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Posted On: 12/05/2023 6:21:58 PM
Post# of 148903
The CEO ud UNH makes about 21 million, pretty typical — but those guys also get warrants or other awards of stock. There are certainly overpaid execs and wasted money in the non-profits, BUT —
The difference is that non-profits do not have shareholders that they pay dividends to. UNH, for instance, pays $7.52/share dividend.
Where does that dividend money come from? From the premiums we pay, and then from the profits they make by routinely denying payment for treatments that are medically necessary. Perhaps you may remember that tape of 2 employees guffawing and making jokes about a cancer patient whose treatment they denied repeatedly, even though it was medically necessary and was supposedly covered by their company. (Then he died without treatment and gee, it helped their profits.)
For-profit insurers are using very basic AI programs to routinely deny care. Statistics show that 90% of people who are denied will not appeal it.
There was another study that showed that non-profits had a MUCH lower rate of denial of claims.
So, I’d rather that my premium dollars go to paying for care for people, instead of paying for AI programs and employees who are hired specifically to increase profits by denying care. Yes, they are paying non-profit CEOs too much — but that’s better than also paying shareholders $7.52 dividend per share blood money, gained from literally killing people,
The difference is that non-profits do not have shareholders that they pay dividends to. UNH, for instance, pays $7.52/share dividend.
Where does that dividend money come from? From the premiums we pay, and then from the profits they make by routinely denying payment for treatments that are medically necessary. Perhaps you may remember that tape of 2 employees guffawing and making jokes about a cancer patient whose treatment they denied repeatedly, even though it was medically necessary and was supposedly covered by their company. (Then he died without treatment and gee, it helped their profits.)
For-profit insurers are using very basic AI programs to routinely deny care. Statistics show that 90% of people who are denied will not appeal it.
There was another study that showed that non-profits had a MUCH lower rate of denial of claims.
So, I’d rather that my premium dollars go to paying for care for people, instead of paying for AI programs and employees who are hired specifically to increase profits by denying care. Yes, they are paying non-profit CEOs too much — but that’s better than also paying shareholders $7.52 dividend per share blood money, gained from literally killing people,
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