CNBC: Haines (yes Haines) busts Wellpoint CEO, Bartiromo shills her best --2:20

[underpants]

Run time: 02:20 https://www.youtube.com/watch?v=aCcx3558dpU   Posted on YouTube: September 23, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: September 24, 2009 By DU Member: underpants Views on DU: 1378

 
CNBC Calls Out WellPoint CEO For Lying About How Much Money It Makes Off Its Consumers

http://thinkprogress.org/2009/09/23/cnbc-braly-wellpoint/


HAINES: I believe you just said very cleverly worded 87 cents of every premium dollar goes to the delivery of healthcare. But in fact why don’t we look at your, the amount of payments you make per dollar you take in. It’s more like 80 cents, is it not? You pay 80 cents in benefits for every dollar. <...>

BARTIROMO: According to your 10k, the number is more like 80 or 81 cents.

BRALY: Yeah I’m citing a Pricewaterhouse Coopers study for the industry overall. 87 cents on the dollar is going to healthcare costs, in the industry–

HAINES: Well there you go again, that’s too cleverly worded. Going to healthcare costs? <...>

BRALY: Relative to other margins in the healthcare industry — biotech’s at 18, pharma’s at 16 — you know really we’re a low cost, low margin provider in the healthcare equation.


Haines was correct in calling out Braly’s deceptive language: WellPoint certainly does not spend 87 cents of every premium dollar on actual healthcare. In their 2nd quarter disclosures, WellPoint reportedly spent only 82.9% of every premium dollar on benefits, the remainder went to administrative costs, executive compensation (Braly herself makes approximately $10 million a year) and profits. The amount of every premium dollar spent on healthcare for WellPoint has actually been decreasing, while WellPoint has signaled they plan to be “hiking” premiums to at least “6% to 8% annually.” Although Braly likes to pretend that private insurers currently are a “low margin provider,” the truth is traditional Medicare’s administrative costs are only about 2%.

[Turbineguy]

1. Mark Haines

used to be the most liberal of the whole group.

[DJ13]

2. He still is

As he moved somewhat to the right the rest have moved so far to the right they make Ron Paul look liberal.

Especially Cabruso-Cabberra.

She's a facist and she doesnt hide it.

[boomerbust]

3. Maria Barforomo

:puke:

[mckara]

4. Mark Has His Moments of Greatness!

Maria, God bless her, is a hopeless, corporate SHILL! :puke:

[Bozita]

5. Susan Bayh, wife of Sen. Evan Bayh (D-Bluedog), sits on the board of Wellpoint Inc.

http://www.bloomberg.com/apps/news?sid=auTmNXiBqkjE&pid ...

Bayh's Running-Mate Chances May Be Hurt by Wife's Board Seats
By Timothy J. Burger



Aug. 19 (Bloomberg) -- Indiana Senator Evan Bayh, on a short list of Democrat Barack Obama's possible running mates, may face questions about potential conflicts of interest from his wife's work on seven corporate boards that paid her more than $837,000 last year.

Susan Bayh, a lawyer, is a director at Indianapolis-based WellPoint Inc., which is part of a medical research partnership awarded a $24.7 million federal grant in May after Evan Bayh and his Indiana colleagues in Congress recommended the group to the National Institutes of Health.

She's on the board of E*Trade Bank, a subsidiary of E*Trade Financial Corp., while her husband sits on the Senate Banking Committee. Susan Bayh is lead director at Emmis Communications Corp., an Indianapolis radio-station operator that published Evan Bayh's 2003 memoir.

``When you're vetting a vice president and his wife is on seven boards, that is a serious question of conflict of interest on a whole variety of issues,'' said James Thurber, director of American University's Center for Congressional and Presidential Studies in Washington.

Evan Bayh has gone ``above and beyond what is required under Senate ethics rules'' to prevent possible conflicts, forbidding his staff to communicate with lobbyists for companies where his wife is a director, Bayh's spokesman Eric Kleiman said.

more...

[Confusious]

6. That study probably includes not-for-profit insurance I'm sure

30-40 cents of every dollar goes for for-profit health insurance profits.

[JDPriestly]

7. Lived in Europe for years. Did not need to have a private, for-profit insurance

company paying our doctor's and hospital bills. For profit health care insurance companies are not necessary. They provide no service that cannot be provided just as effectively and for less money by either the government or a comprehensive not-for-profit run under close government supervision. For profit health care insurance companies are a waste of our money.