Thursday, July 23, 2009

Killing Profitably

Killing us is very profitable...United Healthcare the largest health care insurer in the U.S. reported its 2nd quarter earnings on Tuesday. It earned $859 million, or 73 cents a share, up from $337 million or 27 cents a share, in the same quarter of 2008. Revenue came in at $21.7 billion, up from $20.3 billion in the second quarter of last year. The rest of the big insurers will report their Q2 results over the week but you can rest assured that they will be equally impressive.

I'm sure a lot of the folks at United Heath are going to be very happy with the extra money in their paychecks earned by denying folks needed services and dropping people that are too sick to insure. It is really profitable to collect buckets of money from healthy people and then drop them when they actually get sick.

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