UnitedHealth - largest health insurer also largest political contributor [View All]

[dflprincess]

http://www.startribune.com/stories/535/5035685.html

Health and politics in an election year
David Phelps, Star Tribune
October 18, 2004 UNITED1018

The presidential election might be high stakes for the entire nation, but there seems to be no doubt within the offices of UnitedHealth Group Inc. that the results on Nov. 2 will be important to the company's future.

The nation's largest health insurer, Minnetonka (Minnesota)-based UnitedHealth has also become the largest political contributor in its industry, with the bulk of its donations going to President Bush and other Republican candidates.

Campaign contributions to federal candidates by UnitedHealth's political action committee and employees are on a pace to more than double the amount the firm gave in the 2000 race. Contributions this year totaled nearly $463,000 by the end of September, compared with $227,350 in all of 2000, $185,000 in 2002, when only congressional seats were up for election, and $177,000 in 1996.

Throw in contributions by executives and political action committees belonging to new acquisitions of UnitedHealth and the contributions approach $1 million. The figures came from reports filed with the Federal Election Commission, sorted by the Center for Responsive Politics and analyzed by the Star Tribune.

UnitedHealth Chairman and CEO Dr. Bill McGuire co-hosted a fundraising dinner for Bush and has raised more than $100,000 for the Bush-Cheney campaign, earning him the "pioneer" title given to top fundraisers. …

"This is a democracy, and this is how it works," said Lois Quam, CEO of the Ovations division of UnitedHealth. "It's point of view that if good people don't go into public life, then bad people do."


I have a feeling my definition of "good people and bad people" is not the same as McGuire's. This is the same Bill McGuire who made 94 million in salary, bonus and stock options last year. He's also been quoted as saying he's on a "Mission to reform healthcare in America". No doubt his plan is to find a way to collect premiums and not pay any claims.

UHG is not able to sell its HMO product in its home state of Minnesota because Minnesota does not allow for profit HMOs. Strangely enough, the Repuke running for the state House in my district wants to change the law to allow for profits HMOs claiming it will "increase competition". I understand several Republicans in the state are pushing this idea. Proving once again the money talks.