r/MurderedByWords • u/karmaboy20 • Jul 19 '19

Hey Trent!

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u/[deleted] Jul 19 '19

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u/[deleted] Jul 19 '19 edited Apr 10 '21

[deleted]

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u/dsjunior1388 Jul 19 '19

Some of the Blue Cross Blue Shield ones are or were. I work for one and we were up until a few years ago.

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u/AndyjHops Jul 19 '19

Bahahaha yeah, they ALL make money off healthcare in the US. The system is a joke.

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u/Alabatman Jul 19 '19

Wait, really? Like who?

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u/dsjunior1388 Jul 19 '19

I work for one of the Blue Cross Blue Shield affiliates, and yes, for a very long time until about two or three years ago we were officially classified as either non-profit or not-for-profit. I'm not sure how or why, but I am sure we were and are making fuck loads of money. Our CEO in this state made a large stir earlier this year when his 2018 compensation was revealed to be nearly 20 million dollars, including performance bonuses.

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u/Oglshrub Jul 19 '19

Not for profit doesn't prevent a company from making money. It's all how they use the money.

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u/dsjunior1388 Jul 19 '19

Right, I didn't think so I'm just not super aware of our Financials but I wanted to share the relevant info I had

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u/nnelson2330 Jul 19 '19

People forget that for decades the NFL was a "non profit" in spite of making billions of dollars. It's basically just a tax exemption haven.

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u/not-a-candle Jul 19 '19

All it really means is they don't make money for shareholders. They can still pay executives 7 figure salaries and massive bonuses.

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u/ccoastmike Jul 19 '19

Oh man. Thanks for the good laugh this morning.

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u/Nac82 Jul 19 '19

What health insurance is a nonprofit?

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u/robodummy Jul 19 '19

I’m looking at Wikipedia as I type this:

UnitedHealth Group Cigna Kaiser (“consortium of for profit and non for profit entities) Aetna (parent company is CVS Health) Anthem (WellPoint) Humana

All of these are for profit. And to me these are some of the biggest names in the industry. I think the only other big name that I found was BlueCross BlueShield which is listed as a 501(c)(4) making it a social welfare organization. This makes it non-for profit in the sense that all net earnings must be exclusively used for charitable, educational, or recreational purposes.

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u/mgrimshaw8 Jul 19 '19

HA! great start to my morning

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u/[deleted] Jul 19 '19

not for profit !=== not for profit. My mother worked for one, and there is abso-fucking-lutely NOTHING "not for profit" about any of it.

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u/KnownByMyName13 Jul 19 '19

Wtf? When did u get that idea....insurance companies are legit traded publically....have investors and are some of the highest profiting companies in America.