMT
    It sounds to me like a balancing act:

    More smokers, greater investment profits v greater insurance payouts.
    Fewer smokers, fewer investment profits v fewer insurance payouts.

    I don't think that there's a conflict of interest. It's highly unlikely that paying for cancer treatment is in an insurance company's best interest, but gaining income from each cigarette sold certainly could help to keep premiums low.
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    Jun 04, 2009 11:54 AM GMT
    Check out the dividend yield for Altria Group (parent company of Philip Morris USA):

    http://finance.yahoo.com/q?s=mo

    Div & Yield: 1.28 (7.50%)

    There's a lot of money to be made in cigarettes.
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    Jun 04, 2009 1:41 PM GMT


    makeumyne said, "I don't think that there's a conflict of interest. It's highly unlikely that paying for cancer treatment is in an insurance company's best interest, but gaining income from each cigarette sold certainly could help to keep premiums low."


    Yikes! Oh my, we disagree.

    What we see is insurance companies refusing coverage for smokers and at the same time, investing in the habit. By doing the latter, they will have a vested interest in people NOT quitting.

    Just think , if everyone quit, your premium would have to rise to offset their losses...
  • Timbales

    Posts: 13993

    Jun 04, 2009 2:43 PM GMT
    A company looking to make a profit? Shocking.
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    Jun 04, 2009 2:51 PM GMT



    Hey Timberoo, Making a profit is great; how it's done is just as important.
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    Jun 04, 2009 2:52 PM GMT

    Don't swear Doug & Bill.

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    Jun 04, 2009 2:58 PM GMT



    GuiltyGear said, "Don't swear Doug & Bill."


    Oh gosh, double darn, drat and shucks, you caught us.

    lol How are you Mr-proof-that-black-is-very-very-beautiful?




  • Timbales

    Posts: 13993

    Jun 04, 2009 2:59 PM GMT
    meninlove said


    Hey Timberoo, Making a profit is great; how it's done is just as important.


    I'm not justifying them, but they are a company, not a charity. They are going to do what they can to make a profit.
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    Jun 04, 2009 3:04 PM GMT


    You don't find it just a tad unethical and even rotten of them to go about making money this way?

    I our humble experience, whenever we have confronted company execs in letters or by telephone on this kind of thing, the first card they play is "now now corporations are made up of people just like you and me" and we reply "yes, and we hold individuals to ethical standards, so......"


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    Jun 04, 2009 3:40 PM GMT
    Yes, it is unethical. Insurance and pharmaceutical companies refuse to help you get better by covering what will cure you. They want you to be sick so they can still make money.
  • Apparition

    Posts: 3525

    Jun 20, 2013 9:42 PM GMT
    i've always wondered why huge christian groups in the states dont get off of their butts and offer fair cost health insurance to their memebers. it seems like it would be an awesome recruiting tool, the numbers are certainly there, would be a huge revenue source for them, and you know KIND OF IN THEIR MANDATE.
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    Jun 20, 2013 9:53 PM GMT
    No suprises here.

    Corporations exist for the sole purpose of generating a profit. They really don't give a rat's shit about anyone.

    I thought this was common knowledge.
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    Jun 20, 2013 10:02 PM GMT
    Insurance companies are running some of the most legal scams in the world. Also, we live in 21st century and saying that this is a business corporation that has to make profit doesn't justify anything. For some reasons this actually saddens me to a great deal.
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    Sep 08, 2013 12:42 AM GMT
    I am no longer surprised at these things - but still very horrified.
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    Sep 08, 2013 3:03 AM GMT
    4 year old thread?



    @Apparition - Shameful situation, but do you have any news or an update with this thread necro? Why ressurect? icon_question.gif